Quilter has continued to expand its national advice arm with the acquisition of  financial planning business Charles Derby.

The acquisition, for an undisclosed sum, sees over 200 restricted financial planners transition to Quilter. The move represents Quilter’s ambition to broaden out its national advice business.

‘Charles Derby offers us a great opportunity to further grow our successful national advice business. It has been part of the Intrinsic network since launch, making it an excellent cultural fit and a strong basis for our developing national advice business,’ said Andy Thompson, chief executive of Quilter’s advice businesses.

The company also said that Darren Sharkey has been confirmed as managing director of Quilter’s national advice business, responsible for Quilter Private Client Advisers (QPCA) and Charles Derby. He had been serving as interim managing director since October. 

Chris Fautley (pictured), chairman and chief executive of Charles Derby, added: ‘Within Charles Derby we are proud of the growth in customer and adviser numbers we have achieved over the last three years and the acquisition by Quilter offers an exciting opportunity for us to accelerate this growth further.’

In January, the business bought Freedom Financial Planning and Stephen Spires Financial Clients on the heels of a busy 2018, over which time the company struck 11 deals.