Financial Planner and wealth manager Tavistock has criticised an an unexpected and unwelcome takeover offer from a new company as undervaluing the business and providing little benefit.

Parmenion, the platform acquired for £102m last week, is to invest in its own proprietary technology rather than follow other platforms in using third party ‘platform engine’ providers such as FNZ.

London-based MWA Financial has acquired Prosperity Financial Advisors & Stockbrokers of Hampshire as part of a strategy to become a national IFA firm.

SimplyBiz Group, the adviser support company, has rebranded as Fintel following its acquisition of fintech Defaqto and a greater focus on financial technology.