View more on these topics

Advisers don’t like talk of Gartmore bidding for Jupiter

Leading investment advisers would not be in favour of a merger between Gartmore and Jupiter after reports that Gartmore’s private equity backers are lining up a bid for the fund firm.

There are concerns that any move by Gartmore for Jupiter would result in an exodus of fund managers from the Commerzbank-owned fund house and that the two firms have too much overlap to be a good fit.

There are also worries it could damage Jupiter’s culture and undermine the new sense of purpose pro- vided by Gartmore’s new partnership structure.

A Gartmore insider insists that its majority shareholders Hellman and Friedman are in discussions with Commerzbank although the German company denies this.

A merger would create a 40bn giant but advisers say the two firms’ strengths in UK and European equities and multi-manager would not be complementary.

Hargreaves Lansdown head of research Mark Dampier says: “I am not crazy about it because I do not like fund house mergers unless they instinctively link together. Jupiter have their own people and I do not see them matching well with Gartmore.

“You would see half the managers leave and funds under management will disappear.”

Chelsea Financial Services managing director Darius McDermott says: “As a fit I think they are both too big. It took three or four years for Invesco and Perpetual to settle down after their merger.”


Kensington to offer free valuations on direct business

Kensington Mortgages is offering free valuations on all products in its core range placed direct with the lender, and is working with its key packager partners to provide incentives on packaged products.Brokers placing business direct with Kensington on its Simple and Extra Choices ranges will be able to offer their clients a free valuation. Kensington […]

Move to set up Reit diploma

The Reits and Quoted Property Group is looking to develop an adviser Reit diploma but some in the industry suggest the subject should be introduced as part of existing exams. RQPG, the group behind the website, says it is looking for partners to develop a specialist diploma focusing on Reits. It has started approaching […]

Simon Wombwell

If Scottish Widows Investment Partnership head of UK distribution Simon Wombwell ever tires of life in financial services, he always has the option of applying for the manager’s job at his beloved Sheffield Wednesday.

Ant and Dec miss critical point on business protection

TV presenters Ant and Dec have taken out life insurance in case either of them dies but Scottish Widows protection marketing manager Nick Kirwan believes that they should have considered critical-illness cover. If either of the pair dies, the other will receive a payout of at least 2m. But Kirwan says as Ant and Dec […]

The Day of (B)reckoning

A period of exceptional uncertainty started last Friday for the UK, including a fierce leadership battle in a deeply divided Conservative party, the timing of the trigger of the EU’s Article 50, as well as a potential referendum in Scotland, and Northern Ireland. Click here to read the full article


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm