Tilney Group would almost certainly place highly in terms of growth, however measured, in any ranking of the UK wealth management sector over the past seven years.

Backed by Permira, one of Europe’s leading private equity firms, it has made a series of acquisitions, the net effect of which has been to power Tilney into the top echelon of UK specialist wealth managers.

Indeed, if its purchase of Smith & Williamson (S&W) is eventually approved by the FCA, Tilney will rank around third in ...