Company news

AFH makes first acquisition of 2019

Consolidator AFH has picked up another acquisition to begin 2019, buying up West Midlands advice firm Hayburn Rock Group. The Stourbridge-based adviser, which has over £100m of funds under management, has sold to AFH for a maximum of £3.5m. Pre-tax profit for Hayburn Rock was £400,000 in 2017 on the back of £2.1m in revenues. […]

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Openwork ups recruitment focus as sales head gets new role

Advice network Openwork is looking to focus more on adviser recruitment and its academy programme as it reassigns its protection sales head Claire Limon into a new role. Limon will become head of recruitment and development at Openwork, moving across from her role as head of national sales at Owl Financial, Openwork’s protection-only business. Limon, […]

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Blackrock to cut 500 jobs

Blackrock is due to slash hundreds of jobs in the opening months of this year. MoneyMarketing has seen an internal memo from the world’s largest asset manager outlining plans for 500 positions, equivalent to 3 per cent of its workforce, to go in the coming weeks. The cuts are not focused on any specific region […]

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Aberdeen Standard seals deal for 50% Virgin Money stake   

Aberdeen Standard Investments has signed a purchase agreement with Virgin Money as part of the firms’ joint venture to build a new investment proposition. CYBG, which completed the takeover of rival Virgin Money last October, said the joint venture with Aberdeen Standard will “build on” Virgin Money’s £3.7bn funds under management as customers will also […]

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Adviser trade body reshuffles board members

Adviser and wealth manager trade body Pimfa has reshuffled its top team as three board members come to the end of their terms. The departing board members are Rathbones head of client service and proposition David Howard, ex-Schroders global head of wealth management Andrew Ross, and former executive chairman of Scottish wealth manager Speirs & […]

Outgoing FCA chair to head up debt charity

John Griffith-Jones, former chair of the FCA, has become chair of Step Change Debt Charity. Griffith-Jones (pictured) was chair of the regulator and its subsidiary the Payment Systems Regulator between 2013 and 2018 and has also been chief executive, chairman and senior partner of KPMG. He replaces Sir Hector Sants who left Step Change Debt […]

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Chase de Vere appoints new corporate adviser team head

Chase de Vere has promoted Stewart Speirs to the newly created role of corporate senior manager. He will be responsible for managing Chase de Vere’s team of 17 corporate advisers based around the UK. This team provides workplace financial education, business protection advice and employee benefits consultancy for employers. Speirs joined Chase de Vere in […]

Budd, Hoskin and more great speakers added to Money Marketing Interactive

Money Marketing’s flagship conference, Money Marketing Interactive, has added even more brilliant names to its London date. For an in-depth look into consolidation, Former Ovation managing director Chris Budd will be taking to the stage to talk about how he was able to sell his advice firm to his own staff, while Almary Green’s Carl […]

Standard Life scheme to pay member £20k over transfer delay

Trustees of the Standard Life Staff Pension Scheme must pay a member nearly £20,000 for the investment losses resulting from a delayed transfer. In the upheld Pensions Ombudsman ruling, Mr L complains he was given misleading information regarding his statutory right to transfer and he lost money. Mr L is a current employee of Standard […]

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Tilney adds £340m in assets with second year-end acquisition

Vertically-integrated national Tilney has acquired the wealth management business of accountants Moore Stephens. Tilney, which operates both financial planning and investment management services, will take on 11 new staff and £340m in assets through a business transfer agreement with Moore Stephens. The deal is the second the firm has signed around Christmas, having also announced […]