Investec Wealth & Investment has launched a private office to expand its services for high net worth clients.

The FTSE 100 index moved back above 7,000 this morning after the Chinese central bank announced stimulus measures to prop up its economy.

FE Trustnet is to launch a ratings system of passive funds for retail investors, ranking ETFs and index trackers alongside each other for the first time.

Close Brothers Asset Management has acquired financial planning firm Mackay Stewart & Brown.

Wealth managers have been reducing allocation to equities in favour of convertible bonds as a hedge against volatility, following a strong run higher for equity markets.

The Financial Conduct Authority (FCA) has fined BNY Mellon £126m for failing to comply with rules ensuring the safe custody of client assets.

Mark Dampier, head of research at Hargreaves Lansdown, has sold nearly £900,000 worth of shares in the company after exercising share options.

Ashmore has seen further outflows during the first quarter of the year, as investors continued to take money out of emerging market products.

The Financial Conduct Authority (FCA) has warned of a scam firm using the details of investment manager BlackRock to defraud investors.

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