True Potential is in the news again. The offer from Cinven (a UK-based Private Equity firm that has raised over £37bn in over 40 years of operations) has been accepted and the price tag being talked about is in the region of £2.4bn. That's a lot of money. But what's more they plan to grow the business over the next three years and IPO it at a market valuation of c£5.5bn.
Our CEO, Bella Caridade-Ferreira, sat down with Abraham Okusanya to record a podcast for Retirementals. In this episode, they discuss the journey that led to the creation of Fundscape, future aims for Finscape, Fundscape's joint venture with Altus, and her approach to saving for retirement.
The FCA has launched a consultation called A new Consumer Duty. This post covers the reasons why the Regulator feels the new consultation is required, its areas of focus and explains why we believe all firms involved in the manufacture or supply of products and services to retail clients, should engage positively with the consultation, even if they do not have a direct relationship with the end customer.
Our CEO, Bella Caridade-Ferreira, sat down to take part in an industry podcast with Octo Members. Octo is the first app-based private community for UK financial services professionals, where advisers, fund managers, wealth managers and professional consultants can come together to share knowledge and best practices.
After a couple of months of speculation, M&G has reached an agreement with Royal London to purchase its platform, Ascentric. The deal, subject to FCA approval, brings £14bn of assets and over 90,000 clients to the M&G, in what seemed at first like an oddly timed move.
Hargreaves Lansdown published its interim results on Friday. Chris Hill, CEO, stated that the platform will be introducing changes to its research process with the aim of providing more detail and greater transparency. There will also be new functionality for customers who want a deeper, more autonomous dive into fund research.