Ignition Advice UK, the fintech helping M&G Wealth launch a hybrid digital advice service, has appointed former FNZ CEO Paul McMahon to its board as a non-executive director.

The Competition and Markets Authority has provisionally found that platform engine FNZ’s £150m purchase of rival GBST would raise “significant competition concerns” following a review of the deal.

Platform engine FNZ has submitted a detailed case document against the Competition and Markets Authority’s order to sell off its recent acquisition and rival GBST.

Assets on platform engine provider GBST’s Composer wealth management administration platform increased by 12% to £150bn in 2020.