Old Mutual Wealth has bought Maestro Financial Services for an undisclosed amount.
The Cheadle-based business will become part of Old Mutual Wealth Private Client Advisers and part of the firm’s Chester region.
The acquisition adds more than £120m in assets under advice to the Old Mutual Wealth-branded adviser business.
Owner and managing director Niel Lingwood will join Old Mutual Wealth Private Client Advisers, alongside additional support staff.
Old Mutual Wealth Private Client Advisers managing director, Nigel Speirs, said: “In 2015 we launched Old Mutual Wealth Private Client Advisers with the aim of helping a growing number of UK households realise the benefits of professional financial planning.
“I’m delighted that we can now add to our Chester office by welcoming Niel and his colleagues into the business.”
Maestro was founded in 1984 and in 2010 it bought the financial planning business of Kay Webb & Co.
Mr Lingwood said: “I’m really pleased to be joining Old Mutual Wealth Private Client Advisers, which shares Maestro’s values and principles and will offer our clients continuity and ongoing service from a trusted and reliable national financial planning business.”
damian.fantato@ft.com
