- Aviva has acquired a majority stake in the robo-adviser, Wealthify, for an undisclosed sum. The robo-advisor, which offers retail investors access to a number of savings and investment plans will be integrated into Aviva’s online portal MyAviva
- Barclays has experienced a technical glitch at its new ‘Smart Investor’ online stockbroking service. The glitch has resulted in private investors with shares in some of the FTSE’s largest income stocks having to wait weeks for dividend payments into their
- Charles Stanley has launched a range of risk-graded funds on its retail investment platform, Charles Stanley Direct. The five multi-asset funds are the MI Charles Stanley Multi Asset 1 Defensive, 2 Cautious, 3 Moderate, 4 Growth and 5 Adventurous. The funds will be actively managed by the firm’s specialist asset management team
- Fidelity is to start talks with the boards of the investment trusts it runs in a bid to convince them of the merits of its new performance-linked charging approach. Under the new charging structure, known as a ‘fulcrum fee’, Fidelity will reap higher fees where its funds outperform their benchmarks, while investors will pay lower costs if their funds deliver returns in line with the benchmark or below
- Fidelity is to start talks with the boards of the investment trusts it runs in a bid to convince them of the merits of its new performance-linked charging approach. Under the new charging structure, known as a ‘fulcrum fee’, Fidelity will reap higher fees where its funds outperform their benchmarks, while investors will pay lower costs if their funds deliver returns in line with the benchmark or below
- Nutmeg has filed accounts showing a £9.3m loss for 2016, up from £8.9m in 2015. Turnover rose by almost 50% from £1.72m to £2.56m. At the end of the year, Nutmeg managed around £600m in assets under management on behalf of 25,000 clients. SCM Direct has published a blog post criticising Nutmeg’s business model, following the publication of the losses at the robo-adviser
