QuilterJun 21 2019

Quilter adds £211m assets with three acquisitions

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Quilter adds £211m assets with three acquisitions
ByRachel Mortimer

Quilter's national advice business has gained £211m in assets under advice with the completion of three acquisitions.  

The deals saw Quilter Private Client Advisers, the company's national advice business, buy financial planning firms Petrus Financial Services, ROC Consultants, and M.J.S Wilson & Co. 

The owners of Windsor-based Petrus Financial Services, Philip Dendy, Nigel Pearce and David Main, will retire following a transition period where clients will be introduced to new financial planners located at the Quilter London office.

Georgina Warwick, operations director at Petrus Financial Services, is set to join Quilter.

Adviser Trevor Allum, owner of Surrey-based ROC Consultants, is also set to retire once his clients have been transferred to Quilter. 

Clients of financial planning firm M.J.S Wilson meanwhile will be serviced by Quilter Private Client Adviser's offices in London and Chester. 

Quilter's national advice firm, which was launched in 2015, rebranded to Quilter Private Client Advisers last year as part of the company's transition away from its Old Mutual Wealth name.

Dominic Rose, strategy and acquisitions director at the firm, said: "Our model is working and I am pleased that we are continuing to help business owners realise the value for their years of hard work.

"Crucially, our clients are happy and therefore we will continue with our strategy of acquiring select high quality advice businesses."

Philip Dendy, financial adviser and co-owner of Petrus Financial Services, said: "We had always planned that when the time came for us to exit the financial services industry we needed a smooth transition of our valued clients to a capable, robust and high quality financial advice business.

"We are delighted that we have achieved exactly that with Quilter Private Client Advisers."

In February this year Quilter gained 200 advisers with its acquisition of financial planning firm Charles Derby, in a deal quadrupling the number of advisers in its national advice business. 

Darren Sharkey was confirmed as managing director of the national advice business, which now consists of Quilter Private Client Advisers and Charles Derby.

Meanwhile Quilter recently completed its acquisition of national advice company and network Lighthouse, in a deal worth £46.2m which saw 400 advisers join its advice network Intrinsic. 


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