Wealth Management

Brooks Macdonald has seen an increase in its funds under management over its financial third quarter, driven by new discretionary business.

Pensions reforms, underserved areas of the market, and economies of scale are driving more investment managers to broaden the type of wealth management service they offer clients.

Wealth manager London & Capital has hired Towry's general counsel Thomas Donlon in a bid to manage regulatory change and drive business growth.

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

Charles Stanley shares have climbed 3% in afternoon trading after the wealth manager announced a plan to sell Charles Stanley Financial Solutions to its management team.

Wealth management group Towry saw profit more than halve in 2014 as a result of costs relating to acquisitions and "various issues" following discussions with the regulator.

The start of 2015 has proved to be a busy few months for the wealth management space as firms make acquisitions, hires and expansion plans. Investment Week rounds up the stories you may have missed.

Brewin Dolphin has been named as a prime candidate to join the wealth management M&A merry-go-round by broker Liberum Capital.

Charles Stanley is to raise £15.8m through a share placing as part of plans to "modernise" and refocus the business following a strategic review.

Old Mutual group chief executive Julian Roberts is to step down in the fourth quarter of 2015, to be replaced by Standard Bank executive Bruce Hemphill.