Towry taking over AXA financial planning unit
A wealth advisory firm with an office in Belfast is to acquire a financial planning business from insurance giant AXA UK.
Under the terms of the business transfer agreement between the buyer and seller, Bluefin's business assets, financial planners and support staff will all be moved across to Towry, which has premises in Waring Street offering personal financial advice and investment management services to trustees, families and individuals.
Towry already employs approximately 650 people in a total of 18 offices across the United Kingdom.
Services include reviewing investments, inheritance tax planning, investment management, retirement planning advice and advice at point of retirement.
Browse our personal financial advice services or contact us for more information.
The deal does not include broker Bluefin Insurance Group, which will remain with AXA.
The contract is expected to be completed in the final quarter of 2013.
Ed Bradshaw, AXA UK group strategy director, said: "As previously stated, AXA UK was intending to withdraw from the provision of financial advisory services in the UK and as such we are delighted to have reached this agreement with Towry which is well placed to offer high-quality planning and personal financial advice to BPC clients in future."