The Competition and Markets Authority has provisionally blocked the ‘mega-merger’ of platform providers FNZ and GBST due to concerns that the tie-up would hit competition and may lead to investors paying more.

Smith & Williamson has made 22 senior promotions as it prepares for its £44bn merger with Tilney set to create one of the UK’s biggest wealth management and Financial Planning firms.

Private equity firm Warburg Pincus has stepped in to get the £45bn tie up between wealth managers Tilney and Smith & Williamson back on track.

The Competition and Markets Authority is set to rule on the merger of the FNZ / GBST platform engines by the end of March.