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Wealth manager Tilney confirms talks to buy Smith & Williamson

Deal talks come two years after Smith & Williamson abandoned plans to merge with UK-listed Rathbones

Tilney has confirmed it is in exclusive talks with Smith & Williamson to create a UK wealth manager overseeing more than £45bn in assets.

The talks, which were first reported by the Sunday Times, come two years after listed UK wealth manager Rathbones failed in its attempt to acquire the independently owned Smith & Williamson.

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