Quilter’s financial advice arm, Old Mutual Wealth Private Client Advisers, has bought the advice business of a Carlisle-based accountancy firm, its third such transaction in recent months.
Old Mutual Wealth Private Client Advisers announced the acquisition of the advisory arm of accountancy business, Saint & Co, earlier today, adding £100m of assets under advice to Quilter’s national financial planning business, which now advises on over £2bn in client assets.
Saint & Co partner and adviser, Philip Dhillon, adviser Trevor Iredale and a support team will all join OMW Private Client Advisers’ Cumbria regional hub.
Dominic Rose, director at Old Mutual Wealth Private Client Advisers, called Saint & Co “a natural fit” with Saint & Co partner and accountant, Ian Thompson, adding: “Not only does the business share virtually the same location as Old Mutual Wealth Private Client Advisers, it truly reflects and shares the values that we believe are core to our offering. It is therefore fantastic that our clients will continue to enjoy an industry leading service going forward.”
This is Old Mutual Wealth’s third acquisition in the UK financial advice sector this year, as reported, following the acquisition of Edinburgh-based DG Pryde in May and Wiltshire-based A&M Financial Services in February.
As reported, last month Old Mutual Wealth completed its separation from its parent company and its rebranding to Quilter, with the other parts of the business being rebranded one at a time. It is planned that Old Mutual Wealth Private Client Advisers will become Quilter Private Client Advisers within the next 12 months to two years.