Tilney Bestinvest, a UK-based investment and wealth management firm, is reportedly planning to boost its staff in Scotland and also launch new offices.
The company’s Glasgow managing director and main board member Paul Frame told heraldscotland.com that the group is planning to expand its business keen through new acquisitions.
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"We have plans to open additional offices in Scotland, and we are making inquiries about the possibilities of Aberdeen and Inverness. That is the key to expansion, we need to be more local to our customer base," Frame said.
The firm’s Glasgow office currently runs two UK-wide divisions, the portfolio lending service and the charities unit led by Frame.
Tilney Bestinvest, which currently manages over £1.6bn for around 5000 clients in Scotland, has also teamed up with Eiris, the ethical investment research group.
Frame said: "Charities are now coming out with ethical statements. If you don’t have the tools to be able to manage money on that basis that is going to be embarrassing further down the line.
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By GlobalDataAdditionally, Tilney’s charities business is also partnering with ARC to offer risk and volatility monitoring of charities’ portfolios.
"One of the main reasons for looking after certain charities for a private wealth business is getting exposure to those trustees and the networks they are involved in," Frame added.
In August this year, Tilney, comprised of Tilney Investment Management and DB PWM Collective Management, merged with Bestinvest resulting in a UK private client investment group responsible for £9bn of assets.
The merged business now has approximately 400 employees located in sixteen offices with £9.2bn under management, offering investment management, financial planning, and advisory services for private clients and charities.
