View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
  2. Company news
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. 

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.”

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International