Baker Tilly sells ex-Tenon personal financial advice unit to Towry

by Kevin Reed

More from this author

30 Apr 2014

  • Comments
Laurence Longe

THE PRIVATE client and investment management business of Baker Tilly has been sold to Towry.

The deal, for an undisclosed sum, sees the business, purchased as part of the RSM Tenon acquisition, moved on. It is the second transaction between the two businesses after Baker Tilly sold its own private client arm to Towry in 2007.

More than 4,500 private clients, with assets under management of £1.5bn, will move from the former RSM Tenon Financial Advice business, with the vast vast majority of staff, including financial consultants, moving across.

Laurence Longe, Baker Tilly's managing partner, said: "One of the key strengths of our merger with RSM Tenon is that many of the core service offerings from both firms fit well and complement each other. However, we knew we would need to consider whether some services would play a part in the newly-merged firm in the future.

"The decision to sell this business will mean that we can focus on areas where both firms have expertise, and strengthen our commitment to our chosen markets and key areas of growth going forward."

John White, CEO of Baker Tilly Financial Management Limited, said the deal was a "positive move" for its long term future, following the ownership changes of recent years.

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit

conservatoire-for-dance-and-drama

Finance-Director-part-time

Conservatoire for Dance and Drama, London, Permanent, Part Time, £60,000 pro rata

 

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.