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Nucleus pre-tax profit up 26% in Q1

Nucleus has reported a 26 per cent increase in pre-tax profit for the first three months of the year. The platform made a £564,000 profit in Q1, up from £449,000 in Q1 2014. Gross inflows for the first quarter of the year totalled £510m, up by 6 per cent from £481m in the equivalent period […]

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Cowley departure prompts OM bond fund downgrade

Morningstar has downgraded the Old Mutual Global Strategic Bond fund from ‘Bronze’ to ‘Neutral’ following the announcement of Stewart Cowley’s upcoming departure. Cowley, who manages the £561m Old Mutual Global Strategic Bond fund, leaves in June and will be replaced on the portfolio by Christine Johnson and John Peta. OMGI chief executive Julian Ide says: “I am grateful to Stewart […]

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Garry Heath to launch adviser trade body

Former IFA Association director general Garry Heath is to launch a new adviser trade body, Money Marketing can reveal. The trade body will be open to wealth managers and independent and restricted advisers, and is set to launch next month.  Heath says there is a “considerable team” behind the organisation. He says: “We are going […]

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NAB set to offload Clydesdale and Yorkshire Banks

National Australia Bank is set to let go of Clydesdale and Yorkshire Banks and float part of the business. As part of its de-merger plans, NAB will transfer 70-80 per cent of its shares in Clydesdale, which includes Yorkshire Bank, to NAB shareholders. The remaining 20-30 per cent will be floated on the stock exchange. […]

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