The acquisition adds £205m of assets under advice to the national financial planning business.
Three Dodd Murray advisers and additional support staff will join the business as part of the acquisition.
Dodd Murray’s Carlisle office will become a regional office of Old Mutual Wealth Private Client Advisers, complementing its Chester, London, Devon, Birmingham and Yorkshire premises.
The Dodd Murray business was formed in 2007 when Dodd Financial merged with Murray & Fuller, with both firms having enjoyed a long-term presence in the region.
Following the completion of the acquisition, Dodd Murray managing director Chris Fuller will become regional director for Old Mutual Wealth Private Client Advisers.
The acquisition is subject to regulatory approval.
Old Mutual Wealth Private Client Advisers managing director, Nigel Speirs says:
“As we approach two years since the launch of Old Mutual Wealth Private Client Advisers, it is exciting for us that the business continues to grow through the acquisition of high-quality financial planning firms like Dodd Murray.
“I know the business is going to be a good fit for us and everyone at Old Mutual Wealth Private Client Advisers is really looking forward to working with Chris Fuller and his team to continue the fantastic work they have accomplished to date.”
Incoming Old Mutual Wealth Private Client Advisers regional director, Chris Fuller says:
“This is a wonderful opportunity for Dodd Murray to embark on the next phase of its journey as part of Old Mutual Wealth Private Client Advisers.
“Becoming part of Old Mutual Wealth Private Client Advisers gives us access to the scale and resource required to grow our business.
“Along with all my colleagues I am excited to be joining Old Mutual Wealth Private Client Advisers and I know it is the right long-term partner for us and our clients. The financial planning business Nigel Speirs and his colleagues have built is one with which we share a great deal of common-ground, which is an important factor in continuing to deliver fantastic service for our clients.”
Notes to editors:
Old Mutual Wealth Private Client Advisers is an appointed representative of Intrinsic, which is part of Old Mutual Wealth.