Towry is working on expanding its financial planning proposition in the second half of this year, following the acquisition of advice and discretionary firm Ashcourt Rowan.
The deal completed last month for £120m, bringing with it complementary investment services and advice propositions, according to Towry’s head of client proposition John Porteous.
Speaking to FTAdviser, he explained that he helped to drive these “accelerated” plans to build a broader financial planning proposition when he joined a year ago.
“We looked at external trends, set up an internal practitioner panel, set up a 400-strong client panel, and with their input started to build out a range of services.
“The acquisition accelerated this thinking via complementary functionality and people, so we’re still in the process of fitting everything together, but aiming for a coherent set of segmented advice services, supported by a flexible range of investments underneath.”
Ashcourt Rowan’s centralised investment proposition and discretionary service should complement Towry’s existing Independent Investment Management proposition, which consists of four portfolios run on a discretionary basis run by Towry Investment Management, Mr Porteous said.
He could not divulge much more, but said that the roll-out of online support materials would be coming in August, with details of Towry branding for the push coming in the next couple of weeks.
“We’re working towards an omni-channel end game,” he added, noting additional work on digital simplified advice components that was already underway.
Chief executive Rob Devey previously told FTAdviser that the restricted advice and investment firm was set to launch new and improved telephone and digital channels in the second half, following such developments being alluded to in its annual results.