Old Mutual Wealth Private Client Advisers has acquired Cumbria-based financial planning firm Dodd Murray, adding another £205m to its assets under advice.
Subject to regulatory approval, Old Mutual will also take on the three advisers at Dodd Murray as well as additional support staff, the firm said.
Following the deal, Dodd Murray managing director Chris Fuller will become regional director at Old Mutual Wealth Private Client Advisers.
The deal is the latest in a string of acquisitions for the Old Mutual advice business.
Managing director Nigel Speirs says:“As we approach two years since the launch of Old Mutual Wealth Private Client Advisers, it is exciting for us that the business continues to grow through the acquisition of high-quality financial planning firms like Dodd Murray.
“I know the business is going to be a good fit for us and everyone at Old Mutual Wealth Private Client Advisers is really looking forward to working with Chris Fuller and his team to continue the fantastic work they have accomplished to date.”
Incoming Old Mutual Wealth Private Client Advisers regional director Chris Fuller says: “This is a wonderful opportunity for Dodd Murray to embark on the next phase of its journey as part of Old Mutual Wealth Private Client Advisers.
“Becoming part of Old Mutual Wealth Private Client Advisers gives us access to the scale and resource required to grow our business.”