Old Mutual Wealth Private Client Advisers today announces it will establish a new Birmingham office with the acquisition of Premier Planning and Premier Wealth (Premier).
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The acquisition will add more than £170m in assets under advice to the Old Mutual Wealth-branded financial planning business, which launched in 2015.
Founded over 30 years ago, Premier has established a strong local presence in the West Midlands. Premier Planning owner and managing director, Richard Usmar, will remain with the business in a consultancy role. He will be assisting with the smooth transition of the business.
Premier Wealth managing director Mark Grainger will join Old Mutual Wealth Private Client Advisers to ensure continuity of service.
The terms of the acquisition mean that Old Mutual Wealth Private Client Advisers will take on all liabilities for past advice, giving the wider financial planning industry re-assurance that the acquired firms do not leave any liability which could in future fall on industry-funded compensation schemes.
When the firm was launched in 2015, Old Mutual Wealth and Intrinsic also announced the acquisition and re-launch of the Financial Adviser School (FAS). From the first cohort of students, three graduates will soon join Old Mutual Wealth Private Client Advisers in different offices around the country having obtained their level 4 Diploma in Financial Planning.
FAS students come from across the industry, with both Old Mutual Wealth Private Client Advisers, Intrinsic advisers, and non-affiliated firms supporting trainee advisers through the process.
Nigel Speirs, managing director, OMW Private Client Advisers, says:
“This is another important milestone for Old Mutual Wealth Private Client Advisers. We now have five regional offices, allowing us to deliver quality face to face financial planning to a growing number of clients across the country.”
Richard Usmar, Premier Planning managing director, says:
“Growing this business and servicing our clients over more than 30 years has been a real joy. I am particularly pleased that I can pass my business over to a well-resourced client focused business. I look forward to working with the team for many years to come, knowing that on a day to day basis my clients are in safe hands with Mark Grainger and his colleagues at Old Mutual Wealth Private Client Advisers.”
For more information contact
Old Mutual Wealth
020 7778 9638
Notes to editors:
Quilter Private Client Advisers is a national advice business 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 plc oversees £118.4 billion in investments (as at 30 June 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; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.
The Quilter plc businesses are being re-branded as follows:
- Quilter Financial Planning (previously Intrinsic)
- Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
- Charles Derby Group (becoming Quilter Financial Advisers)
- 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)
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