Quilter Private Client Advisers has bought national IFA firm Prescient, adding £800m of assets under advice.

The acquisition for an undisclosed sum will see 23 staff, including eight financial advisers and three trainee advisers, join Quilter Private Client Advisers.

Prescient’s HQ is in the City of London with regional offices in Glasgow, Exeter and York. 

The deal paves the way for the retirement of Prescient managing director Chris Woodhams and the firm’s director of risk, Hugh Bance.

Dominic Rose, strategy and acquisitions director at Quilter Private Client Advisers, said: “Prescient represents a fantastic fit for Quilter Private Client Advisers and we are excited to welcome a number of new colleagues and clients to our business.

"We believe this acquisition reaffirms that our model is continuing to help business owners realise the value in their companies while delivering good outcomes for clients.”

Chris Woodhams, former managing director of Prescient, said: “Our long relationship with Quilter, since the Skandia days, meant that this was a logical fit: the majority of our clients’ assets are held through the Old Mutual Wealth platform and we have worked with various technical specialists in Quilter in recent years. Our transferring team will provide continuity for the clients during the transition.”

Parent company Quilter plc is a wealth manager in the UK and internationally which oversees £110 billion in customer investments. It has several arms including a Financial Planning business and wealth platform.