Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Old Mutual Wealth acquires £200m Scottish IFA

Old Mutual Wealth acquires £200m Scottish IFA

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.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Hugh Young: the buck stops with me on Asia recovery

Hugh Young: the buck stops with me on Asia recovery

The Veteran Asia Pacific fund manager discusses how he is going to improve the performance of Aberdeen Standard Asia Focus and the other investment trusts run by his team.

Play Tim Steer: fund managers will have to get 'stuck in'

Tim Steer: fund managers will have to get 'stuck in'

The second part of our film with former Artemis and New Star fund manager Tim Steer looks at how his profession has evolved over the past two decades.

2 Comments Play Tim Steer: how to spot a stock disaster coming

Tim Steer: how to spot a stock disaster coming

The former Citywire AAA-rated fund manager has written a book on 22 stock disasters and how forensic examination of annual reports could have spotted them coming.

Read More
Your Business: Cover Star Club

Profile: 'Growing pains' - inside a boutique profit battle

2 Comments Profile: 'Growing pains' - inside a boutique profit battle

South London-based Fowler Drew has moved back into the black after spending a couple of years in the red

Wealth Manager on Twitter