The merger of Tilney, comprised of Tilney Investment Management and DB PWM Collective Management, and Bestinvest has been completed resulting in a UK private client investment group responsible for £9 billion of assets.
The enlarged business, first announced in February, has approximately 400 employees located in sixteen offices.
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Peter Hall, chief executive of Tilney Bestinvest, said: "Tilney Bestinvest is incredibly well positioned to take advantage of the structural changes taking place in the market and we are very excited about growth prospects for the business. While many financial intermediaries either focus on high net worth clients or so-called ‘DIY investors’, our diversified model means we can support clients through their financial lives as their circumstances and needs change."
Philip Muelder, partner in the financial services team at Permira, whose funds have backed the merger, said: "Tilney Bestinvest is a market-leading firm, co-owned by its staff and led by a strong and dynamic management team. The combined strength means the business has the breadth of services to help clients from across the UK whether they need advice, portfolio management or want to manage their own investments."
