Tilney Smith & Williamson has acquired financial and investment advisory firm HFS Milbourne.
The Guildford based firm supports clients with £450m of assets under influence, including £350m under management.
The HFS Milbourne team, led by Rod Milne and Colin Hayden-Cook, both joint managing directors, will join Tilney Smith & Williamson’s financial planning business in Guildford, providing clients with continuity in their adviser relationships.
Chris Woodhouse, group chief executive officer of Tilney Smith & Williamson, said: “Colin and Rod have built a high-quality, client-focused business over many years that they can rightly be very proud of.
"We are delighted that they have chosen to become part of Tilney Smith & Williamson and to welcome the HFS Milbourne team to our business."
He added: “HFS Milbourne are joining the group at a time when the importance of getting sound, expert advice has arguably never been greater given the impact of the pandemic.
“Our ability to support clients with both their personal wealth management needs and business interests through our range of professional services is unrivalled in the market and so we are uniquely well-positioned to help clients navigate the challenges of the current environment and beyond.”
The advice firm was formed in 2005 through the merger of Milbourne Financial Services and Hayden Financial Services, both of which were founded in the mid-1980s respectively by the existing joint managing directors.
The business has approximately thirty staff, including seven advisers, and provides both holistic personal financial planning and investment advice, as well as corporate financial planning and employee benefits services.
Milne commented: “We are proud of what we have built at HFS Milbourne, so the bar was high in choosing a long-term home for both our team and clients.
“Tilney Smith & Williamson stood out above other potential acquirers with its breadth of services and successful track record of combining advice businesses.”
Hayden-Cook added: “We have been really impressed with the culture that Tilney Smith & Williamson has developed.
“As part of the larger group, our clients will benefit from the un-doubted advantages that much greater scale brings in terms of systems, resources and expertise, while also allowing us to remain focused on the thing that is most important to us: supporting our clients with highly-personalised financial advice.
“We look forward to our future as part of the Tilney Smith & Williamson team in Surrey.”
Tilney completed its takeover of Smith and Williamson in September, resulting in the company as it is today.
Tom Higgins is a freelance reporter for FTAdviser