The purchase of three new financial planning firms has taken the number of acquisitions by Quilter this year to 11. Eastgate Financial Management, Clive C Aitkenhead Financial Consultant and Holdaway Johnson, based in Cheltenham, Blackburn and Surrey respectively, have been bought for an undisclosed sum. Eastgate’s clients will be redirected to Quilter’s branch in Birmingham, with Aitkenhead clients to be serviced in Chester and Holdaway Johnson clients moving to the London office.
Head of acquisitions at Quilter Private Client Advisers, stated: “We are pleased to be able to continue to expand our regional offices with the acquisitions of these three excellent businesses. Each one fits well with our business and culture and we look forward to continuing to give David, Clive and Charles’ clients the quality, face-to-face financial planning they are used to. Given we now have a proven track record, we are seeing increasing numbers of firms approaching us directly and we expect to complete on further acquisitions before the end of the year.”
The owners of the three firms, David Irving, Clive Aitkenhead and Charles Holdaway, will be retiring after the transaction.
Mr Irving spoke about his decision: “I spent two years considering the sale of my business and I chose Quilter Private Client Advisers because we share the core belief of having a focus on long-term client relationships, and they are well resourced to ensure the clients will be in good hands long into the future. It was important to find a firm with a very clear strategy for integrating the business to minimise any disruption for clients and I am delighted to have found that in Quilter Private Client Advisers and look forward to helping with the transition.”
