Old Mutual Wealth Private Client Advisers is to acquire advice firm DQS Financial Management for an undisclosed sum.
The acquisition will add £200m in assets under advice and 650 clients as result.
DQS’s staff, including five advisers, will also join Old Mutual as part of the deal. Foundinf directors Chris Dyson, Rob Quaintance and Carrie Payne will stay with the business.
Old Mutual Wealth chief distribution officer Richard Freeman 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.”
DQS managing director Dyson 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.”
DQS is based in Newton Abbot and has grown since it was founded in 2001, including through the acquisition of Castellan Financial Management in 2006.