Old Mutual Wealth Private Client Advisers to acquire Beaumont Robinson

Old Mutual Wealth Private Client Advisers, the financial planning business leveraging Old Mutual Wealth’s expertise in advice, investments and platform solutions, is today pleased to announce the acquisition of West Yorkshire based financial planning firm, Beaumont Robinson. 

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The acquisition brings over 850 clients and around £250m in assets under advice into the Private Client Advisers business.

The announcement follows the 2015 launch of Old Mutual Wealth Private Client Advisers with the opening of a new Chester office, and the subsequent acquisition of DQS in the South-West of England earlier this year.

Beaumont Robinson was established in 1971 and has successfully grown to service clients across the West Yorkshire region, while delivering strong business performance.

Staff and management will remain with the business and support its transition into Old Mutual Wealth Private Client Advisers, which will see it adopt the centralised investment proposition and align its advice processes.

Beaumont Robinson managing director Michael Wall will take on the role of regional director for Old Mutual Wealth Private Client Advisers. 

The acquisition is subject to regulatory approval.

Old Mutual Wealth Private Client Advisers’ managing director, Nigel Speirs, says:

“We are really excited to welcome Beaumont Robinson, its staff and clients into the Old Mutual Wealth Private Client Advisers business. I am really looking forward to working with regional director Michael Wall and the rest of the team as we embark on an exciting journey together at Old Mutual Wealth Private Client Advisers.

“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.”

Old Mutual Wealth chief distribution officer, Richard Freeman, says:

“At Old Mutual Wealth we have made a firm commitment to invest across the entire financial planning industry. Building our own-brand wealth management offering through the Private Client Adviser business is another important example of our commitment to growing the footprint of face to face advice across the UK.”

Beaumont Robinson chairman, David Cubitt, says:

Joining Old Mutual Wealth Private Client Advisers is an exciting step for this business and will allow us to grow and develop with the support of a national advice offering. 

“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.”

For more information contact

Tim Skelton-Smith
tim.skelton-smith@quilter.com

Michael Glenister
michael.glenister@quilter.com

Notes to editors:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £110.4 billion in customer investments (as at 31 December 2019).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.

The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

Wealth Platforms includes Old Mutual Wealth UK platform and Old Mutual International, including AAM Advisory in Singapore.

The Old Mutual Wealth Heritage life assurance business was acquired by ReAssure Group Plc on 2 January 2020.

Since its IPO in June 2018, Quilter plc’s businesses have progressively rebranded to Quilter, as follows: 

  • Quilter Financial Planning (previously Intrinsic)
  • Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
  • Quilter Financial Advisers (previously Charles Derby Group)
  • Quilter Financial Adviser School
  • Quilter Cheviot
  • Quilter Investors
  • Old Mutual Wealth (becoming Quilter Wealth Solutions in 2020)
  • Old Mutual International (becoming Quilter International in 2020)

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.

Disclaimer

This announcement may contain certain forward-looking statements with respect to certain Quilter plc’s plans and its current goals and expectations relating to its future financial condition, performance and results. 

By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond Quilter plc’s control including amongst other things, international and global economic and business conditions, market related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory authorities, the impact of competition, inflation, deflation, the timing and impact of other uncertainties of future acquisitions or combinations within relevant industries, as well as the impact of tax and other legislation and other regulations in the jurisdictions in which Quilter plc and its affiliates operate. As a result, Quilter plc’s actual future financial condition, performance and results may differ materially from the plans, goals and expectations set forth in Quilter plc’s forward looking statements.

Quilter plc undertakes no obligation to update the forward-looking statements contained in this announcement or any other forward-looking statements it may make.

Nothing in this announcement should be construed as a profit forecast.