Old Mutual Wealth Private Client Advisers acquires Maestro

Old Mutual Wealth Private Client Advisers is today pleased to announce the acquisition of Maestro Financial Services (Maestro).

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The Cheadle-based business will become part of Old Mutual Wealth Private Client Advisers and operate as part of the firm’s Chester region.

Owner and managing director Niel Lingwood will join Old Mutual Wealth Private Client Advisers, alongside additional support staff.

The acquisition adds more than £120m in assets under advice to the Old Mutual Wealth-branded adviser business.

Maestro was set-up by Niel in 1984. It has since grown into a successful financial planning business, acquiring Shaw Heath Insurance Services in 2008; and the financial planning business of Kay Webb & Co in 2010.

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

“In 2015 we launched Old Mutual Wealth Private Client Advisers with the aim of helping a growing number of UK households realise the benefits of professional financial planning. I’m delighted that we can now add to our Chester office by welcoming Niel and his colleagues into the business.”

Niel Lingwood adds:

“I’m really pleased to be joining Old Mutual Wealth Private Client Advisers, which shares Maestro’s values and principles and will offer our clients continuity and ongoing service from trusted and reliable national financial planning business.”

For more information contact

Michael Glenister
Old Mutual Wealth
020 7778 9638
07469 144535
michael.glenister@omwealth.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.