Financial Services newsletter Friday 28th November 2025

Financial Services News

Financial experts, including Dominic Tayler of Oakglen Wealth, criticised the Budget for penalising growth through pension investment restrictions and dividend tax hikes. Tayler noted the measures discourage growth despite promises of enterprise support. Concerns were also raised about higher taxes dampening economic growth and creating unintended consequences that could undermine Treasury revenues and stability. (Financial Planning Today, 27/11/2025, 'Budget 25: Advisers react to 'mixed' measures')
The Financial Ombudsman Service (FOS) plans to raise case fees by 4.6% to £680 and the compulsory levy by 10% to £86m in 2026/27, citing inflation and reserve improvements, while aiming to resolve 245,000 cases, including 60,000 motor finance commission cases. (Financial Planning Today, 27/11/2025, 'FOS fees and levies to rise for first time in 3 years')
A Wealth Club report reveals declining confidence among wealthy individuals in the UK as an investment destination, with 47% losing faith, only 20% seeing it as a good place to invest, and 64% doubting its appeal for starting a business; 79% feel the UK lacks support for wealth creation, citing taxation and cultural factors, while just 11% find it attractive for entrepreneurship, reflecting a broader sentiment of investor pessimism. (26/11/2025, Financial Planning Today, 'Half of wealthy investors lost faith in UK says report')
The Treasury has confirmed a 4.8% increase in the State Pension for 2026/27 under the Triple Lock, raising the full new State Pension to over £240 a week, providing recipients with more than £550 extra annually—£120 more than an inflation-only increase—while the full basic State Pension will rise by around £440 a year. (24/11/2025, Financial Planning Today, 'State Pension to rise by 4.8% in April Treasury confirms')
The FCA is launching a consultation to cut unnecessary reporting requirements, aiming to save regulated firms over £100m annually; recent proposals include reducing MiFID transaction reporting costs from £493m to £385m and scaling back regulatory returns for 95% of firms, part of a broader effort to streamline submissions and reduce red tape for 36,000 firms. (21/11/2025, Financial Planning Today, 'FCA plans red tape crackdown to save firms £108m')
UK financial advisers are adopting a cautious market outlook, prioritizing diversification by increasing allocations to alternatives (36%) and emerging markets (32%), according to Schroders’ survey; with 31% expecting lower equity returns and 60% citing geopolitical disruption, advisers are also focused on technological advances (68%), driven by rapid AI developments and concerns over market bubbles. (20/11/2025, Financial Planning Today, 'Cautious advisers are prioritising diversification')
Research from St James’s Place reveals that 95% of consumers receiving ongoing financial advice feel it helps them stay on track with goals, with 85% meeting or exceeding financial targets compared to 64% without advice; advised individuals are twice as likely to have a structured plan (68% vs 32%) and more prepared for retirement, with 58% saving for it compared to 35% of those without advice. (20/11/2025, Financial Planning Today, '95% say financial advice helps them hit financial goals')
Tatton Asset Management reported a 20.94% rise in operating profit to £13.111m for the six months to September, with group revenue up 18.6% to £25.691m. Assets Under Management/Influence grew 29.6% to £25.848bn, with November figures reaching £27.126bn and year-to-date net inflows of £2.067bn. Organic net inflows rose by £1.684bn, an annualised 16.1% increase. The number of IFA firms grew 5.4% to 1,170, while accounts increased 8.6% to 167,150. (18/11/2025, Financial Planning Today, 'Tatton profits up 20% and AUM up 30%')

