Financial Planning firm Old Mutual Wealth Private Client Advisers - an appointed rep of Intrinsic - has acquired Scottish IFA firm DG Pryde which has £200m of assets under advice.

DG Pryde is based in Duns, near Edinburgh, but the majority of clients are located in London and the South East. Old Mutual Wealth says that having founded the firm in 2005, director Douglas Pryde is now looking to “wind down” after 30 years in financial services.

Old Mutual Wealth Private Client Advisers was established in 2015 and employs more than 50 financial advisers across the UK. The acquisition, for an undisclosed sum, adds £200 million of assets under advice.

Dominic Rose, director at Old Mutual Wealth Private Client Advisers, said: “This is a fantastic opportunity to grow our business and give DG Pryde’s clients continued access to quality, face-to-face Financial Planning. As a firm that has focused on providing a personalised service, DG Pryde is a good cultural fit with Old Mutual Wealth Private Client Advisers.”

Douglas Pryde, founder and director of DG Pryde Ltd, said: “After spending 30 years building DG Pryde, and having conducted extensive due diligence on potential buyers of my business, I’m happy that my clients are being left in capable hands.

“I look forward to working with Old Mutual Wealth Private Client Advisers as a consultant to ensure clients continue to receive the tailored experience they are familiar with.” 

Old Mutual Wealth Private Client Advisers is part of Quilter plc and is an appointed representative of Intrinsic.