Quilter Private Client Advisers has announced the acquisition of national financial advice firm, Prescient.
The acquisition adds more than £800m of assets under advice (AuA) to Quilter Private Client Advisers.
Prescient's principal office is in the City of London with regional offices in Glasgow, Exeter and York. The acquisition sees 23 staff, including eight financial advisers and three trainee advisers join Quilter Private Client Advisers' existing regional offices.
We believe this acquisition reaffirms that our model is continuing to help business owners realise the value in their companies while delivering good outcomes for clients.”
Upon completion the managing director of Prescient, Chris Woodhams, retired alongside the firm's director of risk, Hugh Bance.
Dominic Rose, strategy and acquisitions director at Quilter Private Client Advisers, said: "Prescient represents a fantastic fit for Quilter Private Client Advisers and we are excited to welcome a number of new colleagues and clients to our business. We believe this acquisition reaffirms that our model is continuing to help business owners realise the value in their companies while delivering good outcomes for clients."
Chris Woodhams, former managing director of Prescient added: "Our long relationship with Quilter, since the Skandia days, meant that this was a logical fit: the majority of our clients' assets are held through the Old Mutual Wealth platform and we have worked with various technical specialists in Quilter in recent years. Our transferring team will provide continuity for the clients during the transition."