Companies
Fidelity to compensate client for Sipp misinformation
The UK Pensions Ombudsman has upheld a complaint against Fidelity International for “significant distress and inconvenience” suffered by a client who was misinformed about holding investment trusts in her Sipp.
Parmenion and Sanlam launch onshore bond
Discretionary fund manager and platform provider Parmenion has partnered with Sanlam to launch an open-architecture onshore bond.
Zurich sells Openwork stake in early exit
Zurich has sold its 25% stake in Openwork two years earlier than expected, handing majority ownership to the IFA network’s partners.
Property fund slams closure of Serious Fraud Office case
An investigation into allegations of fraud against investment companies operated by Guernsey-based Stirling Mortimer has been closed by the Serious Fraud Office due to insufficient evidence – a decision that has been strongly criticised by the fund house.
Fairstone poised to buy nine IFAs this year
Fairstone is set to acquire IFA firms in Leicester and Stockton-on-Tees and anticipates it will line up seven more acquisitions this year.