City of London-based Partners Wealth Management has completed the acquisition of Aberdeen-based Johnston Carmichael Wealth for an undisclosed sum.

Pension provider Aegon has partnered with offshore bond provider Utmost Wealth Solutions Ireland to enhance its Financial Planning solutions, it said.

Revenues at Jersey-based wealth manager Team almost doubled in the year to September, climbing from £5.3m to £10.3m but despite this the firm posted a £1.6m loss (2023 profit £0.7m).

There’s a wide gap between the communication methods used by wealth managers and those preferred by clients, according to new research.

The sale of Close Brothers Asset Management (CBAM) to private equity firm Oaktree Capital Management for £200m has completed, with the new owner planning to create a leading, yet-to-be-named independent wealth manager.

A 46-year-old man, Olumide Osunkoya, has been jailed at Southwark Crown Court today for four years for running illegal crypto ATM activity said to be worth over £2.5m.

It’s a shame to admit it, but fear is clearly driving demand for Financial Planning advice in some quarters.

The news this week that the FCA has axed a requirement for the boards of regulated firms to have a dedicated Consumer Duty Champion - only introduced 18 months ago - was met with some raised eyebrows.

There was a distinct whiff of change in the regulatory air this week with the FCA rapidly jettisoning plans which would have seen more rules and regulations added to its handbook.

There is a major force reshaping pensions and it is unstoppable, it’s called demographics and it will require the pensions industry to rethink everything it does.