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.
HMRC has widened the range of investments available through ISAs to include peer-to-peer lending trusts.
As much as £400bn could be held in 'dinosaur' funds, according to Hargreaves Lansdown, as investor inertia sees cash left languishing in stagnant products.
How ITs can fill a void in the pensions landscape
'Wealth managers are at the mercy of fund managers on costs'
The pensions and ISA regimes should be unified as the next logical step in the evolution of UK savings culture, Michael Johnson has said.
Chancellor George Osborne has announced a 'radically more flexible' ISA system in his 2015 Budget, as part of a savings overhaul seen as being beneficial to the investment industry.