Quilter scores £800m more in assets with fresh advisory takeover

WEALTH manager Quilter has snapped up high-end City financial advice firm Prescient in a further boost to its growing advisory business, the Standard can reveal .

The deal for Prescient, signed last month, is the third recent takeover by the firm after buying advisory groups Charles Derby and Lighthouse Group last year.

The acquisition will see 23 staff move to Quilter’s private client business. No price was disclosed but the takeover adds around £800 million of assets.

Prescient caters mostly for high end clients and is expected to work closely with Quilter's premium brand Quilter Cheviot.

Prescient was founded by managing director Chris Woodhams, who will retire following the deal.

Its main office is in the City of London and it has bases in Glasgow, Exeter and York.

Quilter, which sponsors English rugby from the grassroots game to England men’s and women’s rugby internationals at Twickenham, listed on the stock market 18 months ago.

The firm sold its assurance business to ReAssure for £425 million last year.