UK wealth manager snaps up Sipp firm

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Wealth management and accountancy firm Old Mill has acquired self-invested personal pension (Sipp) and commercial property specialist Quro Financial Solutions for an undisclosed sum.

The deal follows the purchase of Brook Financial in June 2022 – as part of Old Mill’s five-year growth plan to double the size of the business by 2026.

Quro Financial Solutions was launched by husband-and-wife team Matt and Bren Johnson in 2011, when they saw a gap in the market for specialist advice for owner managers looking to purchase commercial property through their pensions.

Over the past 12 years, Quro has established itself as specialists in the use of Sipp and Small-self administered schemes (Ssas) to purchase and invest in commercial property on behalf of individuals and businesses.

Quro currently looks after 85 clients and manages 40 Ssas schemes.

Kevin Whitmarsh, chief executive at Old Mill, said: “Quro is a fast-growing specialist business, with an excellent client base and an impressive growth record and it will be a huge asset to the Old Mill family.

“Its high quality, specialist Ssas and Sipp service will become an extension of our already comprehensive pensions offering, while our established expertise across accountancy, tax, financial planning and wealth management will offer Quro’s clients a broader suite of services, all under one roof.”