British wealth manager Tilney has taken over the assets of Midas Investment Management, a Manchester-based private client investment management and advisory firm, for an undisclosed sum.
Midas runs discretionary, advisory and execution-only accounts, and a specialist IHT relief portfolio management service, managing £162m in client assets. These assets will now be added to Tilney’s books.
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Midas private client investment management director Simon Reeks and senior settlements executive Michael Waddington will join Tilney’s Manchester office as part of the deal.
Tilney head of investment management in England Alan Edwards said: “We are delighted to conclude this agreement which will add to the really strong team Tilney has in its historic heartland of North West England, while providing continuity of relationships for Midas’s clients.
“Simon is a first class private client investment manager with great client relationships and I am confident he will play a key role in successfully growing our business further in the region.”