PFS President Carla Brown, speaking at the PFS 2025 National Conference in London, called for more women in Financial Planning, noting only 18% of advisers are women. Addressing 1,800 members, she urged the profession to promote careers for women and encouraged female advisers to act as role models. Brown expressed optimism about the PFS’s future, highlighting new initiatives and a collaborative spirit as the organisation moves past recent challenges. (13/11/2025, Financial Planning Today, 'PFS President calls for more women in Financial Planning')
A Scottish Widows survey of 200 UK Paraplanners found 22% are using AI for tasks like meeting notes, documentation, and data gathering to manage increasing workloads driven by regulatory changes. While 82% expect AI to boost efficiency and cut admin in the next five years, only 12% of firms currently have a formal AI policy, with 35% developing one. (13/11/2025, Financial Planning Today, '1 in 5 Paraplanners using AI to meet rising workload')
Aviva reported an 8% rise in wealth net flows to £8.3bn for the nine months to 30 September, driven by strong platform and workplace sales. Wealth assets under management grew 7% to £224bn since June, with £1bn in monthly inflows from workplace contributions. Aviva remains on track for £280m operating profit from its wealth division by 2027. (13/11/2025, Financial Planning Today, 'Wealth net inflows rise 8% to £8.3bn for Aviva')
Financial Planners are reaching millions on YouTube, with Pete Matthew, CEO of Jackson Financial Planning, leading the way. His Meaningful Money channel has surpassed 10m views over 15 years, reaching one in seven UK adults. A crackdown on fraudulent investment content by YouTube, under FCA pressure, has created opportunities for regulated advisers to provide quality financial education. (12/11/2025, Financial Planning Today, 'YouTube Planners reaching millions of viewers')
Research by Bower Home Finance reveals seven of the UK’s top 10 areas where over-65s are still working are in London. Newham leads with 31% of residents aged 65+ remaining employed, while Newcastle Upon Tyne has the lowest rate at 4%. (7/11/2025, Financial Planning Today, 'Cost of living holding back many Londoners from retiring')
M&G has reported £1.8bn in net inflows for Q3, marking a significant improvement from 2024’s net outflows. Year-to-date net inflows now total £3.9bn, continuing the positive trend from H1 2025. Assets under management and administration rose 3% in Q3 to £365bn, with £176bn from external clients. CEO Andrea Rossi expects growth to continue. (5/11/2025, Financial Planning Today, 'M&G reports £1.8bn of inflows for Q3 as recovery continues')
Evelyn Partners’ assets under management reached a record £67bn in Q3, up 3.8% for the quarter and 7.3% year-on-year. Gross inflows rose to £2.1bn, a 17.6% increase from the previous quarter, while net inflows grew 20.5% year-on-year to £269m. The firm also announced a major systems integration project to enhance its focus on AI. CEO Paul Geddes highlighted the firm’s commitment to supporting clients amid tax, pension changes, and Budget uncertainty. (4/11/2025, Financial Planning Today, 'Evelyn’s AUM climbs to record £67bn as it focuses on AI')
Biggest challenges facing Financial Advisers - Financial advisers continue to face challenging economic pressures, and growing regulatory changes, as well as rising client expectations. Many are also contending with market uncertainty and the potential risks of AI in financial advising. Despite these challenges, many opportunities exist – IDEX Consulting shares what financial advisers should know and the action they should take now. (IDEX Consulting news, 'Biggest challenges facing Financial Advisers')
Counter-offers - the real truth behind the proposal - Before accepting a counter-offer, professionals should evaluate their reasons for resigning, consider the long-term impact on job satisfaction, compare career development opportunities, and seek impartial advice, as research shows most who accept counter-offers leave within a year due to unresolved issues. (IDEX Consulting news, 'Counter-offers - the real truth behind the proposal')
How to create an inclusive hybrid and remote culture - Inclusive hybrid cultures require more than just engagement strategic; businesses must actively embed inclusive practices. Hybrid work presents challenges, particularly for marginalised groups, due to biases in virtual settings and accessibility issues. Key strategies include understanding diverse employee experiences, fostering open feedback, and providing tailored training for virtual inclusion. Proactive measures will ensure a more equitable and connected workforce. (IDEX Consulting news, 'How to create an inclusive hybrid and remote culture')
Financial Services business valuation calculator - Are you planning your 2026 business strategy but need reliable insights into your business performance? Our free valuation calculator for Financial Services firms provides an instant valuation based on your company's profile, recurring income, and profitability, giving you the essential data to make informed decisions. (IDEX Consulting news, 'Financial services business valuation calculator')

