Smith & Williamson deputy chairman Lord Cobham is retiring from full-time employment but will continue to work as an adviser for the firm. David Cobb becomes head of investment management and Geoff Windebank as finance director in a group reshuffle.
Jupiter income trust manager Tony Nutt says the fund’s performance suffered after he went defensive too early.The £4.2bn fund celebrates its 20th anniversary this month and has long been an IFA favourite.Over the first eight months of this year, it returned a loss of 2.07 per cent compared with a 4 per cent rise in […]
GMAC-RFC has revealed it will be re-pricing its non-conforming products over 85 per cent loan to value tomorrow.It says it will confirm tomorrow how much it will increase its rates by but says its SVR will remain unchanged.This comes after it announced to its partners that it will increase rates by 0.5 per cent on […]
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 […]