Adviser / Broking

Wealth manager Towry has agreed a £70m refinancing deal which will reduce its cost of capital and give it cash for acquisitions.

Towry's chief executive Andrew Fisher is to leave the firm, with former Prudential UK chief Rob Devey to take over the role.

Financial advisory businesses will contribute £68m to the Financial Conduct Authority's funding requirement for 2014-2015, a near-19% reduction on last year following a re-working of the regulator's fee blocks.

Ensuring direct-to-consumer (D2C) platforms do not stray into advice has become an "obsession" that is ultimately stunting innovation, a report has concluded.

UK platform Skandia has reported profits of £13m in 2013, up from £2m in 2012, after net inflows of over £2bn last year.

A private equity firm has bought a majority stake in national financial advisory business Succession.

Bristol based discretionary investment firm, R C Brown Investment Management (RCBIM) has recruited the team that managed the ‘Signature' investment proposition for Rowan Dartington.

Network Pi Financial has lost another case at the Financial Ombudsman Service (FOS), this time over advice one of its appointed representatives gave to a World War II veteran to invest £90,000 in an unregulated collective investment scheme (UCIS).

Former Charlton Athletic FC footballer Richard Rufus, who later began a career as a 'financial consultant', has been declared bankrupt.

A couple is pursuing national IFA firms Positive Solutions and 2plan Wealth Management for what they claim was negligent advice to invest in high risk unregulated investments - including using money they had received from a critical illness (CI) payout....