Regulatory approval has already been obtained and the deal is on track to complete this quarter.
Attivo IM is a discretionary investment management business with £300m under management, operating as a wholly owned subsidiary of Attivo Group Limited.
Attivo IM operates from a head office in Cheltenham and an office in London.
Clients of the acquired business will be managed jointly from Quilter Cheviot’s Bristol and London offices, by head of the Bristol office James Rodgers and head of charities William Reid, respectively.
Chief executive David Loudon, who retires on 30 June, said: “We are excited about the opportunity to build our business in Southern England as a result of the acquisition of Attivo Investment Management. This development demonstrates our commitment to a proactive growth strategy and is a statement of our confidence in the UK’s economy. We are actively seeking to acquire wealth management books of business to help support our organic growth and move further towards Old Mutual Wealth’s goal of becoming the UK’s leading wealth management business.”
Chief executive of Attivo Group Stephen Harper added: “We are pleased to have agreed with Quilter Cheviot to transfer Attivo Investment Management to a company, which like us, places the utmost importance on putting clients first. Attivo Group’s focus has always been to be an independent financial planning business and the transfer of the investment management business reinforces our commitment to offering truly independent financial planning through Attivo Financial Planning.”
