Old Mutual Wealth acquires DFM Attivo

Business-Handshake-Finance-Deal-700.jpgOld Mutual Wealth’s Quilter Cheviot has acquired the discretionary investment arm of Attivo Group for an undisclosed sum.

The deal is expected to complete by the end of March, and adds £300m in assets under management.

Attivo Investment Management’s clients will be managed jointly between Quilter Cheviot’s Bristol and London offices.

The acquisition has already been given regulatory approval.

Quilter Cheviot chief executive David Loudon says: “We are excited about the opportunity to build our business in southern England as a result of the acquisition of Attivo Investment Management.

“This development demonstrates our commitment to a proactive growth strategy and is a statement of our confidence in the UK’s economy. We are actively seeking to acquire wealth management books of business to help support our organic growth and move further towards Old Mutual Wealth’s goal of becoming the UK’s leading wealth management business.”

Attivo Group chief executive Stephen Harper says: “Attivo Group’s focus has always been to be an independent financial planning business and the transfer of the investment management business reinforces our commitment to offering truly independent financial planning through Attivo Financial Planning.”