Tilney Bestinvest has completed its acquisition of Towry, creating one of the UK’s leading wealth management groups with over £20bn of assets under management and administration.
The deal was first announced back in April and was subject to regulatory approval.
Tilney Bestinvest and Towry will remain as brand names and the combined business now has teams of financial planners and investment managers operating from a network of more than 30 offices across the UK.
Chief Executive Peter Hall 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.”