Financial Planner and wealth manager Tavistock Investments is to launch a new hybrid advice service using AI technologies to reach many more people and lower the cost of advice. 

IntegraFin Holdings, the parent company of adviser platform Transact, has today reported full year profits up 7% to £75.4m thanks to strong growth in earnings.

Investment manager and IFA support firm Tatton Asset Management said operating profit climbed more than a fifth, 20.94%, to £13.111m, in the six months to the end of September.

Fintech and adviser support services firm Fintel, owner of SimplyBiz and Defaqto, said group revenue increased by 18.6% to £42.4m in the six months to the end of July.

Retirement savings app PensionBee said it saw assets under administration climb 21% to £6.3bn in the six months to the end of June.

Salford-based financial adviser and professional services firm Frenkel Topping - which is in discussions over a £68m takeover bid by private equity firm Harwood - said funds under management grew to £1.63bn in the first six months of the year, up from £1.46bn in the first half of 2024.

Jupiter Fund Management saw assets under management rise by 4%, climbing £1.8bn to £47.1bn in the first six months of the year.

National IFA Continuum, owned by M&G, saw a 17% increase in assets under influence year-on-year to £2.6bn in the first half of the year, it has revealed in its financial results.

National IFA Chase de Vere has reported a 24.2% rise in pre-tax profits to £31.9m for 2024, up from £25.7m the previous year.

Adviser platform business Wealthtime reported a 4% increase in AUA from £8.9bn to £9.2bn in the year to the end of December, despite challenging markets.

Investment manager and IFA support firm Tatton Asset Management said pre-tax profits climbed more than a quarter, 28.9%, to £21.596m, in the year to the end of March.

M&G plc plunged into an IFRS loss after tax of £347m last year after making a profit of £309m the previous year, it reported in 2024 full year results today.

Fintech and adviser support services firm Fintel, owner of SimplyBiz and Defaqto, said statutory profits climbed 6.3% to £15.3m in 2024 as revenue climbed.

Revenues at Jersey-based wealth manager Team almost doubled in the year to September, climbing from £5.3m to £10.3m but despite this the firm posted a £1.6m loss (2023 profit £0.7m).

Net flows at Aviva’s wealth arm climbed 23% in 2024, rising to £10.3bn from £8.3bn, as assets under management grew 17% to £198bn, from £170bn.

Wealth manager St James’s Place returned to profit last year after introducing a simpler and more comparable charging structure following customer complaints.

Integrafin, the parent company of adviser platform Transact, has reported record funds under direction on the platform of £64.1bn for the three months to the end of September.

Investment and wealth manager M&G is to exit the digital platform market and will merge its life and wealth divisions in a major shake up for the company.