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Cowley Stewart Old Mutual

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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Tories to raid pensions tax relief to slash IHT

Prime Minister David Cameron has pledged the Conservatives will create a new threshold for inheritance tax of £1m if elected. The changes would come into effect from April 2017, and will be funded by restrictions on pensions tax relief for those earning more than £150,000.  Annual allowances for savings will be tiered on earnings between […]

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Towergate Financial rebrands as Wren Sterling

Towergate Financial has rebranded to Wren Sterling following a management buyout. The new name will cover Towergate’s 110-strong adviser business. Mortgage broker John Charcol is expected to retain its existing identity. Palatine Private Equity completed a £14m deal in support of last month’s management buyout, backing Towergate Financial chief executive Warren Page to lead the […]

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7IM offers direct platform for orphan clients

7IM has launched a direct platform for orphan clients who no longer have an adviser. The wealth manager says it was seeing demand from orphan clients and did not want to turn them away if they ceased to have a relationship with their adviser. The fee structure is the same as for its advised clients, […]

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