Financial Services News

Close Brothers expands into Cheltenham - Close Brothers Asset Management has strengthened its regional presence with the opening of a new investment office in Cheltenham following several senior appointments over the past year.

New academy aims to attract future advisers - Financial Planner Life has partnered with NextGen to launch an academy designed to help people begin careers in financial planning, paraplanning and mortgage advice.

Tenet reports lower annual revenue - Tenet Group has posted a decline in revenue after restructuring its adviser network, as the business continues to focus on improving quality and long-term performance.

Oberon wins discretionary investment mandate - Oberon Investments has been appointed to manage the Margetts Tempus Growth Portfolio following changes to its previous investment management arrangements.

WH Ireland announces cost-saving measures - WH Ireland is planning workforce reductions after reporting weaker financial results, with the firm targeting a return to profitability.

Former Brooks director launches new DFM - Ex-Brooks Macdonald investment director Daniel Minett has launched Five Horizons Wealth Management, offering a new discretionary fund management proposition.

FCA winds up Surrey advice firm - The FCA has secured the compulsory liquidation of Independently East Ltd following regulatory concerns surrounding the firm's handling of client financial information.

Strategic Wealth Partners launches - Industry professionals Amyr Rocha Lima and Ian Cooke have established Strategic Wealth Partners, focusing on tailored financial planning for high-net-worth clients.

New managed portfolio service unveiled - Clever Adviser Technology and Marlborough Investment Management have introduced a managed portfolio service aimed at helping advisers navigate changing market conditions.

Bupa expands family health offering - Bupa has launched a new health insurance proposition featuring enhanced family benefits, including mental health support and additional cover for children.

Artemis maintains partner distributions - Artemis Investment Management has continued to reward partners despite reporting lower profits and assets under management.

Phoenix signals further acquisition plans - Phoenix Group says it remains well positioned to pursue additional acquisition opportunities following the successful integration of Sun Life of Canada UK.

Kingswood delivers profit growth - Kingswood has reported higher operating profit and revenue growth, supported by acquisitions and continued expansion across its UK and Ireland business.

Mergers & Acquisitions

Thesis acquires Castlefield's ACD business - Thesis Unit Trust Management has acquired Castlefield's authorised corporate director business, expanding the number of funds under its oversight.

Skerritts completes first deal under new CEO - Skerritts has strengthened its advice business with the acquisition of Kent-based financial planner Ambrose Fisher.

Foster Denovo expands into Newcastle - Foster Denovo has acquired Wade Financial, adding more than £220m of client assets and strengthening its presence in the North East.

Aviva agrees AIG Life UK acquisition - Aviva has announced plans to acquire AIG's UK protection business, reinforcing its position within the protection market.

Söderberg & Partners enters UK advice market - Swedish wealth manager Söderberg & Partners has made its first major investments in the UK through stakes in three financial advice firms.

Movers

Canaccord strengthens regional leadership - Canaccord Genuity Wealth Management has promoted Adam Ross and Rupert Stone to divisional director positions across its regional office network.

HSBC appoints new credit solutions head - HSBC Asset Management has recruited Richard Smith from Abrdn to lead its UK Credit Solutions team.

Quilter appoints academy director - Quilter has hired Chris Jones from St James's Place to lead its Financial Adviser School and support adviser development.

Atomos adds planning specialist - Atomos has appointed Dawn Mealing as Financial Planning Business Manager, bringing more than 30 years of industry experience to the firm.

Quilter Cheviot grows research team - Quilter Cheviot has expanded its investment research capability with the appointment of analyst Samir Shah.

SJP names incoming chief executive - Mark FitzPatrick has been confirmed as the next Chief Executive of St James's Place, succeeding Andrew Croft.

HSBC strengthens private banking team - HSBC Private Banking has recruited five relationship managers to expand its UK high-net-worth client offering.

Former rugby players move into financial planning - Former Newcastle Falcons players Alex Tait and Will Welch have started new careers as financial advisers with Independent Wealth Planners.

Weatherbys announces leadership succession - Weatherbys has appointed Quentin Marshall as Chief Executive while Roger Weatherby moves into the role of Chair.

Iress UK CEO steps down - Simon New has left his position as Chief Executive of Iress UK just months after taking on the role.

Quilter creates dedicated M&A role - Quilter has appointed Willem van Rooy as Director of Mergers & Acquisitions to support the group's future acquisition strategy.

Benchmark appoints commercial director - Benchmark has strengthened its executive team with the appointment of Gillian Hepburn as Commercial Director.

Sesame Bankhall appoints new CEO - Richard Harrison has been named the next Chief Executive of Sesame Bankhall Group, subject to regulatory approval.

7IM creates new strategy role - Seven Investment Management has appointed Agustin Fernandez to lead corporate strategy and business development initiatives.

Rathbones reshapes finance leadership - Rathbones has announced changes to its finance team as it continues integrating Investec Wealth & Investment into the business.

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All information provided in this Market Digest has been gathered from Money Marketing and Citywire Wealth Manager.