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Old Mutual Wealth Private Client Advisers announces Dodd Murray acquisition

01/09/2017

Old Mutual Wealth Private Client Advisers today announces it has acquired Dodd Murray, the Cumbria-based financial planning business.

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.

For more information contact

Michael GlenisterOld Mutual Wealth020 7778 963807469 144535michael.glenister@omwealth.com
Kathleen GallagherOld Mutual Wealth023 8072 629307990 004932kathleen.gallagher@omwealth.com

Notes to Editors:

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

Old Mutual Wealth oversees £131.3 billion in customer investments (as at 30 September 2017).

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.

Old Mutual Global Investors (‘OMGI’) is the asset management business of Old Mutual Wealth with £39.8bn funds under management (as at 30 September 2017). On the 19th 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. 

Following managed separation from Old Mutual plc, Old Mutual Wealth will rebrand to Quilter plc. Each of the businesses within the Quilter Plc group will be rebranded over a two-year period, with the exception of Quilter Cheviot, which will retain its existing name.

Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million (as at 31 December 2016) customers across the world and has a total of £212.3 billion of assets under management (as at 30 June 2017).

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