WREN STERLING GROUP HAS PURCHASED MANCHESTER-BASED ADVICE FIRM

Wren Sterling has acquired Mutual Financial Management, who are based in Wilmslow, Cheshire. Mutual has c.1,100 clients and £675m of assets under management. This is the largest acquisition to date for Wren Sterling, bringing its total assets to more than £5.4bn.

Mutual Financial Management is a four-partner-run advice firm, whose partners also own DFM MFDM. It will be rebranded to Wren Sterling and, Mutual’s 29 employees and partners will all become part of the Wren Sterling Group once the deal is complete. Wren Sterling will have 240 staff and nearly 100 advisers.

Mutual Financial Management managing partner, Austin Hutchinson, will continue to run the business and will join Wren Sterling’s executive committee.

Wren Sterling’s executive chairman, Ian Darby said: “Acquiring a business of this calibre and scale is truly game-changing for us and shows the business’ renewed ambition following Lightyear’s investment. What truly sets Mutual apart is its people, who are highly entrepreneurial and innovation-led and share our commitment to the very highest levels of client service.”

Mutual Financial Management managing partner, Austin Hutchinson, added: “We received a lot of interest in the business, but Wren Sterling was the only company who we felt comfortable entrusting our clients and our people to. We really like the Wren Sterling business, it’s people and its growth model. These were our key considerations when choosing our long-term partner.”

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