PensionsMay 22 2023

Old Mill buys commercial property pension specialist

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Old Mill buys commercial property pension specialist
Kevin Whitmarsh, chief executive officer at Old Mill

Old Mill has bought commercial property pension specialist Quro Financial Solutions as part of its drive to grow in the south west.

Quro Financial Solutions was launched by husband and wife team Matt and Bren Johnson in 2011 when they saw a gap in the market for specialist advice for owner managers looking to purchase commercial property through their pensions.

Over the past 12 years, Quro has established itself as specialists in the use of self-invested personal pensions and small-self administered schemes, to purchase and invest in commercial property on behalf of individuals and businesses.

Matt Johnson, said: “While many firms will offer their clients access to Ssas and Sipp, we go a step further, and provide clients with a full project management solution, from the inception of the plan to the completion of purchase, and this has been our USP for a number of years now.”

Quro currently looks after 85 clients and manages 40 Ssas schemes.

Johnson said: “When you own and run a family firm, the decision to retire is not an easy one because you are so invested in your clients, and you need to know that they will be as well looked after by the new business as they were with you. 

“When we started putting feelers out to find a buyer, Old Mill’s name kept coming up. We knew Old Mill was a well-established, fast-growing and ambitious regional firm, but we needed to know it was the right fit culturally too, and from our first meeting with the CEO, Kevin Whitmarsh, it was clear we’d found the right home for our business.”

Bren Johnson added: “We have worked hard to make Quro a success and couldn’t be happier knowing that it will continue to grow and develop as a part of Old Mill.” 

This deal is the second in a series of acquisitions, Old Mill bought Brook Financial back in June 2022. 

Old Mill said this will support its ambitious five-year growth plan to double the size of the business by 2026. 

Kevin Whitmarsh, chief executive officer at Old Mill, said: “Quro is a fast-growing specialist business, with an excellent client base and an impressive growth record and it will be a huge asset to the Old Mill family.

“Its high quality, specialist Ssas and Sipp service will become an extension of our already comprehensive pensions offering, while our established expertise across accountancy, tax, financial planning and wealth management will offer Quro’s clients a broader suite of services, all under one roof.”