Aims to replicate service at former firm, UK Wealth Management
Chief operating officer Simon Ray made executive director
Traded shares during takeover negotiations
Both firms have been on the acquisition trail for several years
Former Ignis sales director left Ashcourt Rowan following Towry deal
Wealth manager Towry is to move its self-invested personal pension (SIPP) clients onto the James Hay platform after the closure of its SIPP operation later this year.
Wealth manager Towry has completed the buyout of rival firm Ashcourt Rowan.
Wealth management group is close to launching online services for clients, according to a report in the Financial Times.
Towry has increased its offer for Ashcourt Rowan to £120m, a move which is understood to have been prompted by rival bidders circling the firm.