London's Tilney, Smith & Williamson to rebrand as Evelyn Partners

In announcing the planned name change, TSW explained that "Evelyn Partners" was a reference to "Evelyn Gardens," a London address from which one of the company's founders pioneered the expansion of its business in 1893.

TSW managing director of corporate affairs Jason Hollands said that the company's growing U.S./UK business would "also fall under the Evelyn Partners brand," and that the only Tilney Smith & Williamson element that would be keeping its original name would be its Bestinvest-branded online platform. 

"Currently our investment services for U.S. clients operate under Tilney Asset Management Ltd., which is an authorized investment adviser with the SEC, while the transatlantic tax team operates under the Smith & Williamson brand," Hollands added. 

"In due course all of these services will be provided under the Evelyn Partners brand." 

 As reported, Tilney Smith & Williamson, which traces its wealth-management roots back to the 1830s, recruited an experienced, dual-qualified U.S. and UK tax adviser named Adam Smith last year to oversee the development of its U.S./UK business, in response to what the company said was a growing demand for "transatlantic tax advice" from clients.

Smith joined the firm from Blick Rothenberg, where he was a partner for three years.

Also looking after Americans at the firm, from the investment side, is Tilney iInvestment Director Wayne Ellis, who is also Head of Tilney U.S. Services.

Within the next few weeks, the various divisions of the company soon-to-be-known-as Evelyn Partners will come together in newly-refitted offices at 45 Gresham Street in the City of London (pictured above). 

In results posted last month, TSW reported its group operating income grew 83.4% to £560.8 million (US$734.85m) in the year to the end of December, as assets under management grew by 12.7% to reach a record high for the group of £57.7 billion (US$75.54 billion). 

TSW is reported to be the UK's third largest wealth manager, following the coming together in 2020 of Smith & Williamson – founded in Glasgow in 1881 – and Tilney Bestinvest, which name Tilney acquired after its private equity owner, Permira, combined it with its Bestinvest, an execution-only investment service for individual investors, in 2014.

In addition to Permira, the company is owned by its staff and former staff, as well as Warburg Pincus, the New York-based private equity firm.