The two DFMs have been linked with a merger facilitated by Bridgepoint, which had invested in Quilter in early 2012.
Commenting on the move, Quilter chief executive, Martin Baines, said: "When Bridgepoint invested in Quilter earlier this year, we stated that an active search for complementary acquisitions would follow."
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
"We are currently in exclusive discussions with Cheviot Asset Management and expect to be able to provide more information in due course," Baines added.
Currently, Cheviot has around GBP4 billion in assets under management (AUM) and the combined unit would have around GBP12 billion in client assets, making it the second largest wealth manager in the country behind Brewin Dolphin.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
