News

The Financial Ombudsman Service (FOS) has ruled advisers could not reasonably have known Lehman Brothers was in financial turmoil when they recommended clients invest in structured products to which it was counterparty, in a trio of rulings.

The St James's Place UK High Income fund and two other portfolios have become the latest to exit the IMA UK Equity Income sector for failing to meet yield requirements.

Support services provider Simplybiz has seen a 10% increase in profits in the first year post-Retail Distribution Review (RDR) while 2% of its members have left the industry.

Schroders has hired two listed real estate managers from Australia's AMP Capital to create a new property team as it takes over the Investors in Global Real Estate trust.

Asian indices hit a fresh six-year high this morning after positive manufacturing data helped lift sentiment.

Revenue at wealth manager and employee benefits business Mattioli Woods grew by a quarter in the past 12 months, latest figures show.

IFA and wealth manager Gemini Wealth Management has acquired the pension and investment business from a fellow advisory firm after it shut up shop due to the "increasing costs" put on small firms.

Paul Evans, the group CEO of Axa UK, has been nominated to replace outgoing Association of British Insurers (ABI) chairman Tidjane Thiam.

The owners of a former advisory business are a step closer to facing a £500,000 claim for bad advice after a judge ordered them to disclose documents that could wreck their defence the claim is too old.

Old Mutual Wealth, comprising Skandia and Old Mutual Global Investors, has officially completed its acquisition of advice network Intrinsic, following regulatory approval.