View more on these topics

Towry Law sells GI and healthcare arms

Towry Law JS&P Group has sold its general insurance and healthcare arm, Towry Law Insurance Brokers to Broker Network Holdings and a consortium of TLIB directors for £12.5m.

Towry Law JS&P Group says the GI arm is not core to its business model and says it will now focus on offering independent financial and wealth management advice to private and corporate clients.

The sale is subject to FSA approval.

Chairman and chief executive Andrew Fisher says: “The general insurance and healthcare business of Towry Law no longer has a natural fit with our core business of wealth management.

“We are moving towards being totally fee based which is, in my view, fundamental to giving independent, appropriate and intelligent wealth management advice to our clients. Fee based advice is however less relevant currently to the general insurance market.

“I am really pleased that we have been able to help find our successful insurance business an acquirer that has such a strong strategic fit for their business.”

Recommended

Jelf acquires Cherwell Insurance Management

Jelf Group has acquired Oxfordshire-based insurance broker Cherwell Insurance Management for an undisclosed sum.The Bristol-based corporate consultancy says it will retain the Hanborough office and all staff, giving Jelf a total of 20 offices nationwide.Jelf group chief executive Alex Alway says: “The Jelf Group has a clearly stated growth policy and the acquisition of businesses […]

Flat-rate S2P and axe for contracting out

The Government has ignored pleas not to move to a flat-rate second state pension and to keep the option of contracting out. The S2P changes mean many thousands of people could be hit by what is being widely seen as a stealth tax on middle-income-earners. The Tories say Labour is bringing in another tax on […]

Campaign gets Balls’ backing

Political support for Money Marketing’s No Advice, No Protection campaign is gathering momentum after the Economic Secretary to the Treasury voiced his concerns on insurance sales to MPs. New secretary Ed Balls has written to the Labour MP for Battersea, Balham and Wandsworth Martin Linton expressing the need for distinctions to be made between advised […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com