Rathbones CEO: We'll avoid industry's adviser takeover mistakes

Rathbones to buy out Vision Group

Rathbones Unit Trust Management's chief executive Mike Webb (pictured) said he will not repeat fund manager's past mistakes in the adviser takeover arena with his firm's purchase of financial advice network Vision Group.

Rathbones plans to buy the remaining 80% stake it does not yet own in the Vision Group, an independent financial advice network, and its compliance and admin provider Castle. The purchase, which is subject to regulatory approval, adds Rathbones to the list of fund managers and life companies that have recently snapped up adviser businesses. Rathbones drives growth with HNW firm acquisition Standard Life, Old Mutual Wealth, platform Novia, and Aviva have all bought their way back into distribution of late. Banks are also looking to return to the market, with Santander revealing last ...