Wealth Management

Brooks Macdonald has launched five new risk-rated portfolios, doubling the number of strategies in its managed portfolio service (MPS).

Consolidator AFH Financial has acquired Kidderminster-based advice firm K.L. Plester Financial Services for £1.7m.

Brooks Macdonald Asset Management has appointed Vestra Wealth's Jim Mackie as an investment management director.

Last week, Neptune announced an overhaul of its research and business operations following disappointing fund performance in recent years.

Growing concern over co-investor risk is leading some buyers to turn away from pooled vehicles entirely in a bid to reclaim control of their investments.

The partners of Seven Investment Management (7IM) are considering selling the business, according to reports.

Standard Life has bought advice firm Pearson Jones from Skipton Building Society as it moves to capitalise on the demand for pensions advice.

The chief executive of national IFA Ashcourt Rowan has talked of the importance of scale in wealth management as the company awaits regulatory approval for a near-£100m takeover by Towry.

IFA consolidator AFH Financial has acquired the assets of two advisory businesses, adding £55m in client funds.

Towry is to acquire Ashcourt Rowan in a £97m deal which will see the latter's CEO Jonathan Polin exit the firm.