Towry Law, the Wealth Advisers, today announces the acquisition of Edward Jones Limited, one of the UK's leading independent financial advice and investment firms.
 

The acquisition, which is subject to FSA approval, is a further transformational step in Towry Law's strategy to become the major independent 'fee based' wealth advisory firm in the UK.
 

Edward Jones Limited, the UK subsidiary of the US based firm, Edward D Jones & Co L.P., has a nationwide presence with around 1000 associates including 400 financial advisers. The business serves 50,000 clients and has £1.5 billion of client assets currently under advice. Following completion of the acquisition, the business will be integrated into Towry Law and operate on a fee only basis, in line with the existing Towry Law strategy.
 

Towry Law manages over £2.8 billion of assets on behalf of over 13,000 clients.

Andrew Fisher, Chief Executive, Towry Law, said:

"We are delighted that we have agreed this deal to purchase Edward Jones UK, in what is a significant development for Towry Law. Edward Jones is a high quality business with talented associates and a very strong client base. They share the same dedication to providing high quality services to their clients as Towry Law.
 

 "The acquisition provides the opportunity for the combined business to become the major force in independent wealth advice in the UK and be well placed to continue to lead the industry in the adoption of the new rules following the retail distribution review, with fully qualified advisers offering fee based independent advice."

 

Andrew Fisher, Chief Executive                                  Tel: 01344 828 126

David Middleton, Head of Strategic Marketing              Tel: 01344 828 183

Barnaby Fry

Simon Hockridge                                           towrylaw@hogarthpr.co.uk

 

Towry Law is a fast growing Wealth Advice business, with Chartered Financial Planning status, employing around 500 people in 10 offices across the United Kingdom and manages about £3 billion of client assets.
 

Towry Law offers fee-based, independent financial advice and independent investment management services to private individuals, with investable assets in excess of £100,000, and small and medium sized enterprises (SMEs).

The Company's vision is to become the UK's leading provider of Wealth Advice. They aim to achieve this by having professionally qualified employees delivering high quality advice and investment management services to clients supported by a strong and robust operational infrastructure.
 

The Company, founded in 1958, was acquired by John Scott & Partners in May 2006. The merged business was re-launched in July 2007 as Towry Law. During 2007, the Company acquired Baker Tilly Financial Services Limited, the financial advisory division of the mid-tier accountancy firm Baker Tilly, and the UK activities of MLP Private Finance and the regional firms, McGowan in St Andrews, Scotland, Analysis in L'Derry, Northern Ireland and Hazlems Financial, based in London.
 

Towry Law is privately owned; the principal shareholders are Palamon Capital Partners, one of Europe's leading private equity firms, and Towry Law employees.
 

Towry Law has been accredited as one of the Sunday Times Virgin 'Fast Track 100' companies. Towry Law has also been appointed by Camelot to provide holistic financial planning advice to National Lottery winners.

 

 

Edward Jones provides financial services for individual investors in the United States and, through its affiliates, in Canada and the United Kingdom. Every aspect of the firm's business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work. The firm's 10,000-plus financial advisors work directly with more than 7 million clients to understand their personal goals -- from college savings to retirement -- and create long-term investment solutions that emphasize a well-balanced portfolio and a buy-and-hold strategy. Edward Jones embraces the importance of building long-term, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today.

 

Edward Jones, which ranked No. 2 on FORTUNE magazine's "100 Best Companies to Work For 2009," is headquartered in St. Louis. The Edward Jones interactive Web site is located at www.edwardjones.com.
 

 

St Louis – John Boul, Edward Jones

Telephone: 314-515-3265

Mobile: 314-276-4419

E-mail:  john.boul@edwardjones.com

 

London – David Waller, Maitland Communications

Telephone: 44 207 379 5151

Mobile:  44 779 390 3509

E-mail:  dwaller@maitland.co.uk