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Tilney Bestinvest targets 25 financial planners for big regional push
by Eleanor Lawrie on Jun 23, 2014 at 14:16
The Tilney Bestinvest tie up is on a 'major recruitment drive' and hopes take on 25 financial planners in the next six months to help create a presence in areas such as Aberdeen, Cambridge and Maidstone.
The revelation comes after Bestinvest chief executive Peter Hall (pictured) told Wealth Manager earlier this month he was looking to double the financial planning team.
The firm said will grow its financial planning teams in existing Tilney and Bestinvest offices across the UK including London, Liverpool, Glasgow, Edinburgh and Manchester, before targeting the new locations.
The recruitment drive follows the hire of six wealth managers for Bestinvest’s regional offices in the first half of 2014
Tilney Bestinvest will also look to hire five paraplanners to support advisers across the country including Newcastle and Leeds, and recruit for seven administrative wealth management support roles.
'The upcoming merger with Tilney will bring increased financial planning scale and the new hires will allow us to fully support this growth,' Richard Dawes, joint managing director of wealth management at Bestinvest said in a statement.
'Where we do not currently have a presence we will forge one and where we do have a presence we are building upon it, allowing more clients than ever access quality face to face advice in their area.
The business will have 400 employees, with an asset split of 63% discretionary, 17% advisory and 20% execution only.
The wealth management business will have £9.2 billion assets under management following the sale of Tilney to Bestinvest parent group Permira, a deal which is currently subject to regulatory approval.
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