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Friends buys Royal & Sun Alliance offshore arms

Friends Provident has bought the offshore arms of Royal & Sun Alliance for £133m, following the Friends Ivory & Sime deal for its fund management business.

Friends has now acquired the Isle of Man based life operations of R&SA, and the Luxembourg operations of R&SA Investment Management. The deal bumps up Friends&#39 offshore market share to 9 per cent.


High hopes, low success rates

Most national brands have moved a significant part of their focus to the high-net-worth sector in recent years and, consequently, have some variant of a wealth management model. Probably hundreds of millions of pounds have been invested in a myriad of initiatives, yet most of us would be hard-pressed to identify more than one or […]

PwC Consulting changes name to Monday

PwC Consulting is to rebrand itself as Monday. The change of name and rebrand of the global consultanting company comes as it separates from PricewaterhouseCoopers with the aim of floating this Autumn. It says the name will distinguish itself from it rivals and stands for “real people, real experience, real business…and that means real results.”

NU in talks with Revenue over money back annuity

Norwich Union is in talks with the Inland Revenue to get approval for a money back annuity that will pay out capital after death in the form of income. NU will guarantee the full original value of the annuity pot and will pay the outstanding balance to the annuitant&#39s estate on death as taxable income. […]

Generalists could face delegating investment business

General practitioner IFAs may be pressed in to referring their investment business to manager of manager firms as a result of the Sandler review, according to influential analyst Ned Cazalet. Cazalet, principal of Cazalet Financial Consulting, says the Sandler team is getting industry feedback suggesting that generalist IFAs do not have the time or resources […]


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