Tilney acquires book of assets from Midas03 August 2017
Tilney, the UK-wide investment and financial planning group, is pleased to announce that it has concluded an agreement to acquire the assets of Midas Investment Management.
Midas is a Manchester-based private client investment management and advisory business that was established in 2001. Midas supports £162 million of client assets through a combination of discretionary, advisory and execution-only accounts as well as a specialist IHT relief portfolio management service. The transaction will see this book of assets and clients transfer to Tilney, along with Simon Reeks, director of private client investment management who has worked at Midas since its inception, and senior settlements executive Michael Waddington. Simon and Mike will be based in Tilney’s Manchester office.
Alan Edwards, Tilney’s Head of Investment Management in England, commented: “We are delighted to conclude this agreement which will add to the really strong team Tilney has in its historic heartland of North West England, while providing continuity of relationships for Midas’s clients. Simon is a first class private client investment manager with great client relationships and I am confident he will play a key role in successfully growing our business further in the region.”
Mark Sheppard, founder and owner of Midas, added: “I am proud that since 2001 we have built a business that has always put our clients first and so as Simon and I thought about the right new home for our clients, it was vital to find a firm with a similar ethos. In Tilney we have found a firm focused on delivering a really personalised and professional range of services, with a strong commitment to the North West and with an excellent investment pedigree. I wish Simon and Mike every success at Tilney.”
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Tilney is a leading investment and financial planning group that builds on a heritage of more than 180 years. Our clients are private investors, charities and professional intermediaries who trust us with over £23 billion of their assets. We offer a range of services including financial planning, investment management and advice and, through our Bestinvest service, a leading online platform for those who prefer to manage their own investments.
We have won numerous awards. Tilney has been awarded Best Conventional Advisory Service at the 2018 City of London Wealth Management Awards, Best Advisory Service in the 2015 City of London Wealth Management Awards; Investment Award – Cautious category in the Private Asset Management Awards; and Stockbroker of the Year, Execution-only Stockbroker of the Year and Self-select ISA Provider of the Year 2015, as voted by readers of the Financial Times and Investors Chronicle. Bestinvest was voted Best SIPP Provider and Best Fund Platform at the 2017 City of London Wealth Management Awards, Best Direct SIPP Provider at the YourMoney.com Awards 2017, Best Stocks & Shares ISA Provider at the 2017 Shares Awards, as well as Best Self Select ISA Provider, Best Online/Execution-only Stockbroker and Best Investment Platform 2017 at the FT and Investors Chronicle Investment and Wealth Management Awards, as voted by readers of the FT and Investors Chronicle.
Headquartered in Mayfair, London, the Tilney Group employs over 1,000 staff across our network of 30 offices, enabling us to support clients with a local service throughout the UK.