Just Retirement says A-Day seems to have encouraged more people to shop around for the best annuity at retirement – with latest ABI sales data showing that more than 50 per cent of funds took the Open Market Option.
Credit Suisse’s PR firm (three guesses, anyone?) were left counting the cost of the decision of Gary Potter and Robert Burdett to leave the firm last week. All was set for the firm’s annual multi-manager teach-in, only for the announcement to seep through that there were no heads of multi-manager left at Credit Suisse to […]
Transact has broken through the £4bn mark of assets on its platform.Managing director Ian Taylor says the group does not set business targets because the assets held on the platform are subject to market movements but says he is pleased with its progress and attributes it to the quality of service and the people employed […]
Exit fees can mean advisers are hit with high and unpredictable costs, but are they justified? Many advisers have been caught out with the unexpected burdens that come with trying to leave a platform, and an increasing number of them are looking into the potential pitfalls that exiting discretionary fund manager services could bring as […]
Invesco has sealed a deal to acquire OppenheimerFunds as the firrm looks to break into the top 10 global investment managers. The deal will see OppenheimerFunds parent Massachusetts Mutual Life Insurance Company sell the asset manager to Invesco, with MassMutual taking a 15.5 per cent stake in Invesco in return. Invesco will manage $1.2trn (£920bn) […]
Advice firm consolidator Newell Palmer has acquired midlands IFA Sense Wealth Management in a deal adding another £35m to its funds under management. The purchase is the 51st acquisition made by Newell Palmer since it began trading in 1993. The £35m is split between around 100 active clients from Sense, who will all transfer over […]