Towergate Financial rebrands with Wren Sterling

The business, which was formed in 2007 and specialises in corporate and personal independent financial advice, will also receive heavy investment in new IT and back office systems.

The deal saw Palatine Private Equity complete the management buyout for £14m.

It was led by Tony Dickin and Andy Strickland, who have joined the boards of both companies.

John Charcol, one of the UK's most well-known mortgage brokerage brands, is retaining its 40-year old name.

Warren Page, chief executive of Wren Sterling, said: “Our new brand marks the start of a new era for our business.

“Importantly we have listened to our staff, clients and strategic partners and have delivered a new brand that reflects our propositions and values.

“It also symbolises the uncompromised role we play for our clients in guiding them through complex financial situations both now and in the years to come.”

Wren Sterling currently employs over 110 advisers across the UK.

Ian Darby, executive chairman of Wren Sterling, added: “The opportunity for Wren Sterling is significant and the financial commitment made in the business by Palatine and management signals our confidence in the market.

“Today’s launch of the new brand, Wren Sterling, is a significant 1st step post completion for all our staff and clients.”