One of the authors of a new global wealth management report believes that the Covid-19 outbreak could have a “profound” impact on the UK wealth management sector which has flourished in recent years.

The growing Financial Planning firm Independent Wealth Planners (IWP) has made another acquisition in the South West with Westinsure Webb Financial Services joining its regional hub, Kelsall Steele Investment Services.

Almost £10bn was transferred out of defined benefit pensions in the final quarter of 2019, according to official data.

Keith Skeoch is to step down from the board of Standard Life Aberdeen after five years as group chief executive and fourteen years as a director.

Financial Planning Group Truinvest made its first two acquisitions since its formation last year and said that more acquisitions are to follow. 

Wealth manager Charles Stanley has appointed former Brown Shipley chief executive Ian Sackfield as managing director, investment management services (branches) to lead the firm’s 20 regional offices.

Chartered Financial Planner Telford Mann is planning to recruit seven more staff this year as it steps up recruitment.

Industry veteran Bambos Hambi has been appointed chief executive of Quilter’s multi-asset investment business Quilter Investors.

Channel Island-based investment services group Ravenscroft, which has £7.45bn in Assets Under Management, has bought the Isle of Man subsidiary of WH Ireland.

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.