Quilter Private Client Advisers has bought two financial planning businesses, adding around £130m in assets under administration to the business.
The deals to buy Freedom Financial Planning and Stephen Spires Financial Consultants were the consolidator's first of 2019.
The managing director of Derbyshire-based Freedom Financial Planning, Andy Nevett, will retire after helping transition the clients, while financial planning director Nick Heys will join Quilter as a financial planner.
Meanwhile Reading-based Stephen Spires Financial Consultants’ sole adviser, Stephen Spires, will retire after his clients are transferred to Quilter.
Dominic Rose, strategy and acquisitions director at Quilter Private Client Advisers, said: "Both these firms align well with our client service proposition and we look forward to continuing to deliver the exceptional service to which the clients are accustomed.
"We will build on the great work Stephen and Andy have done and wish them well in their retirement. Furthermore, we are thrilled to welcome Nick from Freedom Financial Planning to the Quilter PCA team."
Quilter Private Client Advisers, which was launched in 2015, rebranded last year as part of the company's transition away from its Old Mutual Wealth name.
Mr Nevett said: "After over 30 years in financial planning it is time for me to enjoy my freedom with the knowledge that my clients will be with a very safe pair of hands given the professional expertise that Quilter Private Clients Advisers offers."
damian.fantato@ft.com
