The FCA confirmed today that it will consult on better protection for investors when Special Purpose Acquisitions Companies (SPACs) are used as takeover vehicles.

James Hay is set to acquire rival platform Nucleus via a recommended cash takeover offer, a change of tack from its original plan of using a scheme of arrangement.

Chartered Financial Planning-focused wealth manager Fairstone has acquired Glasgow-based financial adviser Chartermarque.

EQ Investors’ CEO John Spiers has become non-executive chair of the company he built, paving the way for the appointment of 3 long-standing colleagues to become CEOs to replace him.

Financial services and SIPP group STM, the owner of the London & Colonial and Options SIPP businesses, has sold some of its Gibraltar-based businesses for just over £3m.

Financial Planner and wealth manager Tavistock has criticised an unexpected and unwelcome takeover offer from a new company as undervaluing the business and providing little benefit.

Parmenion, the platform acquired for £102m last week, is to invest in its own proprietary technology rather than follow other platforms in using third party ‘platform engine’ providers such as FNZ.

London-based MWA Financial has acquired Prosperity Financial Advisors & Stockbrokers of Hampshire as part of a strategy to become a national IFA firm.

SimplyBiz Group, the adviser support company, has rebranded as Fintel following its acquisition of fintech Defaqto and a greater focus on financial technology.

Quilter says it will cut a “small number” of “restricted Financial Planners” following a dip in profits.