Fintel’s new chairman Gary Hughes has stepped down for personal reasons after only six months in the role, with former chairman and founder Ken Davy returning as interim chairman.

Wealth manager and Financial Planner Kingswood made a pre-tax loss of £3.7m in the first half of the year due mainly to the £4.1m cost of acquisitions in the period, the firm reported today.

Private equity firm Oaktree has acquired Sanlam Wealth UK from its South African parent company for £140m.

London-based SIPP and SSAS consolidator Wilton has signed a deal to acquire SSAS firm Bespoke in the latest move in a rapid acquisition drive. 

Life and pensions consolidator Chesnara is to acquire Sanlam UK's Life & Pensions arm (SLP) for £39m.

Fund and wealth manager M&G has promoted Clare Bousfield to be its first managing director, retail & savings, to lead the expansion of its new M&G Wealth arm.

Private equity firm Cinven is to acquire one of the UK’s largest financial advisory firms, wealth manager True Potential.

Sky News is reporting that private equity firm Cinven is close to sealing a deal to buy North East-based wealth manager and Financial Planner True Potential.

David Ferguson, CEO and founder of adviser platform Nucleus, is to step down from the company following its takeover by rival James Hay.

Wealth manager and SIPP provider Mattioli Woods has completed its delayed takeover of £1.6bn AUM Ludlow Wealth Management Group.