The London Stock Exchange is close to buying Russell Investments in a deal expected to be worth around $2.8bn (£1.67bn), the FT reports.
In a statement issued last month, LSE confirmed it was in exclusive talks with Russell about a possible acquisition. Russell owns the On-line Partnership, the parent company of adviser networks In-Partnership and Whitechurch.
According to the FT, LSE and Russell have now reached a “tentative agreement” on the price and structure of the deal and are planning to announce the agreement later this month.
However, the report adds that while talks are advanced the acquisition is not yet certain.