Quilter Private Client Advisers (Quilter PCA), part of financial services firm Quilter, has acquired two financial planning businesses.
It has bought Reading-based Freedom Financial Planning and Stephen Spires Financial Consultants, which was based in south Manchester.
The financial terms of the deals were not disclosed. The acquisitions will add around £130m ($171m, €149m) in assets under advice to the UK advice business.
Clients of Freedom Financial Planning will be serviced from Quilter PCA’s Chester office.
The managing director of Freedom, Andy Nevett, will retire after helping transition the clients to Quilter PCA.
Nick Heys, financial planning director at Freedom, will join Quilter as a financial planner.
Stephen Spires Financial Consultants’ sole adviser, Stephen Spires, will retire after the successful transfer of clients over to Quilter PCA, where they will be serviced at its London office.
International Adviser reported in November 2018 that Quilter PCA had acquired three UK-based financial planning businesses.
