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Old Mutual Wealth completes acquisition of Caerus Capital

Old Mutual Plc unit Old Mutual Wealth completed its acquisition of U.K.-based financial adviser network Caerus Capital Group, following receipt of regulatory and shareholder approvals.

Old Mutual said the acquisition follows Old Mutual Wealth's plan to acquire scalable advice businesses to develop its controlled distribution capability.

Caerus Capital has more than 300 advisers who are responsible for more than £4 billion of assets under advice.