M and A

Old Mutual Wealth Buys Another Financial Planning Firm In UK

Robbie Lawther Reporter London 4 September 2017

Old Mutual Wealth Buys Another Financial Planning Firm In UK

The acquisition is subject to regulatory approval.

Old Mutual Wealth Private Client Advisers has acquired Dodd Murray, the Cumbria-based financial planning business. The acquisition is subject to regulatory approval.

The acquisition adds £205 million ($265.6 million) of assets under advice to the national financial planning business, the firm said in a statement.

Three Dodd Murray advisors and additional support staff will join the business as part of the acquisition. Dodd Murray’s Carlisle office will become a regional office of Old Mutual Wealth Private Client Advisers, complementing its Chester, London, Devon, Birmingham and Yorkshire premises.

Following the completion of the acquisition, Dodd Murray managing director Chris Fuller will become regional director for Old Mutual Wealth Private Client Advisers.

“As we approach two years since the launch of Old Mutual Wealth Private Client Advisers, it is exciting for us that the business continues to grow through the acquisition of high-quality financial planning firms like Dodd Murray," said Old Mutual Wealth Private Client Advisers managing director, Nigel Speirs. “I know the business is going to be a good fit for us and everyone at Old Mutual Wealth Private Client Advisers is really looking forward to working with Chris Fuller and his team to continue the fantastic work they have accomplished to date.”

Dodd Murray business was formed in 2007 when Dodd Financial merged with Murray & Fuller.

WealthBriefing reported that the firm had bought Maestro Financial Services in May, which was its second acquisition in two successive months.

 

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes