Wealth Management

Wealth manager Towry has completed the buyout of rival firm Ashcourt Rowan.

Former Signia Wealth director Ollie Murray has joined Smith & Williamson as an associate director in its investment management business.

Charles Stanley is in exclusive talks to sell its securities business to stockbroker Panmure Gordon, putting an end to rumours US firm Stifel Financial was the likeliest buyer.

Tavistock Investments has taken over Duchy Independent Financial Advisers, continuing a wave of consolidation in the IFA market.

Firms trying to expand into new business areas are having to wait 85% longer for Financial Conduct Authority (FCA) authorisation than two years ago.

Wealth consolidator AFH has made its tenth deal in less than a year with the acquisition of a national advisory firm.

Brooks Macdonald has seen an increase in its funds under management over its financial third quarter, driven by new discretionary business.

Pensions reforms, underserved areas of the market, and economies of scale are driving more investment managers to broaden the type of wealth management service they offer clients.

Wealth manager London & Capital has hired Towry's general counsel Thomas Donlon in a bid to manage regulatory change and drive business growth.

Investec Wealth & Investment has launched a private office to expand its services for high net worth clients.