Quilter's financial advice arm has bought the advice business of a Carlisle-based accountancy firm.
The deal to buy Saint & Co's financial advice arm will add about £100m of assets under advice to Old Mutual Wealth Private Client Advisers, Quilter's in-house advice firm, which now advises on more than £2bn of assets.
Saint & Co partner and adviser Philip Dhillon, adviser Trevor Iredale, as well as a support team will all join OMW Private Client Advisers’ Cumbria regional hub.
Dominic Rose, director at OMW Private Client Advisers, said: "Saint & Co is a natural fit with Old Mutual Wealth Private Client Advisers and comes with a reputation for a professional and personalised service, which we look forward to continuing and building on.
"Philip and Trevor bring high-quality expertise along with an experienced support team to Old Mutual Wealth Private Client Advisers. We’re excited to welcome them all to the team."
Last month Old Mutual Wealth completed its separation from its parent company and its rebranding to Quilter.
Each arm of the business is gradually being rebranded, with Old Mutual Wealth Private Client Advisers to become Quilter Private Client Advisers at some point in the next two years.
Ian Thompson, partner and accountant at Saint & Co, said: "Not only does the business share virtually the same location as Old Mutual Wealth Private Client Advisers, it truly reflects and shares the values that we believe are core to our offering.
"It is therefore fantastic that our clients will continue to enjoy an industry leading service going forward."
This is Old Mutual Wealth's third acquisition in the advice sector this year, following Edinburgh-based DG Pryde in May and Wiltshire-based A&M Financial Services in February.
damian.fantato@ft.com
