Three fund management groups have injected £39.4m into the retirement and SIPP provider Embark Group to help fund growth and acquisitions.

Aegon is shaking up its senior manager team, amid the integration of Cofunds and BlackRock’s UK Defined Contribution platform and administration business.

A surge in iShares ETF interest from financial advisers and US investors has produced a record £182 billion in new inflows for the company in 2017.

BlackRock, one of the world’s biggest fund managers, has taken a 5% stake in growing Financial Planning group AFH which has acquired over a dozen advisory firms this year.