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Doubts remain over asset manager preparedness for Mifid II

Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]

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Former Jupiter owner set to back Buxton in OMGI buyout

OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]

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Working out if a fund is value for money

Recently regulatory changes have led to a much greater focus being placed on everything the end client pays. For asset managers, there has been a greater focus on a fund’s AMC and ongoing charges figure. This has helped passive funds gain significant inflows over the last couple of years and generally they are much cheaper […]

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National firm LEBC buys Bristol IFA

National advice firm LEBC has acquired Bristol IFA Aspira Corporate Solutions in a deal valued at £5m in cash and shares. Aspira has nearly £0.5bn in assets under advice, 50 staff and more than 11,000 clients. Aspira chief executive Derek Miles will join the LEBC senior management team. LEBC says the acquisition will “increase turnover […]

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AJ Bell reports 25% boost to AUA

AJ Bell saw assets under administration increase by 25 per cent to £39.8bn in 2017 for the 12 months ending 30 September 2017. In 2016 AUA was £31.8bn. The business also reported a 29 per cent increase in profit before tax to £21.7m (2016: £16.8m). AJ Bell says the increase in AUA was largely driven […]

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Aberdeen Standard outflows continue but platform and pensions bounce back

Standard Life Aberdeen’s investment arm has seen outflows continue, latest results show, but the newly merged investment giant has benefited from an uplift from its pensions and platforms businesses. For the nine months to September, Aberdeen Standard Investments assets under management dropped from £580.6bn to £569.7bn, with company noting that market conditions “remain challenging.” This was offset by […]

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Pensions tax relief warnings as Scotland confirms income band changes

Scotland has introduced a new set of income tax bands, but pensions experts warn that the changes could cause issues with pension tax relief calculations. In the Scottish Budget today, the Government announced a new starter rate of 19p and then a 21p rate for those earning over £24,000. The higher rate of tax is […]