Restricted advice group Towry is evaluating its house view on structured products and investment trusts following its acquisition of national IFA Ashcourt Rowan, in a move which could see the combined business registered as independent.
Chief executive Rob Devey said outright independence or a separate IFA offering is "possible" once the proposed £97m deal for Ashcourt, which is expected to receive Financial Conduct Authority (FCA) approval within three months, goes ahead. Towry is in the early stages of comparing processes across the two businesses to identify best practice and it may be, Devey said, that structured products, and particularly investment trusts, are added to advisers' roster. "[Independence] is a possible outcome," former Prudential Assurance UK & Europe CEO Devey said. "We may stay restricted or we ...
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