Quilter Cheviot has agreed to buy Attivo Investment Management Limited for an undisclosed sum.
The deal, which is expected to complete in the first quarter of the year, will see £300m in assets under management transfer to Quilter Cheviot.
Stephen Harper chief executive of Attivo Group added: “We are pleased to have agreed with Quilter Cheviot to transfer Attivo Investment Management to a company, which like us, places the utmost importance on putting clients first.
“Attivo Group’s focus has always been to be an independent financial planning business and the transfer of the investment management business reinforces our commitment to offering truly independent financial planning through Attivo Financial Planning.”
Attivo was founded by Mr Harper in 1998 and is made up of Attivo Financial Planning, a chartered advice firm, and Attivo Investment Management, a discretionary fund manager.
The group controls more than £500m in funds under management, administration and advice.
Last year it sold its Sipp and Ssas administration business to Talbot & Muir for an undisclosed amount.
Clients of Attivo Investment Management will be managed jointly from Quilter Cheviot’s Bristol and London offices.
David Loudon, chief executive of Quilter Cheviot, said: “This development demonstrates our commitment to a proactive growth strategy and is a statement of our confidence in the UK’s economy.
“We are actively seeking to acquire wealth management books of business to help support our organic growth and move further towards Old Mutual Wealth’s goal of becoming the UK’s leading wealth management business.”
Quilter Cheviot, which has funds under management of £20bn, was bought by Old Mutual Wealth in 2014.
