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Old Mutual Wealth Private Client Advisers acquires JW Financial Planning

17/11/2016

Old Mutual Wealth Private Client Advisers is today announcing the acquisition of JW Financial Planning, the Cheshire-based advice firm.

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. 

For more information contact

Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076tim.skelton-smith@omwealth.com

Notes to editors:

Quilter is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

On a ‘go forward basis’, Quilter oversees £ 111.6 billion in customer investments (as at 31 March 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset and single strategy investment solutions; and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Old Mutual Wealth Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Old Mutual Wealth’s multi-asset investment solutions business.

The Quilter businesses will be re-branded to Quilter over a period of approximately two years following separation from Old Mutual:

  • Intrinsic to Quilter Financial Planning
  • Private Client Advisers to Quilter Private Client Advisers
  • The Multi-Asset business to Quilter Investors
  • The UK Platform to Quilter Wealth Solutions
  • The International business to become Quilter International
  • The Heritage life assurance business to Quilter Life Assurance
  • Quilter Cheviot will retain its name.

On 19 December 2017, Old Mutual Wealth announced that it has agreed to sell its Single Strategy asset management business to the Single Strategy Management team and funds managed by TA Associates. The proposed transaction is subject to customary closing conditions, including regulatory approvals. 

Quilter is part of Old Mutual plc, a FTSE 100 group that provides investment, savings, insurance and banking. For the year ended 31 December 2017, Old Mutual reported an adjusted operating profit before tax of £2.0 billion. For further information on Old Mutual plc and the underlying businesses, please visit the corporate website at www.oldmutualplc.com.

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