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March 16, 2017

Old Mutual Wealth snaps up two Birmingham-based advice firms

Old Mutual Wealth (OMW) Private Client Advisers has set up a Birmingham office with the acquisition of local advisory businesses Premier Planning and Premier Wealth for an undisclosed sum.

By Verdict Staff

Old Mutual Wealth (OMW) Private Client Advisers has set up a Birmingham office with the acquisition of local advisory businesses Premier Planning and Premier Wealth for an undisclosed sum. 

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  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
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The acquisition will add £170m in assets to OMW Private Client Advisers’ portfolio.

Under the terms of the deal, OMW Private Client Advisers will take on all liabilities for Premier’s past advice. According to OMW, this would ensure “that the acquired firms do not leave any liability which could in future fall on industry-funded compensation schemes”.   

Premier Planning owner and managing director Richard Usmar will remain with the business in a consultancy role, while Premier Wealth managing director Mark Grainger will join OMW Private Client Advisers as part of the deal.

OMW Private Client Advisers managing director Nigel Speirs said: “This is another important milestone for Old Mutual Wealth Private Client Advisers.

“We now have five regional offices, allowing us to deliver quality face to face financial planning to a growing number of clients across the country.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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