Tilney Smith & Williamson  

Tilney S&W strengthens Scottish presence with double advice deal

Tilney S&W strengthens Scottish presence with double advice deal

Tilney Smith & Williamson has added Edinburgh-based advice firms Capital Risk Management and MP2 Financial to the group, as part of its succession programme.

The firm said it has strengthened its presence in Scotland with the addition of the teams of the two firms to its Edinburgh office.

As part of the deal, directors Grant Walker and Willie Crockett, as well as eight staff, will move over to Tilney S&W’s offices in Edinburgh.

The owner of Capital’s appointed representative firm, John Mortimer of MP2 Financial, will also join. 

Crockett said: “We are proud of the business that we have built up in the last nine years and last year we began to think carefully about the future. We have come to recognise the benefits of being part of a bigger group with significant resources.

“We were keen to find a partner with similar values to us and with a commitment to expertise in both financial planning and investment. Having researched the market and met with other companies, we were impressed by the professionalism and ethos of Tilney Smith & Williamson and putting their clients first and felt that they were a natural fit for our clients and staff moving forward.”

Tilney S&W told FTAdviser that it has hired the teams at these firms, who will then invite their clients to become clients of the group.

The firm will then work with the clients prior to the advisers' retirements, at which point they will handover to new advisers.

Tilney S&W said it is not acquiring the businesses themselves.

Mortimer said: “I am delighted to be joining Tilney Smith & Williamson and look forward to working with them over the next two years.  

“This move will provide my clients with security in the knowledge that they will benefit from the resources of a national wealth management firm but at a local level as Tilney Smith & Williamson continue to expand throughout Scotland and the rest of the UK.”

Both businesses, which are currently based in Coates Crescent in Edinburgh, provide financial planning, retirement and investment planning services to individuals, families, businesses and trustees. 

Walker said: “From the outset, the team at Capital Risk Management has been committed to providing the highest level of expertise and service to all our clients so the bar was high in choosing a long-term home for our clients and colleagues. 

“Tilney Smith & Williamson impressed us with their culture and the advantages they can offer our clients from being part of a larger organisation, while allowing us to remain focused on supporting our clients with highly personalised financial advice.”

The agreements with Capital Risk Management and MP2 Financial Limited represent the third and fourth deals as part of Tilney S&W’s succession programme for financial advisers approaching retirement. 

Head of strategic partnerships Richard Dawes said: “We have had considerable interest in the scheme since we launched it late last year and invite other advisers who have built their own businesses who are starting to think about their own succession planning to get in touch.”