Hargreaves Lansdown has reported a record pre-tax profit of £209.8m for the year to 30 June as it begins to deal with the initial impact of changes to its charging model and falling returns on cash.

Jupiter's James Clunie has been cutting back on a short position in Hargreaves Lansdown ahead of the firm's full year results tomorrow, as he begins to find "many, many ideas" for other companies to bet against.

Last week, the S&P 500 soared past the 2,000 mark for the first time, surprising those who had expected a reversal of some of the 30% gain seen in 2013.

Former Barings trio Percival Stanion, Andrew Cole and Shaniel Ramjee have joined Pictet Asset Management to lead a push into the multi-asset space.

AXA Investment Managers has hired former J.P. Morgan AM manager Bill Healey and former New Star manager Phil Roantree to boost its fixed income team.

Online wealth manager Nutmeg is aiming to treble its user base in the coming months as it seeks to get up to scale after posting a loss for 2013.

Wrap platform Novia has formed a strategic partnership with Tavistock by teaming up with Cocoon Investments to acquire a £250,000 stake in the business.

Threadneedle's Frederic Jeanmaire is to take over management of the group's Pan European Focus fund as lead manager Dan Ison steps back to become deputy.

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