UK wealth firm Tilney Smith & Williamson (TSW) has bought Surrey-based financial and investment advisory firm HFS Milbourne for an undisclosed sum.
The company was created in 2005 from the merger of Milbourne Financial Services and Hayden Financial Services, and is led by joint managing directors Rod Milne and Colin Hayden-Cook.
HFS Milbourne has 30 members of staff and around £450m ($626m, €519m) in assets under influence.
The acquisition strengthens TSW’s presence in Surrey, where it currently has over 100 professionals.
Following the completion of the deal, the entire HFS Milbourne team will join TSW’s in financial planning businesses in Guilford to provide clients continuity with their adviser relationships.
Long-term business plan
Chris Woodhouse, group chief executive of Tilney Smith & Williamson, said: “Colin and Rod have built a high-quality, client-focused business over many years that they can rightly be very proud of.
“HFS Milbourne are joining the group at a time when the importance of getting sound, expert advice has arguably never been greater given the impact of the pandemic.
“Our ability to support clients with both their personal wealth management needs and business interests through our range of professional services is unrivalled in the market and so we are uniquely well-positioned to help clients navigate the challenges of the current environment and beyond.”
Rod Milne, joint managing director of HFS Milbourne, added: “Colin and I have given much thought over the last couple of years to the long-term future of the business. We are proud of what we have built at HFS Milbourne, so the bar was high in choosing a long-term home for both our team and clients. Tilney Smith & Williamson stood out above other potential acquirers with its breadth of services and successful track record of combining advice businesses.”
Colin Hayden-Cook, joint managing director of HFS Milbourne, said: “As part of the larger group, our clients will benefit from the un-doubted advantages that much greater scale brings in terms of systems, resources and expertise, while also allowing us to remain focused on the thing that is most important to us: supporting our clients with highly-personalised financial advice.”
