Tilney Bestinvest, the award winning investment management and financial planning group, announces that it is to acquire Ingenious Asset Management. Ingenious Asset Management is a London based discretionary investment manager which services high net worth and ultra-high net worth clients and offers investment services to financial advisers. Ingenious Asset Management is responsible for over £1.8 billion of client assets and has 41 staff based in London. The transaction is anticipated to complete in April, subject to regulatory approval.
The combination represents another major milestone for Tilney Bestinvest, which was created from the successful merger of Bestinvest and Tilney Investment Management in 2014. Upon completion of the acquisition of Ingenious Asset Management, the enlarged group will be responsible for £11.2 billion of assets, of which over 80 percent will be managed or advised. Since the acquisition of Bestinvest by the Permira Funds in 2014, the business will have more the doubled its assets under management from £5 billion to £11.2 billion and is amongst the fastest growing wealth managers in the UK. The combined business will have over 500 staff across the UK operating from 15 offices including five investment management locations. The combination will see Tilney Bestinvest’s investment management team in London double in size and additionally it will boost the size of the group’s financial intermediary business development team, supporting its strategy of growing its relationships with financial advisers.
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