Old Mutual Wealth acquires UK’s Maestro FS
Old Mutual Wealth Private Client Advisers has added another financial advisory company to its ranks with the acquisition of UK’s Maestro Financial Services.
The Cheadle-based business will become part of Old Mutual Wealth Private Client Advisers and operate as part of the firm’s Chester region operation, the company said in a statement announcing the deal.
Current owner and managing director Niel Lingwood will now join Old Mutual Wealth Private Client Advisers, alongside additional support staff, OMW said.
The deal adds more than £120m in assets under advice to the Old Mutual Wealth-branded adviser business, which is an appointed representative of Intrinsic, part of Old Mutual Wealth.
Maestro was set-up by Lingwood in 1984. It acquired another financial planning business, Kay Webb & Co, in 2010.