While the overall group is in the midst of the most radical reshaping which will transform the structure of the company, Old Mutual Wealth’s personal financial planning division, Old Mutual Wealth Private Client Advisers has continued its spate of acquisitions as it develops its national footprint.
Old Mutual Wealth has made its fifth acquisition so far this year in buying Yorkshire-based Coleman Clough. Although one of its smaller deals, adding only £33m in assets under management, the deal is important in a regional context, extending OMW’s franchise in the North of England.
Like the larger Beaumont Robinson, which OMW bought last year, Coleman Clough is based in Shipley and there are obvious synergies in bringing the two companies together. Coleman Clough’s founder and director Roy Clough will retire once the deal is completed. It follows the acquisition of Dodd Murray in Carlisle in the summer, which gave aOMW natonal coverage from Devon to Cumbria iin its six offices.
OMW director Nigel Speirs says; “I am very excited about this opportunity to grow our business, and our Yorkshire office, with the acquisition of a firm with a reputation for professional and personalised service.” It seems that further deals are likely in the foreseeable future.