WEALTH management firm SFM expects to double its £4m turnover in the next 18 months and create 40 jobs.

The Gateshead firm was set up four years ago after managing director Malcolm Graham identified a need for specialist lawyers working in the field of tax planning and financial advice.

Today, SFM wealth management provides legal and financial advice together with its sister firm, SFM legal services, and is planning to open a second office in Sunderland in the new year.

It also expects to boost its 51-strong workforce with the creation of 40 new jobs.

Mr Graham said: "Our success in just four years of business has proved that there is a real need for professional, wrap around advice that spans a client's financial, property, business, estate and tax affairs.

"Tax planning and financial services advice has changed enormously over the past few years and our team of experts are constantly working to find the legally approved loopholes that will help our clients."