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Towry in talks to buy Bluefin
by Daniel Grote on Sep 02, 2013 at 07:23
National advice group Towry is in advanced talks over the acquisition of Bluefin, according to The Sunday Times.
A Towry takeover of wealth management firm Bluefin Personal Consulting could be announced within days, the paper cited sources close to the situation as saying.
Bluefin owner AXA had put the business up for sale, alongside employee benefits arm Bluefin Corporate Consulting, in 2011.
However, the wealth management division was not included in the £50 million sale of the corporate advice division to Capita last year.
A deal would mark the largest acquisition by Towry, headed by chief executive Andrew Fisher (pictured), since its takeover of Edward Jones in 2009.
A Towry spokesman said: 'Towry does not comment on any speculation regarding our acquisition strategy. Towry has been actively looking at a number of opportunities to acquire advice firms and recruit individual financial advisers, and will announce all deals as and when they are completed.'
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