The merged Bestinvest and Deutsche Bank wealth management business will operate under the Tilney for Intermediaries brand in the B2B market.
The direct to consumer brand and the name of the enlarged group will be Tilney Bestinvest.
The name change follows an agreement by the Permira funds, investors in Bestinvest, to acquire Tilney from Deutsche Bank.
Chief executive Peter Hall will lead the combined group, while Bestinvest chief investment officer Gareth Lewis will head up the investment strategy. Office heads from Tilney will join the existing Bestinvest management team.
Hall said: “We are very committed to the UK intermediary market, and believe that we can offer a top quality range of investment services.
“Tilney for Intermediaries will be a major area of focus for the business over the coming years both among UK advisers and as we look to build on the success we have had providing investment management solutions to the clients of our regional partner in Asia.”
Tilney Bestinvest will have 16 locations in the UK, including major offices in London, Liverpool, Birmingham, Edinburgh and Glasgow. The overall business split will be 63% discretionary, 17% advisory and 20% execution only.
Tilney for Intermediaries will be headed by Miles Robinson, and will service clients of 250 UK financial advisers accounting for over £1.1bn of assets.
