Investment platform provider FNZ has taken a stake of 9.1% in the diverse financial services group Embark as part of a five year commercial partnership extension.

Embark Group, owner of a number of SIPP firms including Rowanmoor and Hornbuckle, has acquired the assets of Liberty SIPP as Liberty faces legal challenges over past SIPP business.

Liberty SIPP has reported revenue up by a third and assets under management up to nearly £3bn.

Investors have launched legal action against Liberty SIPP over allegations it cost them money through risky investments.