The purchase by OMWPC will bring an additional £33m ($43.3m, €37.3m) of assets under the company’s advice.
Financial details of the transaction were not disclosed.
Following the acquisition, Roy Clough, the founder and sole adviser at Coleman Clough will remain with the firm for a transition period before retiring. He said: “I am delighted that the business I’ve built will be left in capable hands.
“I look forward to working with Old Mutual Wealth Private Client Advisers during a handover period that will ensure Coleman Clough’s clients continue to enjoy the same personalised, tailored experience that they are accustomed to.”
Coleman Clough’s clients will be serviced from existing offices in the region.
Nigel Speirs, managing director at OMWPC, said: “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.
“This is a reputation earned by Roy and we look forward to building on that fantastic work by continuing to deliver above and beyond expectations for clients.”
Coleman Clough is the second advice firm in the Yorkshire region acquired by Old Mutual, following its purchase of Beaumont Robinson in August 2016.