Old Mutual Wealth sets up Birmingham advice base

Old Mutual Wealth is to establish a Birmingham advice business through the acquisition of Premier Planning and Premier Wealth.

The deal will come under Old Mutual Wealth Private Client Advisers, the company’s own branded financial planning arm.

The acquisition, for an undisclosed sum, will add more than £170m in assets under advice. Premier Wealth managing director Mark Grainger will join Old Mutual Wealth Private Client Advisers as part of the deal.

Old Mutual Wealth has taken on Premier’s liabilities for past advice under the terms of the acquisition.

Old Mutual Wealth Private Client Advisers managing director Nigel Speirs (pictured) says: “This is another important milestone for the business. We now have five regional offices, allowing us to deliver quality face to face financial planning to a growing number of clients across the country.”

Premier Planning managing director Richard Usmar says: “Growing this business and servicing our clients over more than 30 years has been a real joy.

“I am particularly pleased that I can pass my business over to a well-resourced client focused business. I look forward to working with the team for many years to come.”