Tilney Smith & Williamson (Tilney S&W) is “eyeing” the acquisition of Punter Southall’s wealth management business, The Times reported over the weekend.

The speculation follows news last week that Tilney S&W has purchased financial planning business HFS Milbourne, which has £350 million under management.

Punter Southall’s wealth management AUM is about £3.4 billion. The wealth business was formed in 2019 through the merger of Psigma and Punter Southall Financial Management, both of which were owned by the 1988-founded Punter Southall group.

The merged group has about 160 emp...