Derek Stuart, one of the UK’s best known fund managers and a founder of Artemis Investment Management, is to step back from co-managing one of its leading funds to spend more time on charity work. He has been a manager of the Artemis UK Special Situations Fund since its launch in 2000. He will hand […]
Morningstar to rename Praemium after £35m takeover
Financial research and investment management company Morningstar is to rename Praemium as the Morningstar Wealth Platform after its £35m acquisition of the formerly Austrlian-owned platform. Praemium has sold its operations in the UK, Jersey, Hong Kong and Dubai to Morningstar. The deal adds more than 100 new staff to Morningstar who will move across from Praemium’s UK and […]
New RIA? Time to prep for an SEC audit
NS&I Green Bond pulled in £228m
NS&I’s new Green Bond pulled in £228m, according to the government-backed savings body’s Annual Report for 2021/2022. The amount raised helped NS&I deliver £4.4 billion of net financing to the government over the past year. NS&I said Green Savings Bonds, which help raise funds towards tackling climate change, were “successfully launched” although critics said the […]
NS&I Green Bond pulled in £228m
NS&I’s new Green Bond pulled in £228m, according to the government-backed savings body’s Annual Report for 2021/2022. The amount raised helped NS&I deliver £4.4 billion of net financing to the government over the past year. NS&I said Green Savings Bonds, which help raise funds towards tackling climate change, were “successfully launched” although critics said the […]
Innovation Open Day to be held at FCA HQ
The FCA is to hold a tech-focused Innovation Day at its London HQ in July to showcase what it is doing to nurture new financial technology developments. The regulator said the day will “showcase what’s next for our innovation agenda.” The day will feature a mixture of keynotes, panel sessions and presentations, as well as […]
FINRA orders National to pay $9M in latest alternative product case
Hargreaves Lansdown makes move into Open Banking
Hargreaves Lansdown has added a ‘pay by bank’ service as its first move into Open Banking. A solution from Ecospend will allow Hargreaves Lansdown clients to make secure payments directly to the investment platform without the need for cards. The investment platform said it plans to adopt more Open Banking services in the future. George […]
Novia assets rise 6% under new ownership
Adviser platform Novia saw a 6% rise in assets under administration for the year ended 31 December 2021. Total assets under administration were £8.95bn at year-end, an increase of £533m. Revenues rose 14% to £27.8m (2020: £24.3m). Adjusted EBITDA (a measure of profitability) rose 31% to £6.7m. Novia Financial was acquired by private equity firm […]
PFS challenges FCA approach to British Steel compensation
The Personal Financial Society (PFS) has asked the Financial Conduct Authority (FCA) to reconsider its plans for assessing the amount of compensation owed to British Steel pension scheme (BSPS) members. It has asked the regulator to ditch plans to mandate lump sum compensation. The professional body said lump sum compensation does not address the central […]