Skipton agrees deal to sell Torquil Clark

Skipton Building Society has agreed to sell its financial advice business Torquil Clark Holdings to wealth management company, Bellpenny (Capital Professional) for an undisclosed sum.
By The Newsroom
Published 5th Aug 2014, 09:31 BST

The sale is subject to FCA approval. The deal includes Torquil Clark’s wealth management and employee benefits businesses. It also includes Torquil Clark’s execution only business TQ Invest, which accounts for more than £500m of the funds under management.

Employees of Torquil Clark, which includes 16 financial planners and more than 50 support staff, will join Bellpenny.

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Skipton Group chief executive David Cutter said: “We are pleased with the way we have been able to develop Torquil Clark since it has been part of the Skipton Group, in collaboration with its management team.”