Mr Colyer joins Towry from Coutts where he worked as a Financial Planning product team director.
He spent 15 years working at Coutts and held a variety of roles including product development manager, Financial Planning advice services manager and head of regulated products.
He will be based at Towry's Birmingham offices.
Michael Pos, head of product at Towry, said: "This is a significant appointment for Towry's product team. Ed has a proven track record as an innovative and highly commercial product manager and his experience both in developing and delivering new products will only serve as beneficial to clients."
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Mr Colyer said: "Towry already has a strong and attractive offering of products and services. I am looking forward to the challenge of driving further innovation and improvement to our excellent client proposition."
This is Towry's second hiring from Coutts in less than a year after Kate Turner was appointed to head the client advice team last June.
Towry announced last year that it would be moving to a restricted offering in order to focus its research on those products which it felt would offer the best solutions for Towry clients.
The firm manages £4.5bn in discretionary client assets and employs 650 people in 18 offices nationwide.

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