News

AXA Investment Managers has hired former J.P. Morgan AM manager Bill Healey and former New Star manager Phil Roantree to boost its fixed income team.

The Serious Fraud Office (SFO) is investigating the suspended £120m Axiom Legal Financing fund and its founder Tim Schools, Professional Adviser understands.

The Equity Release Solicitors' Alliance (ERSA) has issued an alert to advisers after it became concerned more could be advising consumers on the products "not fully aware of the requirements".

Standard Life Investments has cut fund manager jobs across 15 Ignis equity funds after handing the portfolios to its own managers following its takeover of the group.

IFA acqiurer Bellpenny has added more than 1,000 active clients and some £108m in funds under management after acquiring Glasgow IFA Reid, Scott & Ross.

Online wealth manager Nutmeg is aiming to treble its user base in the coming months as it seeks to get up to scale after posting a loss for 2013.

Wrap platform Novia has formed a strategic partnership with Tavistock by teaming up with Cocoon Investments to acquire a £250,000 stake in the business.

Sanlam Private Investments Wealth Management, the financial planning arm of Sanlam Private Investments (SPI), recorded a loss of more than £340,000 for 2013, its financial results show.

Lighthouse Financial Advice, the middle market unit within national adviser Lighthouse Group, has extended a contract to provide advice to members of a motoring and leisure club for a further three years.

A solicitor who masterminded the now collapsed £120m Axiom Legal Financing fund has been struck off for "serious and continued" misconduct at one of the main law firms that received money from the fund.