Investment

Neil Woodford has made a new investment in AJ Bell via a fundraising round which ensures the Invesco Perpetual-backed platform will remain a private company.

Professional adviser body the Personal Finance Society (PFS) has called for the introduction of a product levy to help reduce the regulatory cost for advisers.

Executive chairman of advice firm Mattioli Woods Bob Woods is to keep his 15.1% shareholding in the company following the divorce from his wife but will pay out half its value, the pair have agreed.

Wealth manager Towry is to move its self-invested personal pension (SIPP) clients onto the James Hay platform after the closure of its SIPP operation later this year.

Inflows onto Aegon's platform have tripled as the provider benefited from the effects of pensions freedom, it said in an interim statement today.

Income drawdown has become an increasingly popular option among advisers for clients with smaller retirement pots, as demand for the product surged overall post pension freedoms, research has suggested.

Retirement specialist Just Retirement has partnered with wealth management technology firm GBST to power its new platform for retirement savings to be launched in the coming month.

Rowanmoor Group has added a single investment option to its new post-retirement-freedoms SIPP, with reduced set-up and administration fees.

Provider Standard Life has called on the industry to come up with better processes to ensure non-advised income drawdown clients efficiently manage their retirement income.

Most savers have no intention of taking on the risks of investing in equities once they have begun to draw their pension, research suggests.