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A Chorley-based firm of Independent Financial Advisers (IFAs) has secured a £100,000 loan from Lancashire’s Rosebud Finance to pursue its ambitious growth plans.

Cheetham Jackson Ltd, which employs 16 people at its offices in Chorley, Bury and Chesterfield, is planning to open another office in Lancashire in the next 12 months and create 10 new jobs.

In the longer term, the firm aims to achieve a national presence with around 100 offices in town centres throughout the UK, including seven identified in Lancashire.

Cheetham Jackson was established in 2009 by Stuart Jackson, previously an accountant who held senior financial roles in a multi-national paper manufacturing business, before becoming a financial adviser.

The company provides financial advice and wealth management services, and currently has over £40m funds under management. In addition to its programme of opening new offices, it is also setting up joint ventures with law and accountancy firms to provide financial advice to their clients.

Rosebud is a finance package supporting Lancashire firms to grow and expand their business. It is managed by Enterprise Ventures, on behalf of Lancashire County Developments Ltd (LCDL) – Lancashire County Council’s economic development company.

Paul Taberner of Enterprise Ventures said: “Cheetham Jackson has developed a successful operating model within a sector which is heavily regulated. It is keen to roll out its model in other towns and cities and to take advantage of addition growth opportunities, as the rising costs of compliance has resulted in some of the competition – including sole traders and big banks – withdrawing from the market.”

County Councillor Niki Penney said: “We’re pleased that Rosebud is able to support another Lancashire business from the Financial and Professional Sector, which we’ve identified as a sector with high growth potential.

“We’re pleased that Rosebud will be supporting the next stages of its growth, as it looks to further develop its business and bring new high value jobs to Lancashire though inward investment.”