The acquisition adds a number of high net worth clients to the Old Mutual Wealth branded national adviser business.
Launched in 2015, Old Mutual Wealth Private Client Advisers has grown successfully in its first 12 months of operations. At the end of the month it will complete the acquisition of Beaumont Robinson. DQS, the business based in Devon, completed in October following regulatory approval. By the end of 2016 the business aims to have over £1bn* in assets under advice and over 40 employed advisers.
The acquisition of JW sees two support staff and two advisers join Old Mutual Wealth Private Client Advisers.
JW launched in 2006 and in 2013 acquired the Whitehead Group. It now has over £100m in assets under advice and has forged strong relationships with clients. Under the Old Mutual Wealth brand, it will continue to build on that success.
The business will form part of Old Mutual Wealth Private Client Adviser’s North-West region, overseen by regional director, Sarah Waring.
The North-West regional hub in Chester will soon relocate to new offices in the City having outgrown the existing premises following a year of rapid growth.
Old Mutual Wealth Private Client Adviser managing director, Nigel Speirs says:
“This is another important milestone for Old Mutual Wealth Private Client Advisers, and adds to our growing presence in the North West. It has been a particularly exciting month, with the business gaining significant momentum by finalising some important acquisitions. We are really proud of what we have been able to achieve over the last year and we are excited about what the future holds.
“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.”
*Based on a proforma level of assets as stated at the date of announcement of each acquisition.