Old Mutual Wealth Private Client Advisers, the appointed representative of Intrinsic offering restricted financial planning services that leverage Old Mutual Wealth’s investment capability across Quilter Cheviot and Old Mutual Global Investors, has reached an agreement to acquire financial planning firm, DQS Financial Management.
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The acquisition will add £200m in assets under advice and 650 clients to the Old Mutual Wealth-branded financial planning business, which launched in 2015.
DQS staff, including five advisers, will remain with the company, with its offices operating under the Old Mutual Wealth Private Client Advisers brand.
DQS was founded in 2001 by directors Chris Dyson, Rob Quaintance and Carrie Payne, all of whom will remain with the business to support its continued growth as part of Old Mutual Wealth Private Client Advisers.
The business provides financial planning to clients from its base in Newton Abbot and has grown successfully since 2001, including the acquisition of Castellan Financial Management in 2006.
The acquisition is subject to regulatory approval.
Old Mutual Wealth is committed to supporting growth in the financial advice industry and meeting increased consumer need for professional financial planning. This includes financial advisers across the UK that work with Old Mutual Wealth and its stable of platform and investment solutions, and restricted and independent financial advice through the Intrinsic network.
Old Mutual Wealth Private Client Advisers, which launched in October 2015, is also helping to build the next generation of financial advisers by offering graduates of the Financial Adviser School a route into the profession as employees of Old Mutual Wealth Private Client Advisers. The Financial Adviser School also supports students sponsored by or interested in joining any advice firm in the directly authorised market or the Intrinsic network.
Nigel Speirs, managing director, OMW Private Client Advisers, says:
“We’re delighted to announce the acquisition of DQS, adding an established and respected adviser firm to the Private Client Advisers business.”
Richard Freeman, chief distribution officer at Old Mutual Wealth, says:
“At Old Mutual Wealth we are absolutely committed to investing in the future of face-to-face financial planning, and bringing well-controlled, high quality financial planning to more customers. We will continue to invest in our proposition supporting the wider adviser market as well as our distribution capabilities through Intrinsic.”
Chris Dyson DipPFS, managing director, DQS, says:
“We are delighted to be joining Old Mutual Wealth Private Client Advisers. Aligning with a business focused on delivering good customer outcomes through advice and ongoing service with an excellent pedigree in investment management has been very important to us and will enable us to continue to deliver a first-class proposition to our clients.
“I am personally excited to be leading the integration of DQS and becoming a key member of the Old Mutual Wealth Private Client Advisers leadership team.”
For more information contact
Old Mutual Wealth
02380 916 998
07824 145 076
Notes to editors:
Quilter Private Client Advisers is an appointed representative of Intrinsic and part of Quilter plc.
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 oversees £ 109.3 billion in customer investments (as at 31 December 2018).
It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset and single strategy investment solutions; and discretionary fund management.
The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.
Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.
Advice and Wealth Management encompasses the financial planning network, Intrinsic; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solution business.
The Quilter businesses are being re-branded to Quilter over a period of approximately two years:
- The Multi-Asset business is now Quilter Investors
- Intrinsic to Quilter Financial Planning
- The private client advisers business is now Quilter Private Client Advisers
- The UK Platform to Quilter Wealth Solutions
- The International business to become Quilter International
- The Heritage life assurance business to Quilter Life Assurance
- Quilter Cheviot will retain its name.
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.