FINANCIAL management firm RMT FM is on the acquisition trail as it looks to more than treble its investment portfolio during the next five years.

Following the purchase of R Monckton-Milnes and Partners, which brought with it 1,000 new clients, RMT FM now manages investments totalling in excess of £120m.

It is already the largest firm of independent financial advisors linked to an accountancy practice in the region, but wants to expand further through organic growth and acquisition.

Director Richard Blackett said: "Our aim is to achieve an investment portfolio of £400m within a further five years, part of which could well be through further buy-outs."

Established only 14 years ago, the Newcastle company employs 26 staff and offers independent advice on financial planning to a diverse client base.

Already strong in the North-East, Gosforth-based RMT FM has recently made inroads into the North-West and is actively seeking further expansion opportunities in that area.