Stephenson Harwood has advised Baker Tilly, the UK’s seventh-biggest auditing and accounting advisory firm, on the sale of its private client financial management business to Towry, a wealth advice firm.
The private client financial management business was acquired by Baker Tilly when the firm bought the assets of RSM Tenon Group in September 2013, an acquisition on which Stephenson Harwood also advised.
The private client financial management business was previously branded as RSM Tenon Financial Management and RSM Tenon Investment Solutions, and was renamed as Baker Tilly Financial Management and Baker Tilly Investment Solutions.
Baker Tilly’s private client financial management business provides independent financial advice to individuals on wealth management. The business has been sold to Towry, which specialises in providing wealth advice and investment management services to private individuals.
The Stephenson Harwood team was led by Andrew Edge and drew expertise from the corporate and commercial, employment and intellectual property teams.
Edge was supported by partners Dan Holland, Paul Reeves, Alex Haynes, Alexandra Pygall and Andrew McLean and assisted by associates Tom Finden, Katie Knowles, Serena Stewart and Hayley Reid. CMS Cameron McKenna advised Towry.