Bestinvest

Last updated

Bestinvest
Company type Private
IndustryFinancial services
Founded1986;38 years ago (1986)
Headquarters45 Gresham Street,
London
,
UK
Area served
United Kingdom
Key people
 Paul Geddes (businessman) (CEO),
Mayank Prakash (COO)
Products ISA, SIPP, Income drawdown, Investment
AUM £3 billion
Parent Evelyn Partners
Website bestinvest.co.uk

Bestinvest is an investment and a financial coaching company based in London. It provides execution-only investment services predominantly to private investors, as well as financial planning, investment management and investment advisory services as part of the Evelyn Partners Group. [1] [2]

Contents

History

The company was founded in 1986 by John Spiers. [3]

The company promoted the use of online fund supermarkets and established a Discretionary Investment Management arm. In July 2007 it was bought by management and 3i. [4] The company acquired HW Financial Services, the financial services arm of Haines Watts the accountancy group, in January 2010. [5]

In November 2013, Bestinvest received the backing of private equity firm Permira. [6]

In February 2014, Permira agreed to buy the investment manager Tilney from Deutsche Bank with the ambition of creating a wealth manager with 9 billion of assets. After completion of the deal in May 2014 Bestinvest and Tilney combined to create Tilney Bestinvest. [7] Bestinvest remained as a separate brand focusing on execution-only investing whilst Tilney was introduced as a brand focusing on Investment Management and Financial Planning. [8]

In June 2022, following Tilney's merger with Smith & Williamson, [9] the group rebranded to Evelyn Partners. Bestinvest was retained as a separate brand. [10]

Operations

The company provides execution-only investment services to self-directed investors. It also offers investment advice, discretionary investment management and financial planning services to individuals and companies, charities and other financial institutions through the wider Evelyn Partners group. Available products include Individual Savings Accounts (ISA), unit trusts, Self-invested personal pensions (SIPP) and Venture Capital Trusts (VCT). [11]

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References

  1. ↑ "Bestinvest relaunches offering free investment coaching". yourmoney. 25 May 2022. Retrieved 25 May 2022.
  2. ↑ "Our service". Bestinvest. Retrieved 27 August 2020.
  3. ↑ John Spiers returns to Bestinvest – The Times
  4. ↑ tml 3i back Bestinvest – 3i Press Release Archived 26 August 2009 at the Wayback Machine
  5. ↑ "HW Financial Services links with Bestinvest". Archived from the original on 7 February 2011. Retrieved 5 March 2010.
  6. ↑ "Permira acquire Bestinvest from 3i". Archived from the original on 7 January 2017. Retrieved 13 January 2017.
  7. ↑ "Tilney to merge with Bestinvest following private equity buyout". citywire.co.uk. Retrieved 20 June 2021.
  8. ↑ "Tilney announces 'transformative' merger with £45bn of AuM". www.internationalinvestment.net. 19 September 2019.
  9. ↑ Jakubowski, Zak; Reporter; Sep 2020, Accountancy Daily2. "Tilney and Smith & Williamson complete merger". www.accountancydaily.co. Retrieved 13 December 2022.{{cite web}}: CS1 maint: numeric names: authors list (link)
  10. ↑ Reichman, Carmen (14 June 2022). "Tilney Smith & Williamson becomes Evelyn Partners". FT Adviser.
  11. ↑ O'Neill, Moira (20 January 2011). "Hit the January VCT sales". Investors Chronicle. Retrieved 25 August 2011.
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