Investment General

The financial planning arm of insurance consultants Jelf Group has reported a small loss for the six months to the end of March, as the company invests in preparing for the Retail Distribution Review (RDR).

Wells Capital has acquired fellow discretionary firm Reeves Investment Management in a deal which increases its assets under management by more than £50m.

Skandia Investment Group (SIG) has opened up its Spectrum Select client reporting service to more advisers.

Wealth manager and pensions consultancy Mattioli Woods is preparing for the launch of a discretionary portfolio management service after securing investment permissions from the FSA.

Just 0.1% of Merchant Capital clients owed money by Pritchard Stockbrokers will not be covered by the Financial Services Compensation Scheme (FSCS), according to Pritchard's administrators Mazars.

UBS shareholders including F&C are set to rebel against the Swiss bank's proposed pay packages for its top executives, echoing the moves taken by Barclays shareholders last week.

Advisers should review the way they discuss risk with clients according to research which suggests many consumers do not have a proper awareness of the potential downside of their investments.

Lloyds Banking Group has set aside an extra £375m to cater for an influx of compensation claims related to the mis-selling of payment protection insurance (PPI).

FIVE THINGS

Some Barclays shareholders are expected to vote against the pay of its top executives at the bank's annual general meeting on Friday.