Wealth manager and Financial Planner Tilney Smith & Williamson has appointed former Aviva financial adviser Neil Thornton as a Financial Planner.

Mr Thornton joins its Exeter office as part of the firm’s expansion in the West Country.

The wealth manager also recently added locally-based investment management capability in Exeter for the first time and says it is seeing “growing demand” for Financial Planning services in the region.

Mark Wilkins, managing partner of Tilney Smith & Williamson’s Exeter office, said: “We see a considerable opportunity to continue to expand our team in Exeter given the growing demand we are seeing for our Financial Planning and investment management services in the region.”

He added that the firm is on the look out for more Financial Planners to join the firm in the city. 

Mr Thornton has over 25 years of financial services' experience. Prior to his three years as a financial adviser at Aviva, he worked in the region for HSBC Retail Banking & Wealth Management and Banco Santander.

He specialises in investment, retirement planning and estate planning advice for private clients.

He said: “I am delighted to be joining Tilney Smith & Williamson’s Exeter office as a Financial Planner.  The company has an excellent reputation and an outstanding track record in providing its clients with quality, bespoke financial advice and supported by a high calibre investment management team. I am very excited to be starting the next chapter of my career with such a professional team.”

Tilney has more than doubled its assets under management recorded before the acquisition of Smith & Williamson to £54.8bn, according to its first half financial results.

EBITDA rose 132% to £91.7m for the first half of 2021 with gross new business inflows of £3.2bn (H1 2020: £1.4bn) representing 12.5% of opening assets (on an annualised basis).

Group operating income increased 157.5% to £261.9m (H1 2020: £101.7m) with Smith & Williamson contributing £139.1m of operating income during H1 2021 following on from the merger in 2020. On a pro forma basis, operating income increased by 5.9% (H1 2020 pro forma: £247.2m).

The financial services segment (including Financial Planning) generated £203.7m of operating income (H1 2020: £101.7m). The professional services segment, created following the acquisition of Smith & Williamson, generated £51.3m. The fund administration segment, also created following the acquisition of Smith & Williamson, generated £6.8m of operating income.

Net new business inflows were £1bn (H1 2020: £0.4bn), representing 3.9% of opening assets on an annualised basis.