Old Mutual Wealth Private Client Advisers has acquired IFA firm Coleman Clough of Shipley, West Yorkshire, to add £33m in assets under advice to its national Financial Planning business.

Coleman Clough will become part of Old Mutual Wealth Private Client Advisers and clients will be serviced from existing offices in the region.

Following the acquisition Roy Clough, founder, director and sole adviser at Coleman Clough will be retiring.  Before his retirement Mr Clough will remain with the business for a transition period.

The acquisition allows Roy to retire from the Financial Planning sector, says Old Mutual Wealth. Old Mutual says his clients will continue to receive “quality ongoing financial advice” from Old Mutual Wealth Private Client Advisers.

Old Mutual Wealth Private Client Advisers managing director Nigel Speirs said: “I am very excited about this opportunity to grow our business, and our Yorkshire office, with the acquisition of a firm with a reputation for professional and personalised service.

“This is a reputation earned by Roy and we look forward to building on that fantastic work by continuing to deliver above and beyond expectations for clients.”

Mr Clough said: “I am delighted that the business I’ve built will be left in capable hands. I look forward to working with Old Mutual Wealth Private Client Advisers during a handover period that will ensure Coleman Clough’s clients continue to enjoy the same personalised, tailored experience that they are accustomed to.”