Fisher’s comments come despite the large numbers of Edward Jones advisers who have flooded the MM website in recent days complaining about the deal. Last week Towry Law announced it had bought the UK subsidiary of Edward Jones, which has 400 financial advisers and 50,000 clients with £1.5bn of client assets.
Fisher says he has met with 270 advisers and the majority have responded positively to the takeover.
The advisers all have an existing contract with Edward Jones that prohibits them from soliciting any clients for 12 months if they leave the firm.
Fisher says if Edward Jones advisers decide not to join Towry Law they will not be permitted to take their clients with them.
He says: “That is what is stipulated in the Edward Jones contract and it is what they entered into when they joined the firm. It is a standard contract. It has nothing to do with Towry Law.”