Old Mill has acquired commercial property pension specialist Quro Financial Solutions as it continues its drive to become the fastest-growing practice in the South West.
The deal is the second in a series of carefully chosen acquisitions – the first was Brook Financial back in June 2022 – that will support Old Mill’s 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 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 (Self Invested Personal Pensions) and SSAS (Small-Self Administered Schemes) to purchase and invest in commercial property on behalf of individuals and businesses.
Matt 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.”
But the success of Quro – which currently looks after 85 clients and manages 40 SSAS schemes – is not solely down to the unique pensions and investment solutions it offers, but also the trusted, long-term relationships the firm has with its clients. So, when Matt and Bren decided they wanted to sell the business and retire, they knew they needed to find a buyer that shared their client-centric approach.
“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,” explained Matt.
“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.”
Bren added: “We have worked hard to make Quro a success and couldn’t be happier knowing that it will continue to grow and develop as a part of Old Mill.”
Kevin Whitmarsh, CEO 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.”