Wealth manager Tilney has cut the number of third-party funds held in portfolios from 70 to 30 due to "mediocre" performance by many active managers.
Chief investment officer Chris Godding (pictured), who joined Tilney a year ago, said the decision had been taken to eliminate "the low-hanging fruit" from portfolios. The move was also driven by Tilney's...
Due to leave on 31 May
To repay £900,000 to customers
Inflation above 2% for first this this year
Four new entrants
Raising the group's profile in the UK