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Transact is to cut some of its charges in April with annual commission charges and buy commission charges both reduced.

Tilney Smith & Williamson is following rivals by removing VAT from its Managed Portfolio Service propositions.

Pensions and investment planning software firm Selectapension has been acquired by the Perseus operating group of Canadian technology company Constellation Software.

Private equity firm AnaCap Financial Partners has acquired Novia, the £8bn adviser platform and SIPP provider.

Warrington-based LJ Financial Planning has been fined £107,200 by the Financial Conduct Authority (FCA) for providing its customers with unsuitable pension switching and transfer advice and failing to manage its conflicts of interest.

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