Quilter Private Client Advisers (PCA) has bought Petrus Financial Services, ROC Consultants and MJS Wilson & Co.
No transaction details were disclosed.
Won’t accept just anybody
Speaking to International Adviser ahead of the M&A deals, Dominic Rose, strategy and acquisition director at Quilter PCA, said: “We are very active in the space and we believe in the adviser sector, and we will continue to invest in it.
“There will be some businesses we acquire that will bring with them their own expertise that we can use to enhance our client proposition. For us, it is about making sure the clients in the business that we are seeking to acquire meet our target demographic.
“We advise affluent to high net worth clients, who have got investible assets of £350,000.
“We also want to make sure we improve the outcomes for that client, and make sure they are better off joining our business, if not we will not buy it.”
Details of the deals
Windsor-based Petrus Financial Services is owned by advisers Philip Dendy, Nigel Pearce and David Main and operations director Georgina Warwick.
All the advisers will retire following a transition period, where clients will be introduced to their financial planners located at Quilter PCA’s London office.
Warwick will join Quilter.
Clients of Surrey-based ROC Consultants will also now be serviced by the Quilter PCA London office, with owner and adviser Trevor Allum set to retire following the deal.
Finally, both the London and Chester Quilter PCA offices will service clients of the financial advice business MJS Wilson.
This is the first M&A for Quilter’s financial planning arm since January 2019.
It bought Reading-based Freedom Financial Planning and Stephen Spires Financial Consultants, which was based in south Manchester.
IA also reported in November 2018 that Quilter PCA had acquired three UK-based financial planning businesses.