Financial Services newsletter Friday 27th February 2026

Financial Services News

Women contributed 104% of the amount men did to pensions in January at PensionBee, driven by women aged 40-49, marking only the second time women outpaced men, despite historically smaller pension pots and lower savings levels. (Financial Planning Today, 27/2/2026, 'Millennial women driving uplift in pension contributions')
St James’s Place (SJP) reported a 33% rise in IFRS profit after tax to £531.4 million, a 16% increase in Funds Under Management to £220 billion, and launched the Polaris Multi-Index range, while continuing its costly review of previous business and maintaining shareholder distributions through dividends and buy-backs. (Financial Planning Today, 25/2/2026, 'SJP reports 33% rise in IFRS profit but review continues - analysis')
Brooks Macdonald reported a 5% increase in Funds Under Management and Administration (FUMA), reaching £20.1 billion, reflecting steady growth in its wealth management operations. (Financial Planning Today, 24/2/2026, 'Brooks Macdonald FUMA climbs by 5% to £20.1bn')
Wealth manager Utmost Group reported record inflows of £9.7bn in 2025, a 43% increase following two years of net outflows. The rise is attributed to the successful integration and rebrand of Lombard International, with £4.4bn of inflows in the second half complementing £5.3bn in the first half.(Financial Planning Today, 17/2/2026, 'Utmost inflows climb 43% to £9.7bn')
DeVere Group reports that 35% of its 80,000 high-net-worth clients are considering relocating to lower-tax countries, driven by tax changes, geopolitical tensions, and policy unpredictability. Popular destinations include the UAE, with its zero personal income tax, and stable European and Asian financial hubs. CEO Nigel Green highlights a shift from growth-driven mobility to wealth preservation, asset protection, and strategic re-domiciliation. (Financial Planning Today, 17/2/2026, '35% of HNWs considering shift to lower-tax location')
The Quilter Foundation, the charity arm of wealth manager Quilter, has pledged £3m to financial education over five years as part of a £4m commitment. This includes a new Financial Education in Schools initiative with Money Ready and up to £1m in grants for large-scale UK financial education programmes targeting key life moments like workforce entry, financial hardship, and retirement planning. (Financial Planning Today, 16/2/2026, 'Quilter Foundation pledges £3m to financial education')
A survey by advice firm Continuum revealed that only 19% of people would seek financial advice, despite just 46% feeling financially secure. Scots were the most financially secure (54%) and among the most likely to seek advice (20%), while Northern Ireland had the lowest financial security (37%) but the highest intent to seek advice (27%). In England, the Midlands had the least secure savers (40%), with 21% planning to seek advice, second only to London (22%). (Financial Planning Today, 16/2/2026, 'Only 19% of people would use a financial adviser')
Mattioli Woods has launched its Financial Adviser Academy, aimed at second-careerists with at least three years of client-facing experience. The 21-month, fully-salaried program includes CII exams and recruits advisers for Leicester, Stockport, and Belfast. The academy offers comprehensive support and benefits to help trainees build careers in Financial Planning. (Financial Planning Today, 12/2/2026, 'Mattioli Woods launches adviser academy')

The UK economy remained flat in Q4 2025, with GDP growth of just 0.1%, according to the ONS. Annual GDP grew by 1.3% in 2025, up from 1.1% in 2024. December saw a 0.1% uplift, while November’s growth was revised down to 0.2%. Adam Hoyes, Senior Asset Allocation Analyst at Rathbones, noted that the Bank of England is likely to continue cutting interest rates in 2026, as today’s data highlights downside risks to activity, potentially swaying more hawkish members of the Monetary Policy Committee. (Financial Planning Today, 12/2/2026, 'Flat UK economy puts pressure on Bank of England')
UK retail investment advice firm numbers have fallen by 14% over the past two years, with small firms (1–5 advisers) declining the fastest, according to The New Talent Alliance. While overall adviser numbers remain stable, more advisers are now concentrated in larger firms. Advisers aged 30–39 have grown by 12%, driven by academy programmes, but only 171 advisers are under 25, posing a long-term talent pipeline risk. Tom Hegarty, Chair of the New Talent Alliance, warned that these trends challenge the FCA’s vision of a competitive and sustainable advice market. (Financial Planning Today, 10/2/2026, 'Adviser firm numbers fall by 14% in 2 years')
Aviva was the most recommended adviser platform in 