Companies

Support services provider SimplyBiz has swung deep into the red after writing down a loan to national advice firm Sandringham Financial Partners and suffering losses from its investment in employee benefits business Staffcare.

Just a fifth planning internal succession

Two firm directors who lost investors £50m in a scheme the Serious Fraud Office (SFO) branded "an elaborate scam" have been sentenced to a total of 12 years in prison.

Veteran bond manager Bill Gross is suing his former employer PIMCO for "hundreds of millions of dollars" following his dismissal in 2014, according to reports.

Restricted network Intrinsic Financial Planning has reported a loss after allowing for £1.7m to cover potential complaints about advice to clients to invest in unregulated collective investment schemes (UCIS).

Rathbones bought out Vision Group

£550m in combined AUM

Lindley Group offloads SSAS admin operation

Old Mutual Wealth's (OMW) decision to launch a national advice firm has raised the spectre that the fund giant will leverage the mass of data it holds on its investors to poach clients from other advisers.

Adviser network Intrinsic and its parent company Old Mutual Wealth (OMW) are to launch a national advice business aimed at the "underserved segments" of the market.