Russell intends to expand the services provided by the OLPG’s members, bringing new resources to bolster its existing investment research, technology and administration capabilities, as well as increasing training opportunities to help advisers thrive and better serve their clients, the firm said in a statement.

Under the terms of the acquisition, the OLPG’s senior team will remain in place. The commercial terms of the transaction were not disclosed.

Russell Systems Limited has agreed terms on which it will acquire the entire share capital of OLPG. The transaction is subject to completion of the transaction documentation and the exercise of compulsory acquisition rights relating to the minority shareholders shares of OLPG. The FCA has approved the change in control with respect to the transaction, the firm said.