Tilney, the UK investment and financial planning group, has acquired the wealth management business of Moore Stephens, a UK accountancy and advisory firm, by way of a business transfer agreement.
The Moore Stephens Wealth Management team provides bespoke financial planning and investment advice to personal, corporate and trust clients with combined assets under advice of £340m.
The transaction will see 11 Moore Stephens staff based in London transfer across to Tilney, five of whom are advisers.
The team includes two Partners of Moore Stephens: Stephen Humphreys, Head of the Moore Stephens wealth management division, who has been with the firm since 1989, and James Springham, who has been with the business since 1999.
Stephen Humphreys, Partner, Moore Stephens Wealth Management, said: “We are very excited to be joining Tilney and have been impressed with the firm’s depth of expertise in both financial planning and investment management. Tilney also has a lot of experience advising the clients of both accountancy firms and lawyers, so the understanding and cultural fit between our team and their businesses really is excellent. The transfer will enable us to provide continuity of service to our clients but as part of a major standalone wealth management group.”
Chris Woodhouse, CEO of Tilney, added: “We are delighted to welcome the Moore Stephens Wealth Management team and clients to Tilney. This is a very high quality and professional business that will add further strength to our team in London. Tilney has established excellent connections with a number of major accountancy and professional services firms and we now look forward to developing an ongoing relationship with Moore Stephens over the coming years.”