Tilney boosts presence in Midlands with acquisition of Index Wealth Management

21 December 2018
 

Tilney, the UK-wide investment and financial planning group, is pleased to announce that, subject to regulatory approval, it is to acquire Index Wealth Management

Established in 2004 by Les Phillips and Noel Farrelly, Index is an award-winning wealth management firm based in Sutton Coldfield. The firm has twelve staff, including three Chartered Financial Planners, three para-planners and a client service support team.

Index Wealth Management provides holistic financial planning and investment advice to a high quality client base comprising entrepreneurs, professionals and high net worth individuals. The firm supports clients with combined assets under advice of £243 million, with the average client having assets under advice in excess of £1 million. Index Wealth Management’s multi-asset investment approach is focused on both traditional passive funds and ‘smart beta’ investments.

Les Phillips, founding partner of Index Wealth Management, said: “We are very proud of the business we have built over the last 14 years but have also been thinking carefully about the future. Over time we have come to recognise the benefits of becoming part of a bigger group, with significant resources. We were determined to find a partner with similar values to us and with a commitment to expertise in both financial planning and investment. We have got to know Tilney really well and have been impressed by their ethos of professionalism and putting clients first. Tilney also has real breadth and depth in its investment approach and the flexibility to accommodate our focus on using passive funds. Tilney is a very natural home for us.”

Chris Woodhouse, CEO of Tilney, commented: “Index is a great business which has earned a reputation for exceptional client service and is a really strong cultural fit with us. We have been expanding our presence in the Midlands in recent years and this acquisition will further cement Tilney’s position as the leading wealth management firm in the region. We will continue to explore acquisition opportunities right across the UK with high quality businesses who can see the benefits that our scale can bring in terms of infrastructure and support, enabling them to focus on delivering a very personalised and professional service to their clients.”

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.