Four companies have become two in the past 24 hours in developments that could have implications for...
Four companies have become two in the past 24 hours in developments that could have implications for service and product availability.
Raymond James Killik, the wealth management services joint venture owned by US firm Raymond James Financial and UK boutique stockbroker Killik & Co, has done a deal with Attica Asset Management to distribute Attica's multi-manager products via RJK's network of affiliated IFAs.
RJK says the deal is part of its strategy of providing IFAs the tools needed to develop private client wealth management businesses.
The link with Attica will boost distribution of its six current multimanager funds.
Elsewhere, A takeover proposed by Evolution Group would see it take over small- and mid-cap stockbroker Beeson Gregory in an all-share deal valuing BG at more than £90m.
Evolution bought a 22% stake in IFA Inter-Alliance earlier this year, with an option to take its ownership to just below 30% - the point where takeover rules force a bid to be made - but it is not clear how the new merger will affect its dealings in the IFA sector.
Evolution's chairman Alex Snow said at the time of the Inter-Alliance deal in January that it formed part of the firm's core strategy of becoming a leading investment bank to mid-cap companies with an additional focus on asset management.
The latter is already done through the Christows Group, which merged with Evolution Capital last year to create Evolution Group.
Inter-Alliance provides a distribution channel for Christows managed products.
Beeson Gregory's strengths are in stockbroking for small and mid-cap companies as well as analysis of companies in the FTSE 350 and 250 indices.
Evolution may use this boost to its stockbroking side to provide Inter-Alliance's customers with access to new data and services related to equities investments, as well as boost the research strengths behind investment decisions made by Christows asset managers.
Reasons to be cheerful
Total investment reaches £9m
Medium to long-term capital growth