Wealth Management

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.

Charles Stanley has promoted head of digital marketing and communications Magnus Wheatley to managing director of its D2C business Charles Stanley Direct.

Mattioli Woods is to acquire advice firm Boyd Coughlan in a £7m deal and has also announced plans to raise a more than £18m from shareholders to fund further growth.