Towergate acquires Money Wise (Scotland)

by Gill Montia

Story link: Towergate acquires Money Wise (Scotland)

Towergate Partnership has expanded its presence in Scotland with the acquisition of Money Wise (Scotland) Limited, which has offices in Banff and Buckie.

The firm’s 15 staff and directors have transferred to Towergate and the team will continue to be led by managing director, Bruce Law.

Money Wise controls premiums of over £3.5 million and has a “strong and well established” commercial and retail client base.

The move adds to Towergate’s network of broking offices in Glasgow, Aberdeen, Kirkcaldy, Berwick, Jedburgh, Galashiels, Inverness and Elgin.

Regional managing director, Alan McEwan, describes Money Wise as “a great fit for us in Scotland where we will continue to grow through more acquisitions of quality broking businesses”.

Last month Towergate strengthened its presence in the North East with the acquisition of Rixon Matthews Appleyard Ltd.

The Hull-based firm, which employs 25 staff has been trading for over 40 years and controls premiums of £10 million.

The firm has strong commercial and personal lines business plus specialist niches including garden centre, glasshouse and growers schemes.