Quilter Private Client Advisers has acquired national advice firm Prescient, adding eight financial advisers to its existing regional offices.
The acquisition will bring 23 new staff to Quilter's offices including eight advisers plus three trainee advisers. It will also add more than £800m of assets under advice (AUA) to the company.
Prescient's main office is located in London and has regional offices in Glasgow, Exeter and York. Upon completion, Prescient managing director Chris Woodhams made the decision to retire alongside the firm's director of risk Hugh Bance.
Quilter Private Client Advisers strategy and acquisitions director Dominic Rose said Prescient represented a "fantastic fit" for Quilter. "We believe this acquisition reaffirms that our model is continuing to help business owners realise the value in their companies while delivering good outcomes for clients," he added.
Prescient former managing director Chris Woodhams said Quilter was a logical fit as most clients' assets were held through the Old Mutual Wealth platform. "Our transferring team will provide continuity for the clients during the transition," he said.
In 2019 Quilter acquired AIM-listed adviser firm Lighthouse - its biggest acquisition of the year. The completion of the deal saw some 400 advisers move to Quilter and its advice arm Intrinsic Financial Services, bringing the total number of advisers at the business at the time to 3,900.
Following recent acquisitions
The sale of Quilter's life assurance business to ReAssure has been confirmed.
Company decision making is rarely rational
Search for replacement has started
100 employees move
On or around 30 January
Deadline for nominations is 17 January
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