Acquiring the companies, Freedom Financial Planning and Stephen Spires Financial Consultants, will add around £130m in AUA to the national advice business.

Clients of Freedom Financial Planning will be serviced from Quilter Private Client Advisers’ Chester office.

The managing director of the business, Andy Nevett, will retire after helping transition the clients to Quilter.

Financial Planning director, Nick Heys, will join Quilter as a Financial Planner.

Stephen Spires Financial Consultants’ sole adviser, Stephen Spires, will retire after the successful transfer of clients over to Quilter Private Client Advisers who will be serviced by its London office.

Dominic Rose, strategy and acquisitions director at Quilter Private Client Advisers, said: “It is a pleasure to be able to announce the acquisition of these two financial planning businesses and continue to grow Quilter Private Client Advisers.

“Both these firms align well with our client service proposition and we look forward to continuing to deliver the exceptional service to which the clients are accustomed. We will build on the great work Stephen and Andy have done and wish them well in their retirement.

“Furthermore, we are thrilled to welcome Nick from Freedom Financial Planning to the Quilter PCA team.”

Andy Nevett, managing director and adviser at Freedom Financial Planning, said: “After over thirty years in financial planning it is time for me to enjoy my freedom with the knowledge that my clients will be with a very safe pair of hands given the professional expertise that Quilter Private Clients Advisers offers.”

Stephen Spires, founder of Stephen Spires Financial Consultants, says: “When I decided to sell my business it was important to find a purchaser who cared about my clients and I know I have found exactly that by choosing Quilter Private Client Advisers.”