Duns firm sold
Old Mutual Wealth acquires Pryde’s £200m assets
Founding director Douglas Pryde was looking to sell the Duns-based firm whose customers are mainly in London and the South East.
Mr Pryde said: “After spending 30 years building DG Pryde, and having conducted extensive due diligence on potential buyers of my business, I’m happy that my clients are being left in capable hands.”
Pryde will work with Old Mutual Wealth Private Client Advisers as a consultant.
Old Mutual director Dominic Rose said: “This is a fantastic opportunity to grow our business.”
Murphy Wealth expands
Murphy Wealth, the Glasgow-based wealth advisor, is aiming to double in size in the next year.
The firm, which was founded in 1977 by chairman Brian Murphy, and is now run by son Adrian, has had another successful year, increasing headcount by five, taking the firm’s headcount to 15.
The company is about to sign the lease on a much larger office space in Glasgow city centre with room enough for up to 30 employees.
Murphy Wealth is launching a graduate programme with Glasgow Caledonian University in collaboration with its investment and risk department, with the aim of attracting new talent into the advisory sector.