Financial services and SIPP group STM, the owner of the London & Colonial and Options SIPP businesses, has sold some of its Gibraltar-based businesses for just over £3m.

Financial Planner and wealth manager Tavistock has criticised 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.

Quilter says it will cut a “small number” of “restricted Financial Planners” following a dip in profits.

Private equity firm Preservation Capital Partners has today acquired the Parmenion platform from owners Standard Life Aberdeen for "up to £102m."

Flat fee investment platform Interactive Investor (ii) is to acquire acquire the direct-to-consumer retail customer book of rival EQi for up to £48.5m.  

Wealth manager Tilney Smith & Williamson has acquired Surrey Financial Planner HFS Milbourne which has approximately £450m of client assets under influence.

Financial Planning-focused adviser group AFH Financial has temporarily suspended trading in its ordinary shares on the AIM index pending an announcement from the business.