View more on these topics

Smith & Williamson quashes talk of acquisition

Smith & Williamson has denied it is still an acquisition target, saying its current focus is on organic growth.

In September last year, merger talks between Rathbones and Smith & Williamson broke down.

The firm then said in December that any plans it had to list on the London Stock Exchange would not come to fruition before the second half of 2019.

The company, which runs £19bn, tells Money Marketing it wants to grow organically rather than through acquisitions. It also confirms it has not been approached by any external business for a potential deal.

Smith & Williamson retail sales head Mickey Morrissey says the investment firm is fully dependent on advisers’ flows and currently has “no further plans” to launch any new services or acquire firms itself.

He adds: “We have increasing IFA support; we didn’t have any track rec­ord [before now]. It’s a growth plan we [have] under control.”

Recommended

Fisher-Andrew-2012-700x450.jpg
1

Smith & Williamson confirms ex-Towry chief’s appointment

Smith & Williamson has confirmed former Towry Group chief executive Andrew Fisher has been appointed a non-executive director. Fisher, who was also chief executive of Coutts, succeeds Bob Bogart, who resigned last year. His appointment is effective immediately. Smith & Williamson refused to comment on his appointment when contacted by Money Marketing at the start […]

Money-Cash-Coins-GBP-Pounds-UK-700x450.jpg

Tilney contests Rathbones takeover bid for Smith & Williamson

Wealth management giant Tilney Group has made a bid to buy Smith and Williamson in the face of a rival offer from Rathbones, according to reports. Last week, Rathbones confirmed they were in talks over a £2bn all-share merger with Smith and Williamson. The acquisition was expected to be announced next week. But according to […]

taxes

Out from the long grass? An IT and NI merger

Those with a long memory will recall that at the start of the last parliamentary term George Osborne announced his intention to merge income tax (IT) and national insurance (NI).  Headline grabbing as the initiative was, the reality of the complexities, challenges and costs of such a move resulted in this idea being kicked into the political long grass.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment