UK wealth management group Tilney has said it is eyeing up further potential acquisitions on the back of a record year that saw the firm's average assets under management increase by 60% year-on-year to reach £24bn at the end of 2017, with 75% of assets in discretionary mandates or funds.
In Tilney's full-year results, the firm said it is looking to "augment growth with new hires and potential acquisition opportunities", but added the 62% increase in gross new business demonstrates the firm's "ability to grow organically as well as by acquisitions". The update said the mergers of Ingenious Asset Management and Towry were now "fully integrated", following the announcements of the acquisitions in February 2016 and April 2016 respectively. Chris Woodhouse, chief executive officer of Tilney, said: "With our past acquisitions of Towry and Ingenious Asset Management now full...
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