Frank O'Donnell

Towry Law chief executive Andrew Fisher has said he will inject between £10 million and £15 million into integrating Edward Jones with his firm.

Fisher, who paid just £1 for the loss making company, said he would plough cash into integrating the two firms over the next four months.

‘The cost of integration, migration [and] getting everyone on one system will probably be between £10 million and £15 million. I think a lot of it will be happening in the next three or four months,’ he said.

‘To begin with there was a huge amount of shock and emotion because they [Edward Jones advisers] were a very, very strong culture and very good culture. People were just disappointed and upset with the fact Edward Jones had decided to withdraw from the UK for very good commercial reasons.

‘People are doing what we asked them to do which was to give us a chance to explain who we are and what we do and when they hear that- they hear that three or four times from three or four people- they are very excited.’