Tilney Bestinvest chosen as new brand for 9 billion private client investment and financial planning group

We are pleased to announce that upon completion of the merger of Bestinvest and Deutsche Bank’s UK regional wealth management business, the enlarged group will be named ‘Tilney Bestinvest’. This follows the announcement in February that the Permira funds, who have invested in Bestinvest, had agreed to acquire Tilney from Deutsche Bank. The transactions, which are subject to regulatory approval, are expected to complete in June.

Tilney Bestinvest will be a leading UK private client investment and financial planning group trusted with £9.2bn of client assets, of which 63% will be managed under discretionary arrangements, 17% will be advisory and 20% will be non-advised. The group will provide a broad range of services including investment management for private clients and charities; investment advisory services, financial planning and one of the UK’s leading direct-to-consumer online investment platforms. Tilney Bestinvest will have a nationwide presence across the UK with 16 offices with permanent staff and major locations in London, Liverpool, Birmingham, Edinburgh and Glasgow.

Chief Executive Peter Hall will lead the combined group with the existing Bestinvest management team strengthened by the office heads from the four Tilney locations. Tilney Bestinvest will have circa 400 employees, around 100 of which are client advisers. Gareth Lewis, currently Chief Investment Officer at Bestinvest, will lead the investment process.

Peter Hall, who will be Chief Executive of Tilney Bestinvest, commented: “The merger will enable us to help clients across the whole of the UK and the wealth spectrum whether they want us to manage their portfolio for them, make their own investment decisions or need financial planning advice. The fit of the two businesses in terms of culture, locations and range of services is compelling. The new branding highlights the combination of Tilney’s rich heritage with Bestinvest’s reputation for leading-edge innovation.

“Tilney Bestinvest will be one the UK’s largest standalone private client investment and financial planning groups and we will leverage that scale to the benefit of our clients. We are completely committed to continuing to deliver the highest standards of professionalism and investment expertise which both existing businesses are known for.

“The outlook for Tilney Bestinvest is very exciting at a time when banks have retrenched from large parts of the advice market and radical reform of pension rules will create a real need for access to high quality, trusted advice. We therefore aim to double our financial planning team over the next two years to capitalise on this opportunity, as well as to enhance our investment services for financial advisers through our ‘Tilney for Intermediaries’ division.”

Tilney Bestinvest – key facts:

• £9.2bn of AUM
• 63% discretionary, 17% advisory, 20% execution only
• c.400 employees
• 100 client advisers (financial planners / investment managers)
• Ambition to double financial planning team over the next couple of years
• 16 offices with permanent staff including major offices London, Liverpool, Birmingham, Edinburgh and Glasgow
• B2B presence with 250 UK IFA relationships and regional partners in Asia and Europe. Looking to find a regional partner in Middle East

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About Tilney Bestinvest:

Tilney Bestinvest will be a leading investment and financial planning group that builds on a heritage of more than 150 years. We will look after more than £9 billion of assets on our clients’ behalf and pride ourselves on offering the very highest levels of professional client service with transparent, competitive pricing across our entire range of solutions.

We will offer a broad range of services for clients whether they would like to have their investments managed by us, require the support of a highly qualified adviser, prefer to make their own investment decisions or want to take more than one approach. We also have a nationwide team of expert financial planners to help clients with all aspects of financial planning, including retirement planning.

We have won numerous awards including UK Wealth Manager of the Year, Low-cost SIPP Provider of the Year and Self-select ISA Provider of the Year 2013, as voted by readers of the Financial Times and Investors Chronicle. We are pleased that our greatest source of new business is personal referrals from existing clients.

Headquartered in Mayfair, London, Tilney Bestinvest will employ almost 400 staff across our network of offices, giving us full UK coverage, and we will combine our award-winning research and expertise to provide a personalised service to clients whatever their investment needs.

The Tilney Bestinvest Group of Companies comprises the firms Bestinvest (Brokers) Ltd (Reg. No. 2830297), Tilney Investment Management (Reg. No. 02010520), Bestinvest (Consultants) Ltd (Reg. No. 1550116) and HW Financial Services Ltd (Reg. No. 02030706) all of which are authorised and regulated by the Financial Conduct Authority. Registered office: 6 Chesterfield Gardens, Mayfair, W1J 5BQ.