Financial Services newsletter Friday 3rd October 2025

Financial Services News

Fintel has launched Omnicore, a standalone distribution platform designed to connect advisers and providers, offering deeper product understanding, strategic support, and innovative solutions like Omni Protect to enhance financial outcomes across the value chain. (Financial Planning Today, 29/9/2025, 'Fintel launches Omnicore standalone distribution platform')
InvestAcc's revenues more than doubled to £6m in H1 2025, driven by organic growth, strategic acquisitions, and a focus on building the UK’s leading specialist pensions administration business, including the upcoming £25m acquisition of AJ Bell’s Platinum SIPP and SSAS business. (Financial Planning Today, 25/9/2025, 'Revenues double for InvestAcc ahead of SIPP acquisition')
Flying Colours, a Berkshire-based Financial Planning firm, launched an in-house investment platform powered by Seccl to enhance efficiency, reduce costs, and support a new lower-cost solution for clients with under £150,000 in investable assets, set to launch in early 2026. (Financial Planning Today, 24/9/2025, 'Berkshire Planner adds in-house investment platform')
WH Ireland has sold its £1m wealth management arm to Oberon Investments as part of a strategic move to exit the market. The firm, which has faced financial challenges, is now beginning the process of winding down its operations, marking a significant shift in its business strategy. (Financial Planning Today, 22/9/2025, 'WH Ireland begins wind down after selling wealth arm')
Royal London and Aviva have been ranked as the top recommended providers for personal pensions and SIPPs in H1 2025, with Royal London leading personal pensions at 29% of adviser recommendations and Aviva dominating SIPPs with 24.1%, according to Defaqto data. (Financial Planning Today, 18/9/2025, 'Royal London and Aviva top private pension recommendations')
True Potential Wealth Management, the Newcastle-based financial advice arm of the True Potential Group, has reported a £242m loss. This significant financial setback highlights ongoing challenges within the business and marks a pivotal moment as the firm reassesses its strategy and operations moving forward. (Financial Planning Today, 18/9/2025, 'True Potential Wealth Management pivots to £242m loss')
New FCA figures reveal an 8.6% rise in pension plans accessed for the first time in 2024/25, reaching 961,575 compared to 885,455 in 2023/24. The surge, particularly in pots over £250,000, coincided with fears of tax-free lump sum changes and the Budget announcement that pensions would fall under the IHT net from April 2027. Over £53bn was withdrawn during the year through drawdown without fully emptying pots. (Financial Planning Today, 16/9/2025, 'FCA figures show surge in pension pots being accessed')
Fintech and adviser support firm Fintel, owner of SimplyBiz and Defaqto, reported an 18.6% revenue increase to £42.4m for the six months to July, with organic growth at 4.2% and SaaS & subscription revenues up 21% to £24.2m. Adjusted profits rose 17% to £11.2m, while net debt stood at £30.1m. The firm simplified its structure into two divisions—software & data, which saw a 17% revenue rise to £18.4m, and services, up 20% to £24m. Its January acquisition of Rayner Spencer Mills Research added £1.7m in revenue and £0.6m in profit. (Financial Planning Today, 16/9/2025, 'Fintel revenue climbs 18.6% in first half')

