Aviva

Aviva has agreed to buy Friends Life for £5.6bn in a deal that will create the UK's largest insurance, savings and asset management firm.

Aviva is to pay compensation to tens of thousands of investors in one of its funds who were erroneously led to believe their capital was protected.

Advisers' investment processes: A video debate

‘Why oh why would Aviva want to takeover Friends?' Industry reacts to deal talk

Clive Cowdery, the former head of Resolution and major shareholder at Friends Life, is set to walk away with £160m from the £5.6bn takeover deal announced on Friday.

UK equity managers are turning to insurers as a way to access the UK's financial sector while avoiding the troubled banks.

Aviva has confirmed it is to buy rival insurer Friends Life in a deal worth £5.6bn which will create a combined business with 16 million customers.

Advisers are less interested in developing online advice solutions for their clients than they were six months ago, research suggests.

Platforms are stepping up their white-label investment offerings to advisory firms as an increasing number of orphaned clients presents a growing challenge in the run-up to the 2016 legacy commission ban.

All seven product providers featured on Sesame's ‘focussed' restricted advice panel have denied breaching the regulator's rules on inducements, after the network was fined £1.6m for selling the coveted spots to the highest bidders.