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Quilter acquires Charles Derby

21 February 2019

Quilter is today announcing the acquisition of financial planning business, Charles Derby.

The acquisition will see over 200 (as of 31 December, 2018) restricted financial planners transition to Quilter’s national advice business during 2019.

The acquisition represents the next stage of Quilter’s ambition to broaden out its national advice business. It complements the development of Quilter Private Client Advisers (QPCA), which serves upper affluent and high net worth clients.

As a long-standing member of Quilter’s advice network, Charles Derby already operates within Quilter’s advice framework, which will ensure minimal disruption for its clients and advisers.

Quilter believes in the value of trusted face-to-face financial advice. Today’s announcement sees the business continue to develop its controlled distribution capabilities, which co-exist alongside the firm’s support for independent and restricted financial advisers.

Darren Sharkey has been confirmed as managing director of the national advice business, responsible for QPCA and Charles Derby. Darren was named interim managing director of QPCA in October last year.

Andy Thompson, CEO of Quilter’s advice businesses, comments:

“The need for financial planning has never been greater. However, despite the increasing consumer demand, there is a steadily dwindling supply of financial advisers.

“Quilter is committed to closing that advice gap by supporting the growth and development of the advice market. We see a demand for controlled, scalable advice from a Quilter brand and following the success of Quilter Private Client Advisers we are extending that model so we can serve a wider customer base.

“Charles Derby offers us a great opportunity to further grow our successful national advice business. It has been part of the Intrinsic network since launch, making it an excellent cultural fit and a strong basis for our developing national advice business. I look forward to continue working with Charles Derby’s staff and advisers.”

Chris Fautley, Chairman and CEO of Charles Derby, comments:

“Within Charles Derby we are proud of the growth in customer and adviser numbers we have achieved over the last three years and the acquisition by Quilter offers an exciting opportunity for us to accelerate this growth further. This acquisition allows us to continue to deliver high quality consistent advice from a trusted brand while also enabling us to build and expand our current services.

“The strength and scale that Quilter brings adds further benefits to our clients as we deliver face-to-face advice to our ever growing customer base. Having been closely associated with Quilter, we are delighted to now be joining them and look forward to working together as part of a broader management team.”

 

For more information contact

Kathleen Gallagher
023 8072 6293
07990 004932
kathleen.gallagher@quilter.com

 

Notes to editors:

As members of Intrinsic’s restricted network Charles Derby advisers are already counted as restricted financial planners within our reported accounts and their productivity is already reflected in the overall numbers we disclose.

Notes to Editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £118.4 billion in investments (as at 30 June 2019).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.

The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

Wealth Platforms includes Old Mutual Wealth UK platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

The Quilter plc businesses are being re-branded as follows: 

  • Quilter Financial Planning (previously Intrinsic)
  • Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
  • Charles Derby Group (becoming Quilter Financial Advisers)
  • Quilter Financial Adviser School
  • Quilter Cheviot
  • Quilter Investors
  • Old Mutual Wealth (becoming Quilter Wealth Solutions in 2020)
  • Old Mutual International (becoming Quilter International in 2020)

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.