Turton’s departure comes after Bestinvest’s acquisition of specialist pension IFA SMA Group last December. Turton has not been directly replaced and his role will be covered by colleagues from both the Best and SMA sides of the business but there are no immediate plans to appoint a new director of life and pensions.
Bestinvest spokesman Justin Modray says Turton decided to move on and the timing reflects his desire to make a clean break ahead of the upheaval of the merger. He says: “Both SMA and ourselves have a lot of pension specialists so we do not feel the need to replace him immediately but in time someone may well be promoted to the director role.”
Chairman and managing director John Spiers says the combined group is more likely to add staff than shed them in the coming year.