bestinvest

Both firms have been on the acquisition trail for several years

Run by Gareth Lewis and Ben Seager-Scott

Towry put up for sale in 2015

A financial planning and investment service offering regulated advice, guidance and execution-only services to the over-50s has been launched in a joint venture between Tilney Bestinvest and Saga.

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Investor money in poorly performing funds had doubled to £14.25bn over the past year, with Invesco Perpetual managing the most ‘dog' assets under management, Bestinvest reveals.