Old Mutual Wealth Private Client Advisers has announced the acquisition of UK-based financial planning firm, Beaumont Robinson.
The acquisition brings over 850 clients and around £250m in assets under advice into the wealth management arm of the South African-backed insurance giant’s recently-created private client advisers business.
The announcement, released via in a statement from the firm, follows on from last year’s launch of Old Mutual Wealth Private Client Advisers with the opening of a new Chester office, and the subsequent acquisition of DQS in the South-West of England earlier this year.
Beaumont Robinson was established in 1971 and has build its reputation across the West Yorkshire region in the UK.
The company said in the statement that staff and management will remain with the business and support its transition into Old Mutual Wealth Private Client Advisers, which will see it adopt the centralised investment proposition and align its advice processes.
Beaumont Robinson managing director Michael Wall will take on the role of regional director for Old Mutual Wealth Private Client Advisers as part of the acquisition, which is subject to regulatory approval.
Old Mutual Wealth Private Client Advisers’ managing director, Nigel Speirs, welcomed Beaumont Robinson into the business calling the deal “another important milestone” in the firm’s bid to grow its wealth management business.