Old Mutual Wealth  

Old Mutual Wealth snaps up advice firm

Old Mutual Wealth snaps up advice firm

Old Mutual Wealth has announced the acquisition of Coleman Clough, a Yorkshire-based adviser firm.

The deal will add £33m of assets to Old Mutual Wealth’s book. The business is being bought by the Old Mutual Wealth Private Client Advisers unit.

Roy Clough, the founder and sole adviser at the firm will retire, though he will stay on for an initial handover period.

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The firm is based in Shipley, Yorkshire.

Old Mutual Wealth Private Client Advisers Managing Director, Nigel Spiers, said: ““I am very excited about this opportunity to grow our business, and our Yorkshire office, with the acquisition of a firm with a reputation for professional and personalised service.

“This is a reputation earned by Roy and we look forward to building on that fantastic work by continuing to deliver above and beyond expectations for clients.”

This is the latest in a swathe of acquisitions by Old Mutual Wealth, having announced the acquisition of firms in Cumbria and Cheshire already this year.

The size of transaction to buy Coleman Clough was not disclosed.  

David.Thorpe@ft.com