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Will boutique heroes wing it?

Advisers are questioning if some of Resolution Asset Management’s “superheroes” will fly off after the Pearl deal.

But some commentators consider Pearl’s acquisition of Resolution is preferable to Standard Life taking over the firm, which would have seen RAM merge with Standard Life Investments.

Hargreaves Lansdown senior adviser Ben Yearsley says: “There must be some relief around the office that Standard Life has not got hold of the asset management arm as that would have led to some sort of consolidation, whereas with Pearl the group will be delisted, which means less accountability.

“The only question that remains is whether there is a change of ownership clause in the boutiques and, if so, would they take this opportunity to leave?”

Chelsea Financial Services managing director Darius McDermott says the most recent boutique launch, multi-manager Maia Capital, is likely to stay as it has £200m seed funding from Resolution AM.

Boutique Argonaut has over £1bn in assets and could run as a standalone business.

He says: “Many of the boutiques are likely to stay, based on the seeding received from Resolution.”

BestInvest investment manager Hugo Shaw says: “One could play devil’s advocate and say Resolution would have benefited from Standard’s expertise but the Pearl offer looks much more attractive in terms of not having to merge with another asset manager.”


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Preparing for the changes to the pensions market

As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.


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