Companies  

Bestinvest rebranded following Tilney purchase

On completion of the merger of Bestinvest and Deutsche Bank’s UK regional wealth management business, the enlarged group will be named Tilney Bestinvest and will operate under the brand ‘Tilney for Intermediaries’ in the business to business market.

The choice of brand name follows the announcement in February that the Permira funds, which have invested in Bestinvest, had agreed to acquire Tilney from Deutsche Bank.

The transactions, which are subject to regulatory approval, are expected to complete in June.

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Peter Hall will lead the combined group with the existing Bestinvest management team added to by the office heads from the four Tilney locations.

Tilney Bestinvest will have approximately 400 employees, about 100 of whom are client advisers and investment managers.

Gareth Lewis, currently chief investment officer at Bestinvest, will lead the investment process.

The overall business split will be 63 per cent discretionary, 17 per cent advisory and 20 per cent execution-only.

According to Mr Hall, the launch of the Tilney for Intermediaries brand will mark a clear distinction between the group’s business to business and direct offerings.

Headed by Miles Robinson, Tilney for Intermediaries will service clients of 250 UK financial advisers accounting for more than £1.1bn of assets.

Mr Hall said: “Tilney has a rich heritage and we are excited to be reintroducing the brand into the market. We are very committed to the UK intermediary market, and believe that we can offer a top quality range of investment services.

“Tilney for Intermediaries will be a major area of focus for the business over the coming years both among UK advisers and as we look to build on the success we have had providing investment management solutions to the clients of our regional partner in Asia.”