UK-based wealth manager Rathbones has selected Phil Towner to take on the role of chief executive at its Vision Independent Financial Planning (Vision IFP) subsidiary.  

Towner will replace  Zoe King, who is retiring.  

Currently head of wealth within Vision IFP, Towner will be responsible for implementing a new strategy aimed at expanding the subsidiary’s operations.  

This appointment follows a three-month evaluation into the future direction of the Vision business and awaits regulatory clearance. 

Towner will report to Rathbones Group chief executive Jonathan Sorrell. 

Sorrell said: “I am excited that Phil Towner will be working with me to drive the next phase of growth at Vision as we look to develop all our businesses across the Group. 

“There are many opportunities ahead for Vision and we will continue to strengthen our ability to capitalise on them with further investment in the network.” 

The decision is part of Rathbones’ broader strategy to strengthen Vision IFP’s position within the group as it looks ahead to 2026 and subsequent years. 

Vision IFP oversees a network comprising 140 self-employed financial advisers, managing client assets valued at £6.9bn ($9.2bn). 

Tony Overy continues as interim chair while Rathbones launches a search for a permanent appointment to that position. 

Vision IFP interim chairman Tony Overy commented: “I am delighted that Rathbones has re-affirmed its commitment to develop Vision.  

“The strategic review validated the strength and quality of Vision and its network, and I would like to thank all involved.  I would like to recognise Zoe’s fantastic contribution to Vision and wish her well for the future.” 

Last year, Rathbones Group appointed Jonathan Sorrell succeeding Paul Stockton, who retired after six years as CEO.