Tilney Bestinvest has broken the £20bn in assets under management mark, with successful completion of the acquisition of the Towry group.
The acquisition was first announced on 4 April, subject to regulatory approval and now sees the Mayfair-headquartered UK wealth management group with more than £20bn of assets under management and administration.
The enlarged group offers a comprehensive range of services including financial planning, investment management and advice and an online service for self-directed investors.
The combined business has teams of financial planners and investment managers operating from a network of more than 30 offices across the UK. There will be no immediate changes to branding at either Tilney Bestinvest or Towry, the firm said in a statement today.
Peter Hall, chief executive at Tilney Bestinvest (pictured below), said: “We have put together an exceptionally experienced leadership team from the two previous businesses and our integration plans are well advanced.
“The enlarged group will build on the ‘best of both’ previous businesses and the strong foundations of a shared commitment to the very highest standards of professionalism.
Hall said that existing clients will see continuity in their advisers and the personalised service they receive, but said that the “greater scale the combination brings will bring a wider range of services.
“The greater scale will also enable us to invest further in areas such as technology, client support and research to ensure that we continue to deliver a first class service and excellent investment performance,” he added.
Tilney Bestinvest have also recently advanced link-ups with a number of global expat independent financial advisers. See next month’s edition of International Investment magazine for an exclusive interview with Mark Ommanney, director of business development at Tilney Bestinvest about the firm’s ongoing work with the international expat adviser community.
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