Clients with assets of £340m to transfer to Tilney, along with 11 staff
Tilney, the UK-wide investment and financial planning group, is pleased to announce that it has concluded an agreement to acquire the wealth management business of Moore Stephens LLP, a leading UK accountancy and advisory firm, by way of a business transfer agreement.
The Moore Stephens Wealth Management team provides bespoke financial planning and investment advice to personal, corporate and trust clients with combined assets under advice of £340 million in its core investment proposition.
The transaction will see eleven Moore Stephens staff based in London transfer across to Tilney, five of whom are advisers. The team includes two Partners of Moore Stephens: Stephen Humphreys, Head of the Palace Wealth Management division, who has been with the firm since 1989, and James Springham, who has been with the business since 1999. The team will continue to work closely with Moore Stephens following the transfer to Tilney, supporting clients of the firm who require financial planning and investment management services.
Stephen Humphreys, Partner, Moore Stephens wealth management, said: “We are very excited to be joining Tilney and have been impressed with the firm’s depth of expertise in both financial planning and investment management. Tilney also has a lot of experience advising the clients of both accountancy firms and lawyers, so the understanding and cultural fit between our team and their businesses really is excellent. The transfer will enable us to provide continuity of service to our clients but as part of a major standalone wealth management group.”
Chris Woodhouse, CEO of Tilney, commented: “We are delighted to welcome the Moore Stephens wealth management team and clients to Tilney. This is a very high quality and professional business that will add further strength to our team in London. Tilney has established excellent connections with a number of major accountancy and professional services firms and we now look forward to developing an ongoing relationship with Moore Stephens over the coming years.”
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About the Tilney Group
Tilney is a leading investment and financial planning group that builds on a heritage of more than 180 years. Our clients are private investors, charities and professional intermediaries who trust us with over £24 billion of their assets. We offer a range of services including financial planning, investment management and advice and, through our Bestinvest service, a leading online platform for those who prefer to manage their own investments. We have won numerous awards including Wealth Manager of the Year, Best Discretionary/Advisory Wealth Manager, Best Low- cost SIPP Provider and Best Investment Platform 2018 as voted by readers of the Financial Times and Investors Chronicle; Best Advisory Service in the 2015 City of London Wealth Management Awards; and Investment Award – Cautious category in the Private Asset Management Awards.
Headquartered in Mayfair, London, the Tilney Group employs over 1,000 staff across our network of 30 offices, enabling us to support clients with a local service throughout the UK.
For further information, please visit: www.tilney.co.uk