Company news

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Almary Green eyes merger with Norwich IFA

Almary Green, the advice firm led by industry veteran Carl Lamb, is in sale talks with Smith and Pinching Financial Services, Money Marketing understands. One source tells Money Marketing Almary Green staff have visited the Smith and Pinching offices, and that there have been discussions around a merged firm being floated on AIM. The Norwich-based […]

SJP poaches from fund manager for marketing hire

St James’s Place has hired Claire Blackwell as director of marketing from Newton Investment Management. Blackwell says: “We have a responsibility to continue to develop ourselves and our proposition in the interests of better financial outcomes for clients.” SJP shuns new CII exam in favour of in-house programmes She has held a variety of positions across the […]

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PFS appoints Sanlam UK chief as president

Sanlam UK chief executive John White has been appointed as president of the Personal Finance Society for 2018/2019. White will be replacing Thornton Chartered Financial Planners managing director Sharon Sutton, who will step down following the completion of a 12-month term as president. Commenting on his appointment, White says his predominant focus during his term will be […]

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Aegon starts payouts to customers over Cofunds issues

Aegon has this week written to customers who are eligible for compensation following issues with the Cofunds replatforming and expects the first payments to be made from tomorrow. Aegon met with its advisory board last week and called the meeting “constructive but challenging”. The board is made up of advice firms brought in to contribute […]

Sanlam poaches from Aberdeen Standard for new distribution head

Sanlam UK has brought in Richard Pursglove as its new distribution head to lead the business’s sales and marketing strategy. Pursglove most recently worked at Aberdeen Standard Investments to support the integration of the global distribution team during the merger of Aberdeen Asset Management and Standard Life. Pursglove started his career as an IFA and […]

Schroders increases stake in Benchmark Capital

Schroders is now the ultimate controlling party in advice business Benchmark Capital after increasing its stake in the firm in May. According to Benchmark Capital accounts filed to Companies House, Schroders increased its equity stake in the business to 77 per cent on 25 May. Schroders previously held a 65 per cent stake in the […]

JP Morgan to set up Luxembourg wealth management unit in Brexit move

JP Morgan is to move some of its wealth management operations from London to Luxembourg ahead of the UK leaving the EU. According to the Financial Times, some investment banking and corporate banking operations will also move. The US firm plans to create a “significant” business in Luxembourg, according to the report, which will allow […]

Fidelity advice business ushers in new boss

Fidelity has confirmed a change in leadership for its advice business Fidelity Retirement Services. Former Fidelity personal investing head Jonathan Hewitt has left the business with Stuart Welch, who also oversees Fidelity’s share dealing service, taking on that role. As personal investing head, Hewitt was responsible for Fidelity’s advice business as well as its direct-to-consumer […]

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Intrinsic reports £15m loss

Losses at Quilter-owned advice network Intrinsic have increased again. The business has reported an operating loss of £15.1m in the year ended 31 December 2017, an increase on the £8.9m loss it made the previous year. According to accounts filed to Companies House, the increased loss at Intrinsic Financial Services was due to growing its […]