Tilney and Bestinvest have completed their merger creating a UK private client investment and financial planning group with GBP9 billion of client assets.
The enlarged business has circa 400 employees located in 16 permanent offices, with major regional hubs in Birmingham, Edinburgh, Glasgow, Liverpool and London.
The business provides a broad spectrum of services including investment management for private clients, financial intermediaries and charities, financial planning and an online investment service for investors who make their own decisions.
Peter Hall, chief executive of Tilney Bestinvest, says: “Tilney Bestinvest is incredibly well positioned to take advantage of the structural changes taking place in the market and we are very excited about growth prospects for the business. While many financial intermediaries either focus on high net worth clients or so-called ‘DIY investors’, our diversified model means we can support clients through their financial lives as their circumstances and needs change. We are able to capitalise on both the financial planning and in-retirement investment management opportunities created by the ‘pension revolution’, participate in the growth of self-directed investing and through our Tilney for Intermediaries business can support other firms of financial advisers looking for a partner who can provide their clients with strong performing investment solutions.
“Providing retirement planning advice and investment solutions will be a key focus for the business over the coming years and we are already actively engaged in a major recruitment drive to ensure we maximise the opportunity.”
Philip Muelder, partner in the financial services team at Permira, whose funds have backed the merger of Tilney and Bestinvest, says: “Tilney Bestinvest is a market-leading firm, co-owned by its staff and led by a strong and dynamic management team. The new brand brings together the rich heritage of Tilney, with Bestinvest’s reputation for innovation and a shared culture of putting clients first. The combined strength means the business has the breadth of services to help clients from across the UK whether they need advice, portfolio management or want to manage their own investments. We look forward to supporting the business in its next phase of growth.”