Quilter Private Client Advisers has added another £130m in assets to its business with the acquisition of another two financial planning firms.
The national advice business, which is part of the group formerly known as Old Mutual Wealth along with the Intrinsic network, has picked up Freedom Financial Planning and Stephen Spires Financial Consultants, based near Manchester and Reading respectively.
Freedom Financial Planning’s clients will be serviced from Quilter Private Client Advisers’ Chester office, as managing director of the business Andy Nevett prepares to retire after helping with the transition. The firm’s financial planning director, Nick Heys, will stay with Quilter as a financial planner.
Sole adviser at Stephen Spires Financial Consultants Stephen Spires will also retire after transferring clients to Quilter Private Client Advisers, who will be served by its London office.
Quilter did not disclose how much it paid for each of the firms in its statement, or how much of the purchase value is dependent on deferred performance targets being met.
Quilter Private Client Advisers strategy and acquisitions director Dominic Rose says: “Both these firms align well with our client service proposition and we look forward to continuing to deliver the exceptional service to which the clients are accustomed. We will build on the great work Stephen and Andy have done and wish them well in their retirement. Furthermore, we are thrilled to welcome Nick from Freedom Financial Planning to the Quilter PCA team.”