Towry has outlined its ambition to become the leading light in the wealth advisory sector after posting a solid set of financials for H1, including a 29% increase in AUM.
The national wealth adviser saw a 47% increase in EBITDA in the first half of 2011 to £9.4m, up from £6.4m for the same period last year. It also saw a 34% improvement in EBITDA margin and 9% increase in revenue for the period, whilst the firm's discretionary AUM surged 29% to £4.5bn against £3.5bn last year. The half year also saw the firm reach a four year revolving credit facility agreement, signed in June, and strengthen its board with appointment of two independent non-executive directors Gerald Corbett and Sally James. "The first half of 2011 has been a further period of grow...
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