Old Mutual has acquired a Financial Planning business, it announced this morning, with the price undisclosed.

Old Mutual Wealth Private Client Advisers has taken over A&M Financial Services in Chippenham, Wiltshire, adding £40 million of assets under advice. 

A&M, which was a one adviser sole trader firm, had 86 clients, most of whom were London-based.

Clients of A&M will be served from Old Mutual Wealth Private Client Advisers’ London office.

About 38% of OMW Private Client Advisers’ clients nationally have over £1m in personal wealth, the firm said.

Dominic Rose, director at Old Mutual Wealth Private Client Advisers, said: “This is a fantastic opportunity to grow our business and give A&M’s clients continued access to quality, face-to-face Financial Planning.

“A&M is a firm that has focused on providing a personalised service in London and the South East of England, making it a good cultural fit.”
Since OMW Private Client Advisers was created in 2015 it has made a series of acquisitions across the country, creating six regional hubs.

The business employs more than 50 advisers in the UK, including graduates from its Financial Adviser School.