Ingenious is a London-based discretionary investment manager for high net worth and ultra-high net worth clients and offers investment services to financial advisers. It has £1.8bn ($2.6bn, €2.4) of client assets and 41 staff.
The deal is due to go through in April subject to regulatory approval, and will bring Tilney’s total assets up to around £11.2bn. Of this over 80% will be managed or advised.
Ingenious Asset Management’s chief executive Guy Bowles, will become head of investment management for Tilney Bestinvest in London and David Rosier, chairman of Thurleigh Investment Managers will become a senior adviser to Tilney Bestinvest Group. Thurleigh was acquired by Ingenious in April 2014.
Peter Hall, chief executive of Tilney Bestinvest said: “The acquisition of Ingenious Asset Management will significantly increase our investment management capability in London and our business supporting financial intermediaries. The team at Ingenious Asset Management are very high quality professionals and their investment approach is complementary to our own so we believe this represents an excellent combination.”
“When we launched Ingenious Asset Management in 2003, we were determined to create a business that combined modern investment techniques with a traditional emphasis on delivering a highly personal service,” added Bowles.
“In Tilney Bestinvest we have found a firm which very much shares that approach and has a similar investment process to our own, with a strong emphasis on proprietary investment research. Tilney Bestinvest is also investing heavily in systems and has an excellent infrastructure to support and grow a modern investment management business.”