Transact has reduced charges on its platform and has lowered the threshold size of client portfolios eligible for lower annual fees from £180,000 to £150,000.

Report of exclusive talks with parent L&G

Global concerns weighed on decision

Woodford Investment Management has made six new appointments, including for three investment-focused roles.

Economist Nouriel Roubini has dismissed the market's reaction to the falls in the Chinese stock market as an overreaction.

Equity fund sales hit a 15-year peak in July, according to the latest statistics from the Investment Association, ahead of a turbulent August which saw many investors retreating from markets.

How absolute return funds fared during turbulent August

Axa Wealth has been named as the European multi-manager centre for the global Axa Group.

City Financial is to acquire the multi-asset range of Investec Wealth & Investment, bringing a further £204m in assets to the company.

Richard Buxton is to become the chief executive of Old Mutual Global Investors as Julian Ide steps down after four years.