A PIONEERING Rossendale businessman who set up one of the North-West’s first independent financial advisory firms has died, aged 83, after a short illness.

Prior to launching Torevell Mahon & Co, Alan Torevell was head of economics at Leeds Grammar School and an education consultant to the London Stock Exchange.

The firm grew steadily and in the late 1980s was taken over by a London-based merchant bank and renamed Torevell Mahon Granville (TMG).

Mr Torevell, a keen Burnley FC and Lancashire Cricket Club fan who lived in Lumb, remained managing director of the firm and became a director of Granville and its subsidiary Granville Bank.

At the age of 60, he left TMG and launched a new company, Torevell Dewhurst (quickly renamed Dewhurst Torevell as part of a legal deal with Granville and TMG), which is when he was joined by his son, Martyn, in the business.

Now known as Torevell & Partners, the firm continues to thrive and currently manages around £500m of client assets from its headquarters in Manchester.

Mr Torevell stepped away from giving advice a number of years ago but remained actively involved in Torevell & Partners until the end as its non-executive chairman.

Paying tribute to his dad, Martyn said: “My father was renowned for the personal care and attention he paid to clients and built up very strong relationships with them and their families, often across several generations.

“As a firm we’re proud to look after the great-grandchildren of some of his first clients.

“My father passionately believed that businesses should be involved in the wider community and as a result there are many cultural organisations which benefited from his support.

“He’ll be sadly missed personally and professionally by a lot of people in Rossendale and Lancashire,” he added.

Mr Torevell studied at Bacup and Rawtenstall Grammar School where he met his wife, Barbara, and established a number of friendships that would last a lifetime.

Mr Torevell, who died on May 20, supported national organisations such as the Duke of Edinburgh’s Award Scheme and was a holder of the its diamond award.