International law firm Stephenson Harwood LLP 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 plc in September 2013, an acquisition which Stephenson Harwood also advised on. 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, a leading wealth advice firm with 18 offices across the UK, and which specialises in providing wealth advice and investment management services to private individuals.
Andrew Edge, head of corporate, commented "We are delighted to have advised Baker Tilly on this business sale, which follows on from our work for them last year, when we advised on the acquisition of RSM Tenon."
The Stephenson Harwood team was led by Andrew Edge and drew expertise from the corporate and commercial, employment and intellectual property teams. Andrew 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.