British wealth manager Tilney Bestinvest has concluded the acquisition of Ingenious Asset Management (IAM), a London-based discretionary investment manager.

The acquisition will add more than £11bn in assets under management and administration to Tilney’s portfolio.

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IAM has been rebranded as Tilney Asset Management and now operates under the Tilney brand alongside the Investment Management and Financial Planning teams.

Also, Ingenious CEO Guy Bowles has been appointed as head of investment management (London) at Tilney.

Tilney Bestinvest CEO Peter Hall said: "The team at IAM are very high quality professionals and their investment approach is complementary to our own so we believe this represents an excellent combination. Importantly it significantly bolsters our Investment Management team in London and further deepens our presence in the high net worth and ultra-high net worth client segments."

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