Old Mutual Wealth acquires Birmingham-based advisory firms

Establish a West Midlands presence

Old Mutual Wealth Private Clients has announced the acquisition of two Birmingham-based advisory firms Premier Planning and Premier Wealth, adding around £170m in assets.

The acquisitions will help establish the firm's presence in Birmingham with Premier holding a strong local presence in West Midlands. Mark Grainger, managing director of Premier Wealth will join Old Mutual Wealth while Richard Usmar, managing director and owner of Premier Planning will remain in a consultancy role to oversee the transition. OMW Private Client Advisers will take on all liabilities for past advice. The move follows a number acquisitions made by the firm last year including the £250m takeover of Beaumont Robinson, a West Yorkshire based financial planning firm and the...