The UK’s investment gap widened by over 30% between 2022 and 2024, with 15m adults holding more than £610bn in “possible investments” in cash, according to Barclays. The bank attributes 23% of the £35bn increase in cash savings to rising interest rates, which climbed from 1% in May 2022 to 5.25% by May 2024. The analysis focuses on savers with over six months’ income in cash, whose savings grew significantly through interest accrual. (Financial Planning Today, 15/9/2025, 'UK’s investment gap climbs to more than £610bn')
A Personal Financial Society 2025 Autumn Roadshow survey found 21% of Financial Planning firms use AI, 56% are experimenting, and 23% have yet to adopt it. Otto co-founder Madeleine Debney highlighted AI’s 40% growth in 2024, boosting productivity and streamlining tasks like onboarding, compliance, and portfolio rebalancing. The event supports wealth and cashflow planning professionals. (Financial Planning Today, 15/9/2025, 'Only 21% of Financial Planning firms have embedded AI')
Client acquisition (34%) and retention (23%) are top priorities for financial advisers in the next 12 months, according to IFA directory Unbiased. Other focuses include technology adoption (14%), expanding services (9%), and regulatory compliance (8%), reflecting the competitiveness of the UK advice market. (Financial Planning Today, 11/9/2025, 'Client acquisition and retention top adviser concerns')
Wealth manager Atomos has partnered with fintech Fincalc to enhance its retirement proposition and client onboarding. The integration provides advisers with tools for cashflow, retirement, and inheritance tax planning, alongside financial calculators. A new digital engagement portal will offer features like a customisable fact find, secure messaging, document uploads, and digital signatures. Atomos says the partnership aligns with its goal to lead in wealth management and financial planning. (Financial Planning Today, 10/9/2025, 'Atomos partners with Fincalc for new digital workflows')
Hargreaves Lansdown is adding two Schroders Capital long-term asset funds (LTAFs) to its platform on 15 September, becoming the first to offer LTAFs within a SIPP wrapper. These funds provide access to private equity and energy transition infrastructure, offering growth opportunities for long-term, diversified portfolios. (Financial Planning Today, 8/9/2025, 'Hargreaves and Schroders first to offer LTAFs in SIPPs')
Wealth manager Brooks Macdonald reported full-year net outflows of £0.4bn for the year ending 30 June, with a significant improvement in the second half, where outflows dropped to £0.1bn from £0.3bn in the first half. Net outflows for the quarter ending 30 June were just £5m, the lowest in two years. Despite challenges, including 2023 outflows and a 10% staff reduction, revenues rose 4.6% to £111.6m, driven by higher Financial Planning income. Funds under management grew 17% to £19.2bn, though underlying profit before tax fell 4.6% to £28.9m due to acquisition and integration costs. (Financial Planning Today, 4/9/2025, 'Net outflows drop for Brooks Macdonald')
How leading wealth advisors are using AI to stay competitive - Leading wealth advisors are leveraging AI for enhanced portfolio management, compliance, client communication, and predictive analytics, achieving up to 40% in operational efficiency improvements. But how are they managing critical challenges like data privacy, AI bias, and technology integration? Read our insights piece to find out. (IDEX Consulting news, 'How leading wealth advisors are using AI to stay competitive')
IDEX Consulting launches new M&A sell side offering - Designed for financial advice firms, IDEX’s new solution challenges the industry’s current traditional transaction-focused model, transforming how businesses prepare for sale and achieve maximum earn out revenue. Learn more on IDEX’s brand new M&A website. (IDEX Consulting news, 'IDEX Consulting launches new M&A sell side offering')
Get the business edge with a competitive sustainability strategy - Building a sustainability strategy involves aligning with regulatory frameworks, embedding sustainable practices to attract talent and investors, and addressing challenges like greenwashing and transparency. Learn how you can build long-term business resilience and competitive advantage. (IDEX Consulting news, 'Get the business edge with a competitive sustainability strategy')
Are your clients prepared for potential wealth tax changes? - The potential introduction of a UK wealth tax is creating uncertainty for wealth managers and clients. Wealth Managers need to be proactive with their planning, strategic advisory, and make necessary adjustments in investment and tax strategies to navigate regulatory and economic impacts. (IDEX Consulting news, 'Are your clients prepared for potential wealth tax changes?')

Mergers and Acquisitions

Tweed Wealth Management has acquired Edinburgh-based The James Boyd Practice, a former St. James’s Place partner, for an undisclosed sum, marking its sixth acquisition in seven years and bringing its assets under management close to £1bn. James Boyd, who plans to retire, chose Tweed due to their long-standing relationship. This follows Tweed’s acquisition of Glasgow-based Capital Wealth Consultants and other firms, including John Home Wealth Management and Melville Wealth Management. (Financial Planning Today, 17/9/2025, 'Tweed acquires former SJP Edinburgh planner')
Clifton Wealth Partnership has acquired Grovebridge Financial and Clifton Business Consultancy, adding £146m in assets. Yorkshire-based Grovebridge has provided Financial Planning to 200 families for a decade. Director Paul Smith will remain, while Co-Director Hilary Stephenson retires. Clifton Business Consultancy, based in Bristol, has advised business owners for 16 years. Director Bob Thomas will stay on, with Co-Director Michael Lloyd retiring. The acquisitions further expand Clifton’s growing wealth management portfolio. (Financial Planning Today, 4/9/2025, 'Clifton Wealth adds £146m AUM with 2 Planner acquisitions')
Chartered Financial Planning firm Unividual has been acquired by 7IM subsidiary Lync Wealth Management for an undisclosed sum. Bath-based Unividual, founded in 2000, will rebrand under the Lync name but retain its office, client fees, services, and adviser relationships. Lync said the acquisition strengthens its regional presence and commitment to client outcomes. Since 2023, Lync has acquired over seven firms managing £500m in assets, bolstering its growth under the 7IM group. (Financial Planning Today, 4/9/2025, 'Chartered Planning firm Unividual acquired by 7IM')

