WHAT I REALLY THINK

Investment services provider Morningstar has launched a managed portfolio service for advisers.

IFA acquirer, Bellpenny, has completed a client bank and funds under management acquisition of Price Bailey Financial Planning, the IFA arm of Price Bailey Chartered Accountants.

Wealth management firm, Towry, has posted pre-tax profit of £9.4m for full-year 2012 up from £8.3m in 2011.

Roger Edwards, managing director of UK protection at Royal London, is to leave the company.

Foster Denovo has posted pre-tax profit of £947,000 for 2012, an increase of 71% on 2011 when it was £551,975.

More than 70% believe tax breaks could provide an incentive for take up of financial protection, according to a survey published today.

Providers should "show solidarity with advisers" rather than offer non-advised companies cheap deals on annuities, according to one Cheshire-based annuities specialist.

STAT ATTACK

IFA acquirer Bellpenny has completed the purchase of the IFA arm of Tunbridge Wells-based accountancy firm, Foot Davson.