Old Mutual Wealth has bought a Cheshire-based advice firm for an undisclosed sum.
The acquisition of JW Financial Planning is the latest stage in the expansion of Old Mutual Wealth Private Client Advisers.
JW has more than £100m in assets under advice and the deal will see two support staff and two advisers join Old Mutual Wealth.
Nigel Spiers, Old Mutual Wealth Private Client Adviser managing director, said: “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.”
Launched in 2015, Old Mutual Wealth Private Client Advisers has already bought Beaumont Robinson and DQS.
By the end of 2016 the business aims to have more than £1bn in assets under advice and more than 40 employed advisers.
Earlier this year Old Mutual Wealth’s chief distribution officer Richard Freeman told FTAdviser he wanted to focus on growing the private client business while its networks would grow at a slower rate.
JW was launched in 2006 and in 2013 acquired the Whitehead Group.
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.