Movers

Dynamic Planner has made several senior appointments to drive its growth ambitions, including Alan Smith as Enterprise Development Director. Smith will lead sales of Dynamic Planner’s product and API solutions to major financial institutions. He brings extensive experience from senior roles at Citibank in New York and HSBC in London. (Dan Cooper, 29/9/2025, Money Marketing, 'Dynamic Planner strengthens leadership team to accelerate growth')
Ascot Lloyd has appointed Ben Waterhouse as Chief Client Officer, a newly created role aimed at accelerating the firm’s growth strategy. Starting in January 2026, Waterhouse will report to CEO Francis Jackson and succeed Gary Stirrup, who steps down as Chief Commercial Officer in October. With over 20 years of experience, including roles at Schroders Personal Wealth, Barclays Wealth, Fidelity, and Legal & General, Waterhouse will focus on uniting Ascot Lloyd’s capabilities to meet evolving client needs. (Momodou Musa Touray, 29/9/2025, Money Marketing, 'Ascot Lloyd hires Schroders’ Waterhouse as new chief client officer')
Vanguard appoints Gillian Hepburn, formerly of Benchmark Capital, as Head of Adviser Solutions in the UK to expand its model portfolio services, platform partnerships, and adviser offerings, leveraging her 30+ years of financial services experience. (Financial Planning Today, 25/9/2025, 'Vanguard poaches Benchmark's Hepburn as adviser solutions head')
Ortec Finance appointed John O’Driscoll, a financial services veteran with over 20 years of experience and former St. James’s Place Division Director, as Managing Director of OPAL Financial & Wealth Planning to enhance its UK Financial Planning technology, leveraging his expertise in AI, automation, and advice transformation. (Financial Planning Today, 23/9/2025, 'Ortec hires SJP exec to boost UK Financial Planning')
John Goddard, former HSBC banker, has been appointed CEO of Quilter Cheviot, succeeding Andy McGlone, who led the firm through significant growth and transformation, to drive further strategic advancements in wealth management. (Financial Planning Today, 22/9/2025, 'Former HSBC banker takes over as Quilter Cheviot CEO')
Fairstone Group has appointed former Aldermore Bank CEO Steven Cooper as its new Chief Executive Officer, succeeding founder Lee Hartley, who becomes Deputy Chair. With over 30 years of financial services experience, including leadership roles at Barclays and Aldermore Bank, where he nearly doubled its size, Cooper will support Fairstone’s growth strategy to double its business by 2030. A CBE recipient for services to banking and social mobility, he also chairs Experian UK and has held various non-executive roles. (Financial Planning Today, 16/9/2025, 'Fairstone appoints former Aldermore Bank CEO')
Fast-growing financial planner Finli Group, formerly Solomon Capital Holdings, has appointed former Brown Shipley CEO Calum Brewster as Chief Commercial Officer, succeeding Simon Goldthorpe, who will step back as Chief Distribution Officer at year-end but remain involved. Brewster, joining on 3 November, brings over 25 years of experience in wealth management and advisory, including leadership roles at Barclays Wealth and Julius Baer, as well as a successful career as an IFA. (Financial Planning Today, 16/9/2025, 'Finli appoints former Brown Shipley CEO as CCO')
AFH has hired two senior ex-St James’s Place executives to drive growth. Iain Rayner, former COO at SJP, will join as Chief Commercial Officer in January 2026, while James Fogarty, former Head of Acquisition, has started as Recruitment Director, focusing on adviser recruitment. Both will support AFH’s launch of a Partnership proposition targeting owner-managed businesses. Rayner brings over 20 years of financial services experience, including managing SJP’s largest businesses, while Fogarty led SJP’s national recruitment team, specialising in onboarding large advisory firms. (Financial Planning Today, 12/9/2025, 'AFH recruits two senior staff from SJP')
Fintech Origo has appointed Vivienne Sacco as Chief Finance Officer. Formerly group and UK CFO at FNZ, she brings 25 years of experience in technology and financial services. Sacco will oversee finance, legal, and information security, with CEO Anthony Rafferty highlighting her role in driving the firm’s next growth phase. (Financial Planning Today, 12/9/2025, 'Ex FNZ CFO joins Origo')
Barnett Waddingham has appointed Emily Crotty as Head of SIPP Risk and Rebecca Smith as Head of SIPP Finance, joining its senior management team to expand its SIPP offering. Crotty, formerly with Embark Group, will shape the risk framework, while Smith, from tech firm Newsflare, will lead SIPP finance. (Financial Planning Today, 10/9/2025, 'Barnett Waddingham adds to SIPP team')
Manchester-based Pareto Financial Planning has expanded its team to around 75 with the addition of Chartered Financial Planner Sarah Mullarkey, Financial Adviser Mark Singh, and Employee Benefits Consultant Holly Potts. Mullarkey, previously with JPB Financial Planning, specialises in cashflow planning. Singh, who transitioned from sports coaching and property investment, joins after launching his own Financial Planning firm. Potts brings over 20 years of experience in employee benefits, focusing on group risk, corporate healthcare, and cost-effective benefit strategies. (Financial Planning Today, 9/9/2025, 'Pareto recruits 3 including Chartered Financial Planner')
Sally Plant, the CISI’s Head of Financial Planning, is leaving after nearly five years to join the LIBF as Relationship Director for financial services. At the CISI, she led the growth of Financial Planning, the CFP qualification, and UK business development. The LIBF, with 29,000 members, aims to expand its financial services portfolio, and Plant will support this growth alongside Director John Somerville. (Financial Planning Today, 3/9/2025, 'CISI Financial Planning head Sally Plant moves to LIBF')