News

Canada's Bank of Montreal (BMO) has agreed a deal to buy F&C for £708m in cash.

Invesco Perpetual's Mark Barnett is to become manager of the £1bn Edinburgh investment trust as of today, taking over from Neil Woodford ahead of the latter's forthcoming move to Oakley Capital.

There exists a "nervousness" in the professional indemnity insurance (PII) market which could force more IFAs to offer restricted advice, according to Prudential distribution change director Russell Warwick.

The Financial Ombudsman Service (FOS) has said it will take into account good practice at the time an annuity was sold when judging complaints as it highlighted the variety of grievances it handles.

Mattioli Woods has reported an increase in both group revenues and profits as the effects of rule changes brought in following the Retail Distribution Review (RDR) boosted its wealth management division.

Liberty SIPP is freezing its annual management charge for two years in a bid to win customers ahead of increased SIPP capital adequacy requirements.

F&C shares have jumped by more than 20% after the group said it has received a takeover approach from Canada's Bank of Montreal (BMO).

J.P. Morgan Asset Management is to launch an onshore version of its Luxembourg-domiciled America Equity fund, with the OEIC made available to UK investors from 31 January.

The Financial Services Compensation Scheme (FSCS) has started to process advice related claims regarding failed loan advice firm Welcome Financial Services Limited (WFSL).

Financial advisers are expected to fork out £31.5m in compensation to clients who invested in the CF Arch Cru Investment and Diversified funds (Arch Cru) and were found to have received unsuitable advice.