Income, profitability and assets all climb at Towry

Wealth advisers Towry sees record income, profitability and discretionary assets under management.


Discretionary assets under management climbed 29% to £4.5bn from £3.5bn the previous year. 

EBITDA margin improved 34% and revenue increased 9% in H1 2010.

The wealth manager confirmed it saw new AUM inflow of £0.45bn during the first six months of the year.

During the period it also strengthened its board with appointment of two independent non-executive directors: Gerald Corbett and Sally James.

“The first half of 2011 has been a further period of growth for Towry and we look forward to the second half as we retain our ambition and conviction of becoming the leading firm of wealth advisers in the UK,” said Towry chief executive Andrew Fisher, adding: “Our independent wealth advice and independent investment management services continue to attract new clients, evidenced by the continued increase in total assets under management.”

“We are confident of producing further new AUM inflow and a strong performance for the financial year as a whole, against a background of increasing market volatility and demands of regulation,” said Fisher.

He said his firm supported the FSA’s Retail Distribution Review and claimed its fee-based advice and “high level” of professionally qualified advisers meant the business was well positioned for RDR compliance ahead of 2013.


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