Old Mill purchased Quro Financial Solutions, a company that specialises in commercial property pensions, as it strives to become the fastest-growing profession in the South West.
The deal, which will help Old Mill’s ambitious five-year development plan to increase the company’s size by 2026, is the second in a series of carefully planned acquisitions.
The first was Brook Financial back in June 2022.
The husband-and-wife duo of Matt and Bren Johnson established Quro Financial Solutions in 2011 after identifying a market need for specialised advice for investors looking to buy commercial property using their pensions.
Over the past 12 years, Quro has built a reputation as a leader in the use of SIPP (self-invested personal pensions) and SSAS (small-self-administered schemes) to buy and invest in commercial property on behalf of people as well as businesses.
Johnson said: “While many firms will offer their clients access to SSAS and SIPP, we go a step further, and provide clients with a full project management solution, from the inception of the plan to the completion of purchase, and this has been our USP for a number of years now.”
However, Quro’s success, which currently looks after 85 clients and manages 40 SSAS schemes – is not just attributable to the distinctive pensions and investment solutions it provides.
It also stems from the dependable, long-term connections the company has built with its clients.
As a result, when Matt and Bren made the decision to sell the company and retire, they were aware that they would need to find a buyer that shared their client-centric values.
“When we started putting feelers out to find a buyer, Old Mill’s name kept coming up. We knew Old Mill was as a well-established, fast-growing, and ambitious regional firm, but we needed to know it was the right fit culturally too, and from our first meeting with the CEO, Kevin Whitmarsh, it was clear we’d found the right home for our business,’’ Johnson added.
Kevin Whitmarsh, CEO at Old Mill said: “Quro is a fast-growing specialist business, with an excellent client base and an impressive growth record and it will be a huge asset to the Old Mill family.
“Its high quality, specialist SSAS and SIPP service will become an extension of our already comprehensive pensions offering, while our established expertise across accountancy, tax, financial planning and wealth management will offer Quro’s clients a broader suite of services, all under one roof.”