Wealth manager acquires second advice firm in a year
Wealth manager and legal adviser Progeny Group has acquired Chestergate Financial Planning in a continued push of its ‘acquire to hire’ strategy.
Companies
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Tesco resumes dividend as investors hail ‘turnaround’
Tesco delighted investors by announcing it will pay a 1p interim dividend for the first time since its accounting scandal.
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Fraudsters target Invesco clients in ‘sophisticated’ scams
Invesco Perpetual has issued a stark warning online after discovering its clients are being targeted by ‘sophisticated’ fraudsters in telephone calls and emails.
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Walker Crips reworks management team
Walker Crips has made a number of changes to its management team, promoting Glenn Cooper to group chief operating officer and adding two new managing directors.
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Fidelity switches to performance-based fee model
Fidelity International is the first major asset manager to make a switch to a “value for money” charging structure. The asset manager will give money back to clients when its funds underperform.
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S&W’s fund admin arm hits £10bn
Smith & Williamson has continued the rapid expansion of its fund administration business, hitting the £10bn milestone.
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Nutmeg’s losses widen despite surge in customers
Nutmeg, the online investment manager, saw losses rise to £9.3m last year despite a surge in customer numbers.
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Neptune tarred with £800m outflows
Outflows tarred Neptune Investment Management’s results for 2016 with assets under management and profits taking a hit during a year plagued with uncertainty.
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Carillion shares slump on second profit warning
A second profit warning from British construction firm Carillion in the space of a few months has sent its shares plummeting by nearly one fifth.
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Standard Life ‘simplifies’ adviser platform
Standard Life has announced it will be simplifying its dedicated platform for financial advisers, Elevate, which it bought from Axa early this year.
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People’s Trust names chair and first members of shareholders’ committee
Daniel Godfrey has assembled the first members of The People’s Trust shareholders’ committee and appointed Catherine Howarth, chief executive of ShareAction, to chair the group.
