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Towry on the acquisition trail

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Towry chief executive Andrew Fisher

Towry has unveiled ambitious expantion plans through the recruitment of individual financial advisers and the acquisitions of smaller advice firms.

The company says strong results for last year, which showed an increase in operating profit to £11.8m from £10.2m in 2011, and the raising of £35m in new equity in 2012 put it in a strong position to finance further growth.

The wealth manager has already concluded a deal with Norscot Financial Services and George Square Fund Managers, whose teams will be joining Towry’s Glasgow offices this month.

Towry chief executive Andrew Fisher says: “Our business has grown significantly over the last few years and we will achieve further growth in 2013 through acquisition and the recruitment of individual advisers. We have the funds available to us and we are well placed to take advantage of the post-RDR market opportunities.”

Fisher adds that continued training and development for employees remains at the heart of their employee proposition.

He says: “Over 60 per cent of our wealth advisers and nearly 40 per cent of our wealth planners gained chartered financial planner status by the end of 2012. The achievement of chartered status remains a goal for all of our advisers.”

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