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Towry replaced by Tilney brand

Towry replaced by Tilney brand

Financial planning and investment group Tilney Bestinvest has officially rebranded as the Tilney Group, following its integration with fellow financial planner Towry.

The newly-integrated firm will operate under the Tilney brand for financial planning, investment management and investment advice, although the group’s services to self-directed investors will continue to use the Bestinvest brand under the title ‘Powered by Tilney’. 

The firm is now seeking to add new executives to its team as it continues its nationwide expansion.

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“The rebrand is a very significant moment for us, demonstrating that the 2016 integration of Tilney Bestinvest and Towry is now complete,” said Peter Hall, chief executive of the Tilney Group. 

“We are truly one business built on the combined strengths of the legacy firms and with a clear and compelling service proposition which is reflected in a new, fresh visual images and logo.”

“With a range of services to support clients across the UK and a really top quality team of advisers, I believe this business is exceptionally well positioned for the future. 

"We have now entered a new organic growth phase and will be investing significantly in building the brand with the launch of a major advertising campaign. 

“We are also kicking off a significant recruitment drive to seek out additional high calibre financial planners and investment managers who want to be part of a successful and growing firm that is committed to the very highest standards of professionalism.”

Headquartered in Mayfair, London, the Tilney Group now comprises more than 300 financial planners, investment managers and advisers supporting over 100,000 clients from a network of 30 offices across the UK.   

Back in September, Towry’s head of investment Andrew Wilson announced he was to leave the company following its takeover by wealth management rival Tilney Bestinvest.

Towry has confirmed Mr Wilson has decided to leave the business in order to pursue new opportunities.

The investment boss had spent 22 years at the company, joining in 1994 when it was called John Scott & Partners.

It was in April 2016 that Tilney announced it had purchased Towry for £600m as it looked to offer a wider range of services for clients.

The sale saw Towry’s private equity backer Palamon Capital Partners net 13 times the capital it invested in the independent wealth manager, which has more than £9bn of client assets.

The deal came just two months after Tilney Bestinvest claimed rumours it was lining up a £700m deal for rival advice group Towry were “pure speculation”.

It was in December 2015 that Palamon Capital Partners announced it had decided to sell the advice business, then reportedly valued at £600m, after giving up on plans to float it on the stock market.