Bridgepoint’s Quilter in talks to buy Cheviot Asset Management

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Quilter, the former wealth management arm of Morgan Stanley Smith Barney bought by Bridgepoint earlier this year, is reported to be in advanced talks to buy Cheviot Asset Management.

Cheviot Asset Management, which has about £4bn under management, will be combined with Quilter under the terms of the deal, Sky News reported.

The merged entity is expected to be called Quilter Cheviot and will become the UK’s second-largest independent private client management firm behind Brewin Dolphin, with around £12bn of AUM.

The deal is expected to be completed within a fortnight, according to a report by Dow Jones.

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