A TEIGNMOUTH financial firm is moving out of the town.

The Pavey Group is closing its Waterloo Street office and re-locating to the new head office at the Edginswell Business Park in Torquay.

Five staff from Teignmouth are making the move, along with employees at Totnes.

'This was a difficult decision for the board, given our close association with the Teignmouth and Totnes communities over many years, which enabled us to develop our business to the largest independent insurance brokers in south Devon,' said Graham Brown, managing director of the Pavey Group.

'We will continue to provide first class and local service to all our existing business and private clients.'

Ray Illingworth, operational director of Teignmouth and Totnes, added: 'All our staff will re-locate to Minerva House, and therefore, the individual client relationships will hopefully continue.'

Every client will receive a card providing details of the new address, phone numbers and contact points to make communication as seamless as possible.

Mr Illingworth said he would remain on the Teignmouth Traders' Association committee, which would still be supported by the Pavey Group.

The group has been trading in Teignmouth since 2005 when it merged with the long-established Rodney Bennett Insurance Services.