M and A
Old Mutual Wealth Buys Second Firm In Two Months

Old Mutual Wealth continues to build out its operations with another acquisition.
Old Mutual
Wealth has acquired Maestro
Financial Services, a month after purchasing Infiniti
Financial Planning, as the firm looks to continue to increase
its financial planning operation.
Maestro, based in Cheadle, Greater Manchester, will become part
of Old Mutual Wealth Private Client Advisers and will operate
within the firm’s Chester region, Old Mutual Wealth said in a
statement yesterday.
The acquisition will add more than £120 million ($155 million) in
assets under management to Old Mutual Wealth’s advisor business.
The financial terms of the deal were not disclosed.
Owner and managing director of Maestro, Niel Lingwood, will join
Old Mutual Wealth Private Client Advisers, alongside additional
support staff. Maestro was set up by Lingwood in 1984.
“In 2015, we launched Old Mutual Wealth Private Client Advisers
with the aim of helping a growing number of UK households realise
the benefits of professional financial planning,” said Nigel
Speirs, managing director at Old Mutual Wealth Private Client
Advisers. “I’m delighted that we can now add to our Chester
office by welcoming Niel and his colleagues into the
business.”
In April 2017, WealthBriefing reported that
Old Mutual Wealth acquired Shropshire-based Infiniti Financial
Planning for an undisclosed sum.