View more on these topics

Old Mutual Wealth buys Cheshire advice firm

Business-Handshake-Finance-Deal-700.jpg

Old Mutual Wealth Private Client Advisers has acquired Cheshire-based JW Financial Planning for an undisclosed sum.

Two advisers and two support staff will join Old Mutual as part of the deal. JW Financial Planning, which launched in 2006, has more than £100m assets under advice.

Old Mutual Wealth Private Client Adviser managing director Nigel Speirs says: “It has been a particularly exciting month, with the business gaining significant momentum by finalising some important acquisitions.

“It is fantastic to be able to mark year two of our journey by welcoming clients and staff from JW into Old Mutual Wealth Private Client Advisers.”

Old Mutual Wealth says its acquisition of Beaumont Robinson is expected to complete at the end of this month.

By the end of 2016 the business aims to have more than £1bn in assets under advice and more than 40 employed advisers.

It completed the acquisition of Devon-based DQS in October.

Recommended

Old Mutual Wealth 2014

Old Mutual hints core businesses could be sold off

Old Mutual has not ruled out selling off its businesses as it begins a managed separation to extricate the four parts of the group. In a market update today, Old Mutual outlined the “highly complex” nature of the managed separation, which will see Old Mutual Asset Management, Old Mutual Wealth, Old Mutual Emerging Markets and […]

Old Mutual Wealth 2014

Old Mutual Wealth pays adviser four years late

Old Mutual Wealth has issued an apology after it failed to pay commission to an adviser for four years. The adviser, who wished to remain anonymous, requested an overdue payment for an Isa opened this year but discovered Old Mutual Wealth held the wrong bank details on its systems. A statement sent to the adviser […]

Feeney-Paul-2013-700x450.jpg

Old Mutual Wealth completes Quilter Cheviot acquisition

Old Mutual Wealth has completed its acquisition of Quilter Cheviot for £585m. Quilter Cheviot has £16.7bn funds under management and 500 employees, including 165 investment managers. In October, it was reported that Old Mutual Wealth was in advanced talks to buy the wealth manager. Old Mutual Wealth says Quilter Cheviot’s discretionary investment management service will […]

Andrew-Bailey-PRA-2013-500x320.jpg

FCA chief attacks managers keeping £100bn in ‘partially active’ funds

Financial Conduct Authority chief executive Andrew Bailey has hit out at fund managers for keeping more than £100bn in funds that are only “partially active.” The FCA is “not saying passive management is better than active”, Bailey says, but cites “strong and consistent margins” and unwavering charges in active funds compared to falling passive costs […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment