Old Mutual Wealth Private Client Advisers is set to acquire financial planning firm DQS Financial Management, adding £200m in assets under advice.
Old Mutual Wealth Private Client Advisers, the appointed representative of Intrinsic, offers a financial planning service that leverages Old Mutual Wealth's investment capability across Quilter Cheviot and Old Mutual Global Investors .
The acquisition will add £200m in assets under advice and 650 clients to the Old Mutual Wealth-branded financial planning business, which launched in 2015.
DQS staff, including five advisers, will remain with the company, with its offices operating under the Old Mutual Wealth Private Client Advisers brand.
The firm was founded in 2001 by directors Chris Dyson, Rob Quaintance and Carrie Payne, all of whom will remain with the business.
The business provides financial planning to clients from its base in Newton Abbot. In 2006, the firm acquired Castellan Financial Management.
The latest acquisition is subject to regulatory approval.
Old Mutual Wealth chief distribution officer Richard Freeman said: "At Old Mutual Wealth we are absolutely committed to investing in the future of face-to-face financial planning, and bringing well-controlled, high-quality financial planning to more customers.
"We will continue to invest in our proposition supporting the wider adviser market as well as our distribution capabilities through Intrinsic."
DQS managing director Chris Dyson added: "Aligning with a business focused on delivering good customer outcomes through advice and ongoing service with an excellent pedigree in investment management has been very important to us and will enable us to continue to deliver a first-class proposition to our clients."
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