Old Mutual Wealth Private Client Advisers (OMWPCA) has acquired Scottish independent financial adviser DG Pryde, adding £200 million of assets under management.
DG Pryde is based in Duns, outside Edinburgh, but the majority of its clients located in London and the South East.
Having founded the firm in 2005, director Douglas Pryde is now looking to wind down.
He 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.’
Dominic Rose (pictured), a director at OMWPCA, added: ‘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.’
Established in 2015, OMWPCA employs over 50 financial advisers across the UK. According to a presentation last year, the firm has 6,000 clients and targets those with at least £250,000 to invest.
The firm will change its name to Quilter Private Client Advisers later this year under Old Mutual Wealth’s flotation and rebrand plans.