The chief executive of national IFA Ashcourt Rowan has talked of the importance of scale in wealth management as the company awaits regulatory approval for a near-£100m takeover by Towry.
Jonathan Polin (pictured) said the size of the new outfit will dwarf many wealth management operations in the UK. Restricted wealth manager Towry announced on 2 February it intends to acquire the asset management and independent financial planning business in a £97m deal. The arrangement, it said, would create a top-20 wealth management business in terms of assets under advice. Some 68 independent planners from Ashcourt Rowan will join almost 190 restricted advisers at Towry, should the deal complete as expected in three months' time. "Towry was the best home for our business," Pol...
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