Tilney Bestinvest completes acquisition of Towry

Tilney Bestinvest announces that it has successfully completed the acquisition of the Towry group. The acquisition was first announced on 4 April 2016, subject to regulatory approval.

The completion of the transaction has created a leading UK wealth management group with over £20 billion of assets under management and administration. The enlarged group offers a comprehensive range of services including financial planning, investment management and advice and, in Bestinvest, a state-of-the-art 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.

Peter Hall, Chief Executive, said: “We are delighted to have completed this transformational deal. This brings together two individually successful businesses to create a truly market leading wealth management group that provides both highly skilled financial planning and award-winning investment management services right across the UK.”

“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. While existing clients will see continuity in their advisers and the personalised service they receive, the greater scale the combination brings will enable us to support clients from a broader office network and offer a wider range of services to suit different needs. 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.”

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