Premier Planning and Premier Wealth will bring more than £170m in assets under advice to OMW.

Richard Usmar, owner and managing director of Premier Planning, will remain with the business in a consultancy role, while Mark Grainger, managing director of Premier Wealth, will join OMW Private Client Advisers to ensure continuity of service.

“Growing this business and servicing our clients over more than 30 years has been a real joy,” said Richard.

“I am particularly pleased that I can pass my business over to a well-resourced, client-focused business.

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“I look forward to working with the team for many years to come, knowing that on a day-to-day basis my clients are in safe hands with Mark Grainger and his colleagues at OMW Private Client Advisers.”

The terms of the acquisition mean that OMW Private Client Advisers will take on all liabilities for past advice, ensuring that any future liabilities will not fall on industry-funded compensation schemes.

Nigel Speirs, managing director of OMW Private Client Advisers, added: “This is another important milestone for OMW Private Client Advisers.

“We now have five regional offices, allowing us to deliver quality, face-to-face financial planning to a growing number of clients across the country.”

Founded in 2015, OMW Private Client Advisers previously acquired the Financial Adviser School with advisory network Intrinsic.

Three graduates will soon join OMW Private Client Advisers in various offices around the country after securing their level 4 diploma in financial planning.