Other Citywire websites
Stay connected:

View the article online at http://citywire.co.uk/new-model-adviser/article/a651300

Towry takes on ex-RBS adviser for Nottingham office

by Jun Merrett on Jan 16, 2013 at 12:29

Towry takes on ex-RBS adviser for Nottingham office

National advice firm Towry has appointed ex-Royal Bank of Scotland (RBS) adviser Victoria Wallace as a wealth adviser for its Nottingham office.

Wallace spent 18 years at RBS, including four as a financial planning manager and nine as a private investment manager.

Wallace, who is level four qualified, said she was excited to be ‘working for such a highly regarded professional firm’.

‘The commitment of Towry and its people to provide impartial advice for its clients is exceptional,’ she said.

In December 2012 Towry announced it had received a £35 million investment from shareholders to embark on growth plans, including hiring individual advisers and acquiring advisory firms.

20 comments so far. Why not have your say?

Paul Howard via mobile

Jan 16, 2013 at 13:22

And this is felt worthy news because ?????

1 Towry advertise with us a lot and we like mentioning them

2 it a quiet news day

Or

3 we couldn't be bothered in reporting proper news?

report this

Ex TL'er - To Adam Grant

Jan 16, 2013 at 13:24

"a highly regarded professional firm" -

hahahahahahahahahahahaha

report this

David Curley Dip extrodinaire

Jan 16, 2013 at 13:27

I am so please that she has been blinded by semantics, I will give her 12 months and then she may realize that pushing clients all across to TL s own funds is not only not impartial but is designed to create a big chunk of AUM to sell when Mr Fisher decides he is ready to retire, great when you can get it, but not for the clients.

report this

jaydebe

Jan 16, 2013 at 13:34

I agree, I'm not sure why this makes the news. Makes me think twice about opening other links now!

report this

Man in Black

Jan 16, 2013 at 13:41

I'm impressed to read that she's "level four qualified", unlike...Oh, hang on.

report this

Ex TL'er - To Adam Grant

Jan 16, 2013 at 13:45

hahaha

report this

Dogman

Jan 16, 2013 at 13:45

And this is news because.......?

report this

Julian Sunley

Jan 16, 2013 at 13:48

Of course completely unrelated to this story but it is a shame there is no 'rate this comment' (i.e. agree or disgaree) facility on Citywire like there is on the BBC News site. It would reduce the amount of comments to read for some stories as well as garner opinions as to how others feel (i.e. 35 people like this comment/5 people don't etc). Food for thought maybe.....

report this

Simon Frost

Jan 16, 2013 at 13:55

The BBC doesn't have to keep advertisers happy Julian.

report this

Step hen (fee based IFA)

Jan 16, 2013 at 15:28

Has anyone ever seen Towry adviertise on Citywire..... or anywhere else for that matter?

report this

Keith Cobby

Jan 16, 2013 at 16:17

Why advertise when they get all this free publicity. They must be name-checked every day on Citywire.

report this

Zoomer

Jan 16, 2013 at 16:37

What a miserble bunch you all are.

Good luck to her I say! :)

report this

Ex TL'er - To Adam Grant

Jan 16, 2013 at 16:48

Zoomer

She will need all the luck she can get, and believe me, after a couple of weeks she will be miserable too.

report this

Zoomer

Jan 16, 2013 at 16:54

Aye but maybe you should let her find that out for herself!

report this

Monday Morning

Jan 16, 2013 at 19:16

To: Step hen (fee based IFA).

I have seen Towry Law advertise, sadly, only when it is paid for by someone else!

report this

Simon Frost

Jan 16, 2013 at 20:21

The point I was making is that Citywire is a "free" subscription entity. They therefore need to quantify the amount of readers to give there advertisers people to sell to. The BBC is not reliant on revenue from advertisers and can therefore afford to ask readers to rate posts, Citywire cannot as it may affect advertising revenues. My previous comment was not particularly relating to the article, but more a previous post.

report this

ivan lyons

Jan 16, 2013 at 21:16

And the latest sucker joins Towry Law, to only be dismissed in 12 months time after all her clients have been transferred onto their overcharged tied portfolio.

report this

Adam Grant

Jan 16, 2013 at 22:35

@ Ivan Lyons - what clients will she have - she was a bank adviser and if she has taken their details with her, she will be in breach of Data Protection Laws. I don't know many bank advisers that give their customers their private mobile number,...

However, "impartial advice" it aint, nor independent, nor cheap, nor well performing and not that low on volatility either,...

Anyway, good luck Victoria!

report this

James Clancy via mobile

Jan 16, 2013 at 22:46

Nottingham Andrew you may find the quality of wealth managers well established in that area

report this

Smithling

Jan 17, 2013 at 14:22

Adam Grant.

I think you may be being a little naive.

Firstly, there is no breach of data protection laws. Giving your clients your personal mobile is perfectly acceptable to "go the extra mile" in service. I know many that give their personal number.

If anything she's more likely to be in breach of the restrictive covenant in her contract not to contact clients within 6 months of leaving RBS.

However, let's not forget that RBS has little to no systems in place to actually ascertain suddenly losing a load of bancassurance business since their model is entirely based on a single sale with no ongoing relationship.

As far as I was aware the standard model for being an IFA was to go to a bank, get qualified, run off with a client bank and do the job properly. Or has that changed?

Citywire, I took on a new paraplanner last week. Would you like a photo so you can get the scoop on this headliner?

report this

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Opportunities emerge as production moves back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

A spotlight on Alastair Mundy


Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.


Sorry, this link is not
quite ready yet