Former Old Mutual vice-chairman and Skandia CEO Peter Mann has launched a new IFA firm consolidator, Radiant Financial Group, with insurance industry heavyweight Simon Cogman-Hellier.

Global private equity group Carlyle is set to buy the three-year-old, acquisitive Financial Planning firm Harwood Wealth Management for £90.7m in a recommended cash deal.

Guardian, the protection insurance challenger focused on financial advisers, has made 12 staff redundant and a “small number” of other redundancies are being considered.

Acquisitive Financial Planner and discretionary manager Harwood Wealth Management has reported a 74% rise in pre-tax profit to £1.63m in its half year interim results out today.