Tilney Bestinvest completes acquisition of Towry

01 August 2016
 

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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Important information

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About Tilney

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.