Mercer to acquire Fundhouse and strengthen UK wealth management presence

Fundhouse, provider of investment advisory and model portfolio services to financial advisers and wealth managers, will not have its South African business included in the transaction. The deal aims to expand Mercer's presence in the UK's wealth management sector while providing Fundhouse's clients with access to its own range of global investment research.  Fundhouse holds £2.1bn in assets under management. Its CEO and chief investment officer (CIO) Rory Maguire said: "In our new home at Mercer, we are aligning with a firm that shares our founding principles of deep fund research and...