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British investment manager Quilter Cheviot, which was acquired by Old Mutual Wealth in 2015, has agreed to acquire Attivo Investment Management for an undisclosed sum.

Attivo Investment Management, a subsidiary of Attivo Group, is a discretionary investment management business. The firm is headquartered in Cheltenham and has an office in London.

The deal, which already secured the regulatory nod, will add £300m in assets to Quilter Cheviot’s books.

Quilter Cheviot head of Bristol office James Rodgers and head of charities William Reid will now be responsible for managing clients of Attivo from Quilter Cheviot’s Bristol and London offices, respectively.

Quilter Cheviot CEO David Loudon said: “We are excited about the opportunity to build our business in Southern England as a result of the acquisition of Attivo Investment Management.

“This development demonstrates our commitment to a proactive growth strategy and is a statement of our confidence in the UK’s economy. We are actively seeking to acquire wealth management books of business to help support our organic growth and move further towards Old Mutual Wealth’s goal of becoming the UK’s leading wealth management business.”

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The transaction is expected to be wrapped up in the first quarter of 2017.

Attivo Group CEO Stephen Harper added: “Attivo Group’s focus has always been to be an independent financial planning business and the transfer of the investment management business reinforces our commitment to offering truly independent financial planning through Attivo Financial Planning.”