Aim-listed advice and investment firm Harwood Wealth Management has continued its run of acquisitions with a deal to buy an Ascot-based retirement advice specialist. Harwood has acquired the assets of Plan65 for up to £1.56m depending on performance, with an initial payment of £810,000 coming out of Harwood’s existing cash reserve and the rest of […]
Old Mutual Wealth is expecting to list on the London Stock Exchange as Quilter on 25 June, according to an investor prospectus, as the chief executive of parent company Old Mutual has resigned. Bruce Hemphill, who has been Old Mutual group chief executive since November 2015, resigned from the boards of Old Mutual Group and […]
Lloyds Banking Group is closing a further 49 branches, resulting in the loss of 305 jobs. In total more than 1,230 jobs will disappear from its branch network and central office. But the UK’s largest bank says it is also creating 925 new roles and existing employee will be encouraged to apply for these positions. […]
Distribution head Campbell Fleming is confident the firm can keep huge mandates while ouflows persist Standard Life Aberdeen is optimistic that it can hold on to the £109bn mandate it runs for Scottish Widows as the giant asset manager looks to stem a stream of outflows and build its future. In a wide-ranging interview with […]
Aegon’s chief distribution and marketing officer, Mark Till is taking over the role of managing director for Aegon Digital Solutions, where he will oversee the platform’s workplace and protection businesses as the company continues its digital restructure. Till, who held multiple positions with Barclays for 22 years and has also spent time in marketing and […]
Intrinsic founder and former chief executive Richard Freeman will retire from the business in June 2018. Freeman signaled in 2015 that he would leave the advice network at some point in early 2017. Intrinsic former managing director Andy Thompson replaced him as chief executive in December 2015, with Freeman remaining at the firm as an executive […]
Aviva has apologised after a website issue left some advisers unable to submit applications on behalf of clients last week. Money Marketing understands online access was disrupted until at least 5:30pm last Friday. It is understood some advisers were unable to submit applications on behalf of clients, for example, life and critical illness cover applications. […]
Aviva has acquired Irish pensions, life and investment provider Friends First Life Assurance Company for £116m. Friends First is currently owned by Dutch insurer Achmea Holding and has a 6 per cent market share. The deal makes Aviva one of the biggest composite insurers in Ireland. The amount Aviva has agreed to pay for the […]
Providers are trying very hard to create their own advice businesses. This much we know. Yet the particular way Standard Life is going about it is intriguing. Not least, because of what we still don’t know about its 1825 project. Bristol-based IFA Fraser Heath Financial Management became the latest target to be snapped up by […]
Sandringham Financial Partners took on £1 million of additional debt in 2016 to fund its growth plans, its accounts show. The size of the company’s liabilities are revealed in its full year results for 2016, which have just been filed with Companies House. In total, the Yorkshire-based network had net liabilities of £5,208,678 – an […]
In August, Aviva sold its Italian joint venture to Banco BPM
Aegon is clear it does not intend to participate in distribution
Lloyds Banking Group revealed a bold three-year strategic plan last week, placing financial advice and pensions at the front of what it calls a “transformation for future success”. Shifts in the group’s focus have been high on the news radar of late, with its pensions arm Scottish Widows also set to review its asset management […]
St James’s Place’s 2016 results dropped a few weeks ago, and it proved to be another bumper year for the advice market giant. SJP reported profits of £140.6m, alongside record gross inflows of £11.4bn over the year. But the firm has come under fire in recent months over complaints and charges. Money Marketing has dug into the […]
You might not expect the chairman of a large adviser network to admit he was interested in Marxism as a young man, yet Sesame Bankhall Group’s John Cowan is very open about his past. Then again, not every financial services boss was raised in tenement housing without hot water or central heating, and with one shared […]
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The digital revolution has brought unprecedented opportunity to communicate but financial services seem more remote than ever to the UK public. Years ago, there was a strong correlation in the minds of the UK general public between financial matters and bicycle clips. In the days when milkmen delivered dairy products daily to the doorsteps of […]
Things are moving fast over at the newly merged Standard Life Aberdeen. The very first results for the combined company hit the wires this morning and, finally, a clear strategic direction is emerging. Overall, there were net outflows. Not a great start, particularly given Scottish Widows’ parent Lloyds’ decision to pull its £109bn mandate earlier […]
Dear Money Marketing readers, Later this week, you may notice a significant improvement to the Money Marketing website. In our constant quest to provide you with the best possible content, we are delighted to announce that our sister magazine, Fund Strategy, will be adding more great news, views and expert analysis to the Money Marketing website. For Money Marketing readers, this means a […]