Insurance

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

Alan Custis and Alan Clifford have stuck with insurers amid early signs the sector is rebounding from the sharp falls sparked by Chancellor George Osborne's move to change the pensions landscape.

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.

Resolution is in talks over a possible sale of its European private and corporate client wealth planning division, Lombard.

Aviva Investors is to cut 6% of its workforce around the globe as part of parent company Aviva Group's major cost-cutting plans.

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