Mergers and Acquisitions

WH Ireland shareholders have approved an all-share merger with Team, valuing WH Ireland at £12.7m. The deal, giving WH Ireland shareholders 43% of the combined firm, will create a group with £2.1bn in assets under management and a market cap of £30.3m, pending regulatory and court approval. (Financial Planning Today, 27/11/2025, 'Shareholders give Team takeover of WH Ireland green light')
Chartered Financial Planning firm Craven Street Wealth has acquired Pharon Independent Financial Advisers, creating a business advising over 5,800 clients on £2.9bn of assets; founded in 2019, Craven Street Wealth has acquired six firms across southern England and, after joining private equity-backed Quanta Group earlier this year, aims to leverage scale, investment, and technology to enhance adviser capabilities and client outcomes. (25/11/2025, Financial Planning Today, 'Craven Street acquires Canterbury firm Pharon')
London-based Chartered Financial Planner The Penny Group has acquired a majority stake in £360m AUM Berkshire firm Harridge Financial Services, marking a strategic merger to enhance client offerings; the deal brings The Penny Group’s total assets to over £2bn with 48 advisers, while Harridge, founded in 1991, will operate as The Penny Group Harridge, with full integration planned over three years. (21/11/2025, Financial Planning Today, 'Penny Group acquires £350m AUM Berks adviser')
Titan Wealth is acquiring South Wales-based Thomas Carroll IFA, subject to regulatory approval; established in 1987, the firm manages over £160m in assets and serves 450 clients. The acquisition, from employee-owned Thomas Carroll Group, will see Thomas Carroll IFA staff join Titan’s Welsh Hub, Nugenis, in Cardiff, expanding Titan’s presence in the region and enabling the firm to offer a broader range of services to clients. (18/11/2025, Financial Planning Today, 'Titan Wealth acquires £160m AUA South Wales firm')
Howden has acquired Evelyn Partners’ employee benefits arm, EPFS, for an undisclosed sum, with completion expected in Q1 2026, subject to regulatory approval. The sale aligns with Evelyn’s focus on wealth management. EPFS, led by Gareth Sawyer, provides consultancy on group risk, healthcare, and employee benefits, and its 38-strong team will join Howden. The deal bolsters Howden’s UK employee benefits offering, following its March acquisition of Barnett Waddingham. (11/11/2025, Financial Planning Today, 'Howden buys Evelyn’s employee benefits arm')
London-based Twelve Wealth Management (TWM) has acquired Smith Hobbs Wealth Management for an undisclosed sum. Smith Hobbs MD Matt Smith, a Chartered Fellow of the CII and CISI, will join TWM, citing the deal as an opportunity to enhance client value. TWM, a St James’s Place partner with 13 advisers, offers Financial Planning and mortgage broking services. (7/11/2025, Financial Planning Today, 'Twelve Wealth Management acquires fellow SJP partner')
Azets Wealth Management has acquired chartered financial planning firm Evans Falco LLP for an undisclosed sum. Founded in 2010, Cornwall-based Evans Falco specialises in advising high net worth individuals on complex financial, tax, and later-life planning. The team, led by Chartered Financial Planners Treve Evans and Rosie Falco, will relocate to Azets’ Plymouth and Truro offices, enhancing local presence and client services. (6/11/2025, Financial Planning Today, 'Newcastle-based Azets acquires Cornwall Chartered Planner')
Moore Kingston Smith LLP has expanded its financial planning division with the acquisition of CMIS Independent Financial Advisors and Augustine Financial Planning for an undisclosed sum. Both firms hold CII Corporate Chartered status. CMIS, founded in 1988, operates in Essex and Lincolnshire, while Augustine, based in London, brings 40 years of expertise in Financial Planning, wealth management, and tax planning. Augustine also introduces family office services to Moore Kingston Smith, which plans to develop this offering further. (5/11/2025, Financial Planning Today, 'Moore Kingston Smith acquires 2 Financial Planning firms')
Plannex, formerly known as NextGen, has acquired financial services training brand About Financial and launched Plannex Training. The new venture offers learning materials for financial professionals preparing for CII exams. About Financial’s director, Jon Dunckley, joins as part-time Director of Training. Co-founder Rohan Sivajoti described the initiative as a complete rebuild of financial training, aiming to make learning practical, up-to-date, and results-driven. (4/11/2025, Financial Planning Today, 'Plannex acquires About Financial and launches training business')
South West Financial Plannerand accountancy firm Old Mill, along with its outsourced finance division Brook Financial, has been acquired by Kinbrook Group for an undisclosed sum. Old Mill will serve as Kinbrook’s anchor in the South West, while both firms retain their brands, leadership, and team structures. Kinbrook highlighted benefits such as national infrastructure, shared innovation, collaboration, and broader expertise for the acquired firms. (4/11/2025, Financial Planning Today, 'South West Planner Old Mill bought by Kinbrook Group')
BRI Wealth Management, based in Coventry, has acquired Gloucestershire-based FutureFocus Advisory Limited for an undisclosed sum. The deal adds around £40m in client assets under management to BRI. Founded in 1999 and based in Tewkesbury, FutureFocus Advisory specialises in pensions, retirement planning, investments, and life assurance. Founder Colin Donlon is set to retire following the acquisition. (3/11/2025, Financial Planning Today, 'BRI Wealth acquires £40m AUM Gloucester firm')
InvestAcc Group has acquired AJ Bell’s Platinum SIPP and SSAS business for £25m, boosting assets under administration to £9bn and adding 3,400 customers, 46 staff, and a Manchester office. CEO Will Self called it a key step in expanding InvestAcc’s reach. (3/11/2025, Financial Planning Today, 'InvestAcc completes £25m takeover of AJ Bell SIPP arm')

