WEALTH management group Tilney Smith & Williamson has announced the addition of the Capital Risk Management and MP2 Financial team to its operation in Edinburgh.

Tilney Smith & Williamson, which has £57.7 billion of assets under management, said the ten-strong team of CRM as well as the owner of its appointed representative firm, MP2 Financial, would reinforce its “ambition to continue growing presence in the city”.

The Mayfair-headquartered company, which is re-branding to Evelyn Partners this summer, said it has hired the teams at the firms, who will then invite their clients to become clients of Tilney Smith & Williamson and work with the business prior to advisers’ retirements to hand over their clients to new advisers.

As part of the deal, directors Grant Walker and Willie Crockett, as well as eight staff who will bring experience covering financial planning, paraplanning and administration, will move into Tilney Smith & Williamson’s office at Atria Two in Morrison Street in Edinburgh.

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John Mortimer, of MP2, will also be joining Tilney Smith & Williamson as part of the move.

Paul Frame, of Tilney Smith & Williamson, said: “Grant, Willie and the rest of the team at Capital Risk Management and John at MP2 Financial have worked hard to build great businesses over many years and I am delighted they are now joining us.”

Mr Walker said the move comes after discussion over the long-term future of the business and Mr Crockett said: “We have come to recognise the benefits of being part of a bigger group with significant resources.”

Mr Mortimer said: “This move will provide my clients with security in the knowledge that they will benefit from the resources of a national wealth management firm but at a local level.”