Quilter Private Client Advisers acquires Prescient, adding more than £800m in AuA

Quilter Private Client Advisers is pleased to announce the acquisition of national financial advice firm, Prescient.

The acquisition adds more than £800m of assets under advice (AuA) to Quilter Private Client Advisers.

Prescient’s principal office is in the City of London with regional offices in Glasgow, Exeter and York.  The acquisition sees 23 staff, including eight financial advisers and three trainee advisers join Quilter Private Client Advisers’ existing regional offices.

Upon completion the managing director of Prescient, Chris Woodhams, retired alongside the firm’s director of risk, Hugh Bance.

Dominic Rose, strategy and acquisitions director at Quilter Private Client Advisers, says:

“Prescient represents a fantastic fit for Quilter Private Client Advisers and we are excited to welcome a number of new colleagues and clients to our business. We believe this acquisition reaffirms that our model is continuing to help business owners realise the value in their companies while delivering good outcomes for clients.”

Chris Woodhams, former managing director of Prescient adds:

“Our long relationship with Quilter, since the Skandia days, meant that this was a logical fit: the majority of our clients’ assets are held through the Old Mutual Wealth platform and we have worked with various technical specialists in Quilter in recent years. Our transferring team will provide continuity for the clients during the transition.”

For more information contact

Alex Berry
023 8072 6260
07741 151931
alex.berry@quilter.com

Tim Skelton-Smith
023 8091 6998 
078 2414 5076 
tim.skelton-smith@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 Investment Platform in 2020)
  • Quilter International (previously Old Mutual International)

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.