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Old Mutual buys fifth advice firm in a year

Old Mutual Wealth Private Client Advisers has sealed its fifth acquisition this year with Yorkshire-based single-adviser firm Coleman Clough.

The deal will add £33m assets to Old Mutual’s national advice firm.

Following the move, Coleman Clough’s founder and sole adviser Roy Clough will retire but will stay in the firm to allow the clients to transfer to OMW.

Old Mutual Wealth Private Client Advisers managing director Nigel Speirs says: “I am very excited about this opportunity to grow our business, and our Yorkshire office, with the acquisition of a firm with a reputation for professional and personalised service.

“This is a reputation earned by Roy and we look forward to building on that fantastic work by continuing to deliver above and beyond expectations for clients.”

Clough says:“I am delighted that the business I’ve built will be left in capable hands. I look forward to working with Old Mutual Wealth Private Client Advisers during a handover period that will ensure Coleman Clough’s clients continue to enjoy the same personalised, tailored experience that they are accustomed to.”

In September, OMW acquired Cumbria-based financial planning firm Dodd Murray, adding another £205m to its assets under advice. The deal followed a string of acquisitions for the Old Mutual advice business.



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