Wealth Management

Debt-laden network Sesame has been given access to a £45m bailout fund by its parents Aviva and Friends Life.

Former Old Mutual bond manager Stewart Cowley has launched a new venture providing investment advice and portfolio management to advisers and fund groups.

J.O. Hambro Capital Management's Clive Beagles has opened new positions in wealth managers and increased exposure to certain banks in his £2.9bn UK Equity Income fund.

Brown Shipley has acquired financial planning business Hampton Dean for an undisclosed amount.

Wealth manager European Wealth has completed the £3m acquisition of IFA business ISM Solutions it announced in its annual results in May.

Hargreaves Lansdown has agreed to acquire £370m of assets from J.P. Morgan Asset Management for an undisclosed amount, as the latter ceases to offer certain direct investments to individual clients.

Wealth managers are being trapped in the tricky position of responding to nervous clients' demands to hike cash weightings in portfolios, while at the same time trying to meet their growing income requirements.

Wealth management firm Myddleton Croft has promoted former BNY Mellon/Newton retail sales head Julie Jones to managing director, as chief executive David Cowell moves to a chairman role.

Wealth manager Towry is again considering plans for an initial public offering, according to reports.

UK wealth management firms would see more benefit from an interest rate rise than any other companies in the financial sector, according to research from Liberum Capital.