Fund research company RSMR has added propositions from Brewin Dolphin and Quilter Cheviot to its list of rated Discretionary Fund Managers (DFMs).

A Chartered Financial Planning firm has sold its DFM arm.

The much rumoured takeover of Quilter Cheviot by Old Mutual Wealth, which had been played down over the last month by the two companies will indeed go ahead, it was confirmed this morning.

Both companies at the centre of a reported £650m takeover bid this morning have refused to comment on the speculation.