Wealth Management

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.

Walker Crips is planning for further expansion by seeking out employees at rival firms who are "disenchanted" by industry merger and acquisition activity.

The Financial Conduct Authority (FCA) has defended the methods it uses to calculate advisers' contribution to its annual costs as fair and proportionate, as it confirmed a 10% hike for firms for 2015-2016.