Movers

Angela Byrne, joining Standard Life as CEO of its pension and savings business in January 2026, will succeed Colin Williams, who transformed Phoenix Group into a customer-focused company and launched Standard Life Financial Advice; Byrne brings 20 years of experience from NatWest, where she was interim CEO of the retail bank, and will report to group CEO Andy Briggs. (26/11/2025, Financial Planning Today, 'Standard Life turns to NatWest for pensions and savings head')
Sheldon Mills, FCA Executive Director for consumers and competition since 2020, is reportedly leaving his £332,000-a-year role after an extended leave; known for overseeing competition enforcement, Consumer Duty, and AI in financial services, Mills joined the FCA in 2018 after senior roles at the CMA and a legal career, and has also been a trustee and chair of LGBTQ+ charity Stonewall. (24/11/2025, Financial Planning Today, 'FCA exec Mills set to leave £332k a year role - reports')
Chris Cummings, CEO of the Investment Association, will step down in June after 10 years; praised by board chair Ann Prendergast for his leadership, Cummings was recently appointed deputy chair of a government campaign to promote retail investment, with the IA set to begin the search for his successor. (21/11/2025, Financial Planning Today, 'Investment Association CEO to step down')
Stuart Dodson has been appointed CEO of True Potential Wealth Management, succeeding Steve Hutton, who left in July after eight months as CEO and seven years with the business, during which he held roles including managing partner. With over 25 years of experience, including positions at Openwork, Newcastle Financial Advisers, and Legal & General, Dodson will lead the firm’s wealth management strategy and join the True Potential Group executive committee as the company strengthens its position in the UK market. (19/11/2025, Financial Planning Today, 'True Potential turns to Openwork for new wealth CEO')
Former NatWest CEO Dame Alison Rose has joined FNZ as Chair of FNZ UK and an FNZ Group board member; with over 30 years in financial services, including her tenure as NatWest CEO until 2023, Dame Alison will help accelerate FNZ’s strategy to make investing more accessible. She also chairs Mishcon de Reya, is a Senior Partner at Charterhouse Capital Partners, and led the Government’s Rose Review of Female Entrepreneurship, earning a Damehood in 2023 for her contributions to financial services. (19/11/2025, Financial Planning Today, 'Ex-NatWest CEO Dame Alison Rose to chair FNZ UK')
PortfolioMetrix has named UK CIO Alex Funk as CEO from 1 January 2026, with Founder Brandon Zietsman becoming Executive Chair. Sharné Sanders, Oscar Reitsma, and Natalie Horton take on roles as CCO, COO, and CFO, respectively. Funk will retain investment duties, with Phil Bradford as CIO and Brendan de Jongh leading global investment strategy. (17/11/2025, Financial Planning Today, 'PortfolioMetrix appoints new CEO and senior team')
Barnett Waddingham has appointed Andrew Phipps as Head of SIPP Proposition and Supplier Management. Formerly at Embark Group, Phipps brings extensive experience, including 16 years at Suffolk Life/Curtis Banks and a term as Chair of the SIPP trade body AMPS. (17/11/2025, Financial Planning Today, 'Barnett Waddingham appoints new head of SIPP proposition')
Ian Mattioli, Founder of Mattioli Woods, will step down as CEO to become Founding President, with Chairman Peter Mann taking over as CEO. The move follows the firm’s merger with Kingswood, creating a £25bn wealth manager serving 25,000 clients. The merger, backed by Pollen Street Capital, aims to accelerate growth to £60bn in assets and 300 advisers, despite Kingswood’s recent financial challenges and rapid acquisition strategy. (14/11/2025, Financial Planning Today, 'Mattioli Woods CEO steps down as merger nears')
Financial Solutions has appointed former Sense Network Executive Leanne Williams as Managing Director, subject to FCA approval. Williams will lead the firm’s 2026 strategy, targeting growth and supporting advisers seeking new opportunities. Founded in 2017 by James Priday, the Exeter-based firm aims to become the go-to partner for advisers seeking independence and efficiency. (14/11/2025, Financial Planning Today, 'Financial Solutions hires new MD in push for growth')
The Association of Member-Directed Pension Schemes (AMPS) has reappointed Debbie Seaton of Seabridge SSAS as Chair for a second term. Jon Cuin of Barnett Waddingham remains Honorary Secretary, while Joy West transitions to Treasurer, replacing Tasneem Ul-Haq. Roger Howman of SSAS Reviews takes over as Membership Secretary, and Hannah Davies of Enhance Support Solutions joins the committee. Former Chair Andrew Phipps has stepped down. (10/11/2025, Financial Planning Today, 'AMPS reappoints Debbie Seaton as chair')
Former Transact CEO Jonathan Gunby has joined professional referrals platform RQ as a Board Adviser. Gunby, who retired from Transact in March after a 40-year career, will use his industry expertise to help RQ’s Financial Planning clients grow through professional referrals. (7/11/2025, Financial Planning Today, 'Transact’s former CEO Gunby joins referrals fintech')
Gary Stran, Non-Executive Director at wealth manager WH Ireland, has resigned two months earlier than planned, effective 5 November. Chair Simon Moore is still set to step down by 9 January but may also leave early. WH Ireland, facing financial difficulties, is seeking replacements for both directors as it continues efforts to wind up the business and sell key divisions. (5/11/2025, Financial Planning Today, 'Director of troubled WH Ireland quits 2 months early')