Fresh from selling off its general insurance operations in Australia, AMP is continuing its strategic expansion into the British wealth creation market. Its decision to buy investment adviser Towry Law for $207 million has also been touted by CEO Paul Batchelor as a model that can be readily adapted to exploit opportunities in the vast-growing European life and pensions market.

Towry Law is a strong brand in the UK, employing more than 200 financial planners. It will continue to operate under its own brand and be operationally independent, although it will be strategically integrated into AMP’s UK financial services business.