Advisory

Charles Stanley is in exclusive talks to sell its securities business to stockbroker Panmure Gordon, putting an end to rumours US firm Stifel Financial was the likeliest buyer.

IFA consolidation business AFH has bought Clarendon Financial Solutions for £461,000.

Tavistock Investments has bought IFA Sutcliffe Solloway Financial Planning and its parent Cornerstone Asset Holdings.

Restricted network Sesame has said it will no longer offer an appointed representative (AR) option for investment advisers.

Changes to regulatory authorisation procedures is to affect the acquisition-led strategy of wealth firm consolidator AFH Financial, the company has said.

Charles Stanley is to offload its securities business, with the likes of Cantor Fitzgerald and Panmure Gordon set to be beaten to the deal by US firm Stifel Financial.

The term ‘robo-advisor' has been around in the US for the past six or seven years. It usually refers to online investment management sites that run portfolios through unique algorithms or, to put it another way, take the human element out of investing....

Adviser consolidator Succession Group has bought tax planning and investment firm Cassidy Coutts, adding £50m to its funds under management.

Restricted advice group Towry is evaluating its house view on structured products and investment trusts following its acquisition of national IFA Ashcourt Rowan, in a move which could see the combined business registered as independent.

Shares in wealth management group St James's Place (SJP) rose almost 5% in early trading on Wednesday, after it reported a near-30% rise in profits last year despite a negative contribution from its distribution business.