Towry has announced its chairman Glyn Jones will be stepping down with immediate effect.
Former Railtrack chief executive Gerald Corbett, currently a non-executive director of Towry, will become the new chairman.
Jones said the wealth manager had grown "significantly" during his chairmanship.
"I have thoroughly enjoyed my time at Towry but, after five and a half years, I have decided that this is an appropriate time to move on," he said.
CEO Andrew Fisher said Jones had given "outstanding" guidance to the board.
"I am also pleased to note that Glyn will keep a strong relationship with Towry both as a client and as a significant shareholder," he said.
"Gerald has a wealth of public company experience that will be hugely beneficial to us as we continue to strive to become the UK's leading wealth advice firm."
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