View more on these topics

Towry looks to revive IPO bid

Towry is looking revive its flotation bid in the next 18 months if markets become less volatile.

Towry chief executive Andrew Fisher told the Financial Times that Palamon, the US private equity group that has held a controlling stake in the company for nine years, is keen to exit the investment when it becomes possible.

In 2010, Towry said it wished to float the following year but it was forced to postpone due to market volatility.

Speaking to the FT, Fisher says: “We will be doing a float at some stage.” Fisher said the benefits of floating would be increased publicity and the ability to use the firm’s shares to complete acquisitions.

Towry hit the headlines last month after it lost its High Court case against Raymond James and seven former Edward Jones advisers. Towry alleged the advisers had breached non-solicitation clauses in their contracts after 388 clients with assets totalling £33m transferred to Raymond James.



A tax on aspiration

Gregor Watt reports that Budget measures have brought dismay across the housing industry

Stamp of disapproval

Government measures to combat stamp duty avoidance when expensive properties are bought through a company could hit the buy-to-let and institutional investment sectors. Last week, Chancellor George Osborne announced a 15 per cent stamp duty on homes worth more than £2m that are purchased through a company. The aim is to close the loophole that […]


CML fights for non-advised sales in MMR response

The Council of Mortgage Lenders has submitted its response to the mortgage market review, in which it calls for lenders’ call centre staff to be exempt from offering advice. The trade body says the requirement for lenders to offer advice where there is spoken or interactive dialogue is likely to have a disproportionate impact on […]

Deloitte: Trust diversity could be hit by AIFM

Deloitte has warned that proposals in the European Commission’s alternative investment fund managers directive to bring investment trusts under the FSA’s approved persons’ regime could harm diversity on trusts’ boards. The directive aims to bring alternative investment fund managers operating within the EU under one regulatory framework. EU member states must implement the directive into […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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