Old Mutual Wealth Private Client Advisers (Old Mutual) has acquired Coleman Clough, a Yorkshire-based financial advice firm, for an undisclosed sum.

The deal adds £33m assets under advice to Old Mutual’s national financial planning business.

Post-acquisition, Coleman Clough will continue operations from its existing base under Old Mutual Wealth Private Client Advisers.

Founder, director and sole adviser of Coleman Clough Roy Clough will retire after overseeing the transition.

“I look forward to working with Old Mutual Wealth Private Client Advisers during a handover period that will ensure Coleman Clough’s clients continue to enjoy the same personalised, tailored experience that they are accustomed to,” Clough said.

Old Mutual Wealth Private Client Advisers managing director Nigel Speirs said: “I am very excited about this opportunity to grow our business, and our Yorkshire office, with the acquisition of a firm with a reputation for professional and personalised service.”

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This is Old Mutual’s fifth acquisition this year. Earlier it acquired Premier Planning and Premier Wealth, Maestro Financial Services, Infiniti Financial Planning and Dodd Murray.