UPDATE: Tilney Bestinvest Towry takeover denied

Towry put up for sale in 2015

Laura Miller
clock • 1 min read

Reports that wealth manager Tilney Bestinvest is planning a takeover of rival Towry in a bid to create a super investment adviser has been denied by people close to the situation.

An article in the Sunday Times over the weekend reported that Tilney, which has £9bn in assets under management, is planning a £700m takeover of its rival. The report said the deal is being "aggressively" sought by Tilney's private equity firm owner Permira. A merger would mean thousands of Britons' investment portfolios under the control of one company. But people close to Tilney have denied the claims. The company said it doesn't comment on market speculation.   Acquisition trails Following its acquisition of Ashcourt Rowan last year, Towry now has around £11bn in assets ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Zero cases of non-financial misconduct opened by FCA in two years

Zero cases of non-financial misconduct opened by FCA in two years

A Freedom of Information request has found

Cristian Angeloni
clock 22 April 2025 • 3 min read
HL co-founder Peter Hargreaves to rejoin board after £5.4bn takeover

HL co-founder Peter Hargreaves to rejoin board after £5.4bn takeover

Co-founded platform in 1981

Linus Uhlig
clock 22 April 2025 • 1 min read
London's millionaire exodus: Advisers will 'undeniably' see wealthy clients move abroad

London's millionaire exodus: Advisers will 'undeniably' see wealthy clients move abroad

Labour's budget ‘main reason' for latest UK exits

Isabel Baxter
clock 17 April 2025 • 6 min read