Old Mutual Wealth have continued their plan to set up private client regional hubs through choice acquisitions confirming today the purchase of Beaumont Williams, the multi-adviser firm based in Shipley, just outside Leeds.
Beaumont Williams advises some 850 retail and corporate clients, and the deal will add £250M FUM to Old Mutual Wealth Private Client Advisers. The Yorkshire hub will give this private client arm of Old Mutual a forth office, following the Newton Abbot acquisition announced a couple of months back, and the original London and Chester offices.
Michael Wall, MD at Beaumont Williams is said to be remaining with the business, moving to a regional director role within Old Mutual Wealth Private Client Advisers.
Nigel Speirs, Old Mutual’s Private Client Advisers’ managing director, said: ‘This is another important milestone as we aim to grow a wealth management business designed to deliver great customer outcomes by combining Old Mutual Wealth’s stable of investment, platform and advice solutions.’
Richard Freeman, Old Mutual Wealth chief distribution officer, said: ‘At Old Mutual Wealth we have made a firm commitment to invest across the entire financial planning industry. Building our own-brand wealth management offering through the Private Client Advisers business is another important example of our commitment to growing the footprint of face to face advice across the UK.’
The deal is awaiting regulatory approval.
If you are interested in talking to Old Mutual Wealth Private Client Advisers about purchasing your business or client book, contact Louise Jeffreys at firstname.lastname@example.org