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Robo firm seeks to understand adviser decision-making

Robo-advice firm Wealth Wizards is to start a service that will give advisers more information about the drivers behind the advice they decide to give. The service is expected to launch in the next 12 months. The service will use the firm’s white-labelled robo-paraplanner tool Turo, which was launched in March. That service can provide […]

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deVere Group grows UK footprint

deVere Group’s subsidiary UK Workplace Solutions has had regulatory approval to acquire WPS Advisory, which used to trade as Priscum Direct. UK Workplace Solutions was granted the approval notice from the FCA and will merge WPS under its own brand. deVere Group chief executive Nigel Green says WPS Advisory will focus on people facing “tough […]

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GAM to liquidate suspended manager’s bond range

Swiss asset manager GAM is to liquidate nine unconstrained/absolute return bond funds, following the suspension last month of the investment director who ran them. GAM suspended trading in its unconstrained and absolute return bond funds at the start of August, after a high level of redemption requests. In a letter posted on its website on […]

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Mattioli Woods buys Midlands firm for £4m

National IFA Mattioli Woods has bought West Midlands advice firm Broughtons Financial Planning for up to £4m. Broughtons has 250 clients and more than £120m assets under advice. In the year ended 31 July Broughtons reported profit before tax of £620,000 on revenue of £990,000. Its net assets at that date were £560,000. Mattioli Woods […]

Is volatility dead? No, sell credit

There are several arguments that one could currently make for why credit markets look unattractive. These include signals that the US economy is in late cycle, the fact that corporate leverage has been increasing (with 2016 setting a record for the amount of global bond issuance), and that US high-yield default rates have risen considerably […]

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