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Invesco seals merger with OppenheimerFunds to break $1trn mark

Invesco has sealed a deal to acquire OppenheimerFunds as the firrm looks to break into the top 10 global investment managers. The deal will see OppenheimerFunds parent Massachusetts Mutual Life Insurance Company sell the asset manager to Invesco, with MassMutual taking a 15.5 per cent stake in Invesco in return. Invesco will manage $1.2trn (£920bn) […]

Consolidator makes 51st buy with latest IFA acquisition

Advice firm consolidator Newell Palmer has acquired midlands IFA Sense Wealth Management in a deal adding another £35m to its funds under management. The purchase is the 51st acquisition made by Newell Palmer since it began trading in 1993. The £35m is split between around 100 active clients from Sense, who will all transfer over […]

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RBS and Nest executives appointed to government guidance body board

Three directors have been named to the board of the newly-launched Single Financial Guidance Body. The Department for Work and Pensions has appointed former National Employment Savings Trust chief executive Tim Jones and Royal Bank of Scotland director for products Moray McDonald as non-executive directors. University of Bristol emeritus professor Elaine Kempson will also join the board. […]

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Profile: Susan Hill on making planning appeal to women

Susan Hill director on making finance more appealing to women and the need for a central training academy Think about your favourite products and services – the fragrance your partner bought you last Christmas; the last concert you went to; that meal you recently had at your local restaurant. Now think about the way they […]

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Opperman backs initiative to reduce DC transfer times

Pensions minister Guy Opperman will say pension schemes should sign up to a framework to reduce transfer times between defined contribution plans. In a keynote speech at the Pensions and Lifetime Savings Association conference, Opperman plans to endorse the Transfers and Re-Registrations Industry Group framework. The industry group published a good practice framework aimed at […]

Ultra-high net worth fear cookie-cutter wealth advice

Families with family office wealth arrangement harbour concerns over whether the services provided them are truly bespoke, a new report says. Findings from Sanlam UK and international wealth association Global Partnership Family Officers say the ultra-high net worth individuals who use family office set ups believe the same wealth advice solutions are often given to […]

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MPs slam plans for FOS review

MPs on the Treasury select committee have slammed the Financial Ombudsman Service’s plans for how it will review past cases for evidence of poor decisions. FOS is planning to review decisions made soon after it reorganised in 2016, and has provided details of its proposed methodology to committee chair Nicky Morgan. FOS has outlined a […]