Old Mutual Wealth absorbs second financial planner in two months

Added 8th August 2016

Old Mutual Wealth and Private Client Advisers has acquired West Yorkshire financial adviser, Beaumont Robinson.

Old Mutual Wealth absorbs second financial planner in two months

This is OMWPCA’s second acquisition this year, following closely behind its purchase of Devon-based business, DQS Financial Management, in mid-June. The DQS deal reportedly brought £200m of new assets and 650 clients into the fold.

The acquisition of Beaumont Robinson, which is subject to regulatory approval, will add over 850 clients to OMW’s private client platform and expand its AUM by £250m.

Chief distribution officer at OMW, Richard Freeman, said the acquisition was yet another example of the firm’s commitment to investing in all facets of the financial planning industry.

“Building our own-brand wealth management offering through the Private Client Advisers business is another important example of our commitment to growing the footprint of face to face advice across the UK,” he elaborated.

Managing director Nigel Spiers, added: “This is another important milestone as we aim to grow a wealth management business designed to deliver great customer outcomes by combining Old Mutual Wealth’s stable of investment, platform and advice solutions.”

OMW confirmed Beaumont Robinson managing director, Michael Wall, will serve as a regional director for OMW Private Client Advisers.

There will be no change to the staff and management teams at Beaumont Robinson as it is phased into OMW’s private client business.

Commenting on the deal, Beaumont Robinson chairman David Cubitt, said: “It was crucial for us to find a partner that could ensure our clients would continue to receive the highest quality wealth management and financial planning service available and we’re delighted to have found that with Old Mutual Wealth.”

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About Author

Kristen McGachey

Senior Reporter

Kristen joined Last Word Media and the world of financial journalism in April 2016, leaving behind a career in a legal publishing firm as a senior researcher turned assistant editor.

This native Angelino initially moved to the UK in 2008 to complete her undergraduate studies at the University of Nottingham. She subsequently obtained a Masters degree in Philosophy with Literature from the University of Warwick.



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