South West accountancy and wealth management firm Old Mill has acquired Winscombe-based Quro Financial Solutions.
This is Old Mill's second acquisition deal, the first was Brook Financial in June 2022. It comes as the firm continues its plans to become the "fastest growing practice in the South West". Old Mill said Quro will support its "ambitious" 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 to offer specialist advice for owners 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 (Self Invested Personal Pensions) and SSAS (Small-Self Administered Schemes) to purchase and invest in commercial property on behalf of individuals and businesses.
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Mr Johnson said: “While many firms will offer their clients access to SSAS and SIPP, we go a step further, and provide clients with a full project management solution, from the inception of the plan to the completion of purchase, and this has been our USP for a number of years now.”
Mr and Mrs Johnson are planning to retire and so have chosen Old Mill to take the reigns of their business. Quro currently looks after 85 clients and manages 40 SSAS schemes.
Mr Johnson added: “When you own and run a family firm, the decision to retire is not an easy one because you are so invested in your clients, and you need to know that they will be as well looked after by the new business as they were with you.
“When we started putting feelers out to find a buyer, Old Mill’s name kept coming up. We knew Old Mill was as a well-established, fast-growing and ambitious regional firm, but we needed to know it was the right fit culturally too, and from our first meeting with the CEO, Kevin Whitmarsh, it was clear we’d found the right home for our business.”
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.”
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