Somerset Capital sees profits slashed by a fifth as revenues shrink from Covid hit
But Jacob Rees-Mogg still set for a bumper £800k payday
Companies
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Andrew Formica loads up on £500k of Jupiter shares
Jupiter boss’ stake in the business now valued at £1.8m
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Schroders to allow staff to keep working remotely after Covid-19
Asset manager’s plush new offices had been opened by the Queen in late 2018
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Crispin Odey’s boutique hatches crisis plan as assault trial draws near
Worst-case scenario would see Odey’s European fund shuttered and retail funds handed to colleagues
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Hargreaves Lansdown dominates flows as platform industry rakes in £13bn
Net sales soar to the highest level since Q1 2018 despite coronavirus volatility
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UK wealth manager completes first advice M&A deal
Seven Bridges expects to increase its turnover to £1.8m after the acquisition
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M&G profits halve after investors yank ‘concerning’ £7.7bn from retail funds amid Covid crisis
Net outflows hit over double the £3.8bn pulled in H1 2019
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Quilter doubles DB legacy contingency fund to £24m
Financial services firm moves from ‘significant advice business acquisitions’ to focus on organic growth
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SJP adds 39 partner firms during lockdown
Former footballer and Fidelity International business manager among graduates to launch businesses during Covid
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Weekly outlook: UK unemployment and Q2 GDP figures; Quilter and Derwent London report
The key events for UK wealth managers for the week starting 10 August
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Hargreaves weathers financial impact from Woodford after governance revamp
‘It was essential that we learnt from the experience surrounding the Woodford issue last year’
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Canaccord Genuity Wealth Management assets jump 14% on previous quarter
But assets down 6% from previous year