Old Mutual Wealth Private Client Advisers (Old Mutual) has snapped up Dodd Murray, a Cumbria-based financial planning firm, for an undisclosed sum.

Dodd Murray’s Carlisle office will now serve as a new regional hub for Old Mutual.

The transaction adds £205m in assets under advice to Old Mutual’s books.

A total of three advisers and additional support staff from Dodd Murray will move to Old Mutual as part of the deal, with Dodd Murray managing director Chris Fuller taking up the role of regional director at Old Mutual.

“Becoming part of Old Mutual Wealth Private Client Advisers gives us access to the scale and resource required to grow our business,” Fuller stated.

Commenting on the takeover, Old Mutual managing director Nigel Speirs said: “I know the business is going to be a good fit for us and everyone at Old Mutual Wealth Private Client Advisers is really looking forward to working with Chris Fuller and his team to continue the fantastic work they have accomplished to date.”

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