Tilney completed the acquisition and the merger with Smith & Williamson in a £625m deal.

Tilney, a financial planning and investment firm, completed the acquisition and the merger with Smith & Williamson, a United Kingdom financial and professional services firm, in a £625m ($780m) deal. “The merger of Tilney and Smith & Williamson represents a compelling combination and together we will look to build on the considerable and complementary strengths of both firms. Like Tilney, Smith & Williamson has an excellent reputation for looking after its clients over many years and we recognise the value its culture and expertise will bring to the combined group. This is a transformational deal, which will create a truly unique business, able to support clients from across the wealth spectrum with a comprehensive range of services for both their personal wealth management and business needs." Chris Woodhouse, Tilney Chief Executive. US private equity firm Warburg Pincus agreed to inject around £250m ($309m) into the merger of Tilney and Smith & Williamson to help get the deal between the wealth managers over the line.