National advice firm Towry has abandoned plans to float on the stock market in favour of a sale in the new year.
In June, private equity backer Palamon Capital Partners met with advisers to discuss a listing but has since hired investment bank Evercore to find new investors.
The firm is thought to be worth around £600m.
Palamon has expanded the firm through acquisition, mostly recently in the takeover of wealth manager Ashcourt Rowan for £120m in March 2015.
The firm employs around 900 people, of which around 180 are advisers, and has 25,000 clients. All staff members are given shares in the firm “shortly after joining”.