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Former Sesame boss launches DFM

Former Sesame Bankhall chief executive George Higginson and ex-HSBC global head of wealth insurance Geoff Brooks have launched a discretionary fund manager. Alpha Beta Partners offers a range of actively managed and passive portfolios investing in ETFs, investment trusts and direct securities. The business was originally launched last year by Kevin Doran under the name […]

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Who were the winners at the Money Marketing Awards?

Addidi Wealth and Informed Financial Planning were among the top advice firm winners at last night’s Money Marketing Awards. Leading lights of the profession gathered in London for the glamorous ceremony hosted by comedian Hal Cruttenden. The Money Marketing Awards recognise those who have reached the top of their fields, from investment and retirement advice […]

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SJP positive on academy growth

St James’s Place is positive about the growth of its 250-strong academy despite reporting a loss in its advice arm for 2017 earlier this month. The restricted advice giant posted a loss of £35.4m for 2017, an increase on the £24.8m loss in 2016. A breakdown of SJP trainees provided to Money Marketing by the […]

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NS&I pledges closer links to advisers

NS&I has reaffirmed its commitment to working closer with financial advisers as it lines up a series of service improvements for later this year. In its annual report, released this morning, the government-backed savings bank confirmed that its plans earlier this year to give financial advisers telephone access to clients’ NS&I holdings had gone to […]

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Intelligent Money eyes Sipp market exit

Intelligent Money is considering exiting the Sipp market to become an independent provider of standard personal pension plans. The company says it is looking at re-branding its Sipps as flexible personal pensions to better reflect its position in the market. The firm is in discussions with advisers about the potential change and says the shift […]

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Virgin Money bought in £1.7bn deal

The parent of Yorkshire Bank and Clydesdale Bank has agreed to buy Virgin Money for £1.7bn. The businesses say the deal will create the UK’s first “true national banking competitor to the status quo”. The new group will serve around six million customers. A notice to investors from CYBG says: “The combined group will have […]

Equitable Life sale to bring windfall for policyholders

Embattled mutual insurer Equitable Life has been bought by Reliance Life, part of the Life Company Consolidation Group. In March reports emerged the firm was preparing to sell. Equitable Life, which has been in run-off since closing to new business in 2000, was still technically owned by its more than 300,000 remaining policyholders, most of […]

Old Mutual boss: More businesses like ours will break up

Old Mutual chief executive Bruce Hemphill has predicted that more financial services firms will look to follow his firm’s lead and separate their businesses. In an interview with the Times, Hemphill says that the regulatory environment since the financial crisis means that those with a global footprint will look to focus in on different geographies. […]

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Welsh govt could ‘take action’ if British Steel introducer found breaching £119k grant

The Welsh government gave an introducer at the heart of the British Steel Pension Scheme saga a £119,000 grant in 2014. Today the BBC reported Celtic Wealth Management received a grant to create jobs in Pontarddulais, Wales by “delivering a range of financial intermediation services”. The Welsh government website says it provides a range of […]