Pearl and the FSA have agreed on a revised timetable for the Resolution acquisition deal to be completed which extends the deadline by three weeks. The extension is to allow Pearl to finalise discussions with the FSA regardingthe timing of post-completion distributions of capital from the Resolution lifecompanies. If no further time is required then […]
Many readers may be wondering what all the fuss is about. After all, surely only bad apples end up dealing with the FOS? As these readers always work in clients’ best interests, they may believe it is never going to happen to them. Well, no, that is wrong, actually.
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 […]
Three directors have been named to the board of the newly-launched Single Financial Guidance Body. The Department for Work and Pensions has appointed former National Employment Savings Trust chief executive Tim Jones and Royal Bank of Scotland director for products Moray McDonald as non-executive directors. University of Bristol emeritus professor Elaine Kempson will also join the board. […]