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AJ Bell confirms plans for £500m London float

Platform and SIPP firm AJ Bell has confirmed plans for a float on the London Stock Exchange next month with the company valued at up to £500m.

Major shareholders Invesco Perpetual and chief executive Andy Bell will have an opportunity to sell down their stakes in the business while broadening the firm’s shareholder base.

Invesco currently has a 44 per cent stake which it is expected to sell down to around 25 per cent.

Mr Bell holds 28 per cent of the business and is expected to retain around a quarter.

AJ Bell says the float would enhance its brand, extend its shareholder group, assist in recruitment and incentivisation and help with its growth strategy.
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No further action over arrested SIPPs firm chief exec

Police have ended their investigation into STM chief executive Alan Kentish, who was arrested in Gibraltar in October 2017, with no further action.
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Experts welcome DWP consultation on DB pensions consolidation market

XPS Pensions Group has welcomed a proposed consultation from the Department for Work and Pensions (DWP) on DB pension scheme consolidation.
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Work and Pensions Secretary Esther McVey resigns over Brexit deal

Work and Pensions Secretary Esther McVey has quit the Cabinet over Prime minister Theresa May’s Brexit deal.
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SJP Academy celebrates new Financial Planning graduates

SIPP-provider St. James’s Place Wealth Management has welcomed another 41 qualified advisers to a new career in Financial Planning.
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  1. JP Morgan confident about long-term outlook
  2. AJ Bell boosts profits to more than £28m ahead of IPO
  3. SIPP provider cuts cost of in-specie property transfers
  4. Investment management and platform firm launches new SIPP

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