Wealth adviser Towry has bought the assets of Baker Tilly's private client financial advice and investment management business for an undisclosed sum.
The deal, which includes the execution only service Link2wealth, is expected to complete in the second quarter of the year. The acquired business originates from the RSM Tenon Financial Advice business that Baker Tilly acquired in 2013. It advises more than 4,500 private clients and holds over £1.5bn of client assets. The large majority of staff, including financial consultants, are expected to transfer, Towry said in an announcement. The purchase follows on from Towry's buyout of Bluefin from Axa in November last year. It has acquired five businesses over the last year. Tow...
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