Talks signal end of line for Vector

Dealer group Vector Financial Consultants is in discussions with part owner FSP Group about dissolving the Vector brand and bringing the group’s 28 advisers under the FSP banner.

Geoff Rimmer, managing director of FSP Group’s Financial Services Partners dealer, is now also managing director of Vector, resulting in the departure of Peter Fysh, Vector’s acting general manager. Fysh has taken up a new role at Axa Financial Planning. According to Rimmer, no decisions have been made, although Vector and FSP have entered a shared services agreement. “We’re in discussions about bringing Vector under the FSP brand, which is consistent with our strategy to bring all the interests of the FSG Group into one line,” Rimmer said. “Peter was effectively general manager of Vector and he has done a good job. We won’t be replacing him.” Fysh joined FSP in January 2004 after previously being with ING dealer RetireInvest. Vector was established in 2003 with 11 high profile former Godfrey Pembroke advisers, under the guidance of Rob McTaggart.

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Canada establishes new SWF amidst global push for nation-building investment

Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.

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