Wealth managers

Discretionary fund manager Saltus Fund Management has bought Altrincham-based wealth manager Mercater Capital Management for an undisclosed sum.

Brewin Dolphin has appointed COO Henry Algeo as group managing director, a role that will see him heading up the group's investment management offering.

Old Mutual said it is "progressing well" with plans to build Old Mutual Wealth into a leading wealth management business, but is taking further steps to address its cost base.

Wealth manager Brooks Macdonald has announced a spate of acquisitions alongside a hike in profits which have jumped 17% to £8.5m year-on-year.

Marlene Shalton is to spearhead a project by Guardian Wealth Management to become a major force in financial planning in the UK.

Merchant Capital has launched Merchant Wealth, a private client wealth management service.

Morgan Stanley Smith Barney has this morning confirmed the sale of wealth manager Quilter to private equity firm Bridgepoint, in a deal reportedly worth £175m.

Collins Stewart has acquired Surrey-based IFA and private client wealth manager Andersen Charnley for an initial £5m.