High Net Worths Split On Prospects for UK Economic Growth In Second Half Of 2011, Says Towry

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Research carried out by Towry suggests a lack of consensus over short-term financial outlook.

At Towry, we’re more encouraged by the short term investment environment than we were in January, as there is more scope for progress with uncertainty often leading to opportunity.

A survey conducted by asset management specialist Towry has shown that respondents are divided almost 50:50 in their confidence that the UK economy will grow in the second half of this year.

Over 240 visitors to the Towry website participated in the survey, responding to the question: ‘Will the UK economy continue to grow for the remainder of 2011?’

The responses produced the following results:
Yes: 52% (126 Votes)
No: 48% (117 Votes)

Towry’s Insight team conducts regular surveys with clients and external groups as part of its Insight Agenda, designed to gauge consumer attitudes towards issues in the market and financial advice sector.

Dr Robert Dawkins, Chief Investment Officer at Towry, said: “We see here a lack of consensus amongst respondents, yet we interpret the results as being relatively optimistic. With consumer spending falling, retailers predicting more gloom to come and the Bank of England talking about people facing ‘uncomfortable’ years, we might expect there to be more pessimism amongst clients.

“At Towry, we’re more encouraged by the short term investment environment than we were in January, as there is more scope for progress with uncertainty often leading to opportunity.

“We will look to benefit from reaction amongst investors, and subsequent valuation opportunities across our diversified portfolios.”

For further information contact:

Towry                     
Natalie Domanski, Specialist – Marketing
Tel: 01344 828 178

Notes to editors:

Towry is a growing wealth advice business, employing 765 people in 21 offices across the United Kingdom and managing £4.5 billion of discretionary client assets (as at 30 June 2011).

Towry offers fee-based independent wealth management advice and independent investment management services to private individuals with investable assets in excess of £100,000.

The Company’s vision is to be the UK’s leading provider of wealth advice. Towry aims to achieve this by having professionally qualified employees delivering high quality advice and investment management services to clients supported by a robust operational infrastructure.

John Scott & Partners was formed in 1968 and in 2006 the company acquired Towry Law. The merged business was re-launched in 2007 as Towry Law. Towry Law acquired Edward Jones Limited in November 2009 and, following integration of this company, the merged business was rebranded as Towry in May 2010.

Towry is a private company: the principal shareholders are management and employees and Palamon Capital Partners, one of Europe’s leading private equity firms.

Towry has been listed among Private Client Practitioner’s Top 25 Most Admired Companies for 2011 and is appointed by Camelot to provide holistic financial planning advice to National Lottery winners.

http://www.towry.com

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Natalie Domanski
Towry
01344 828 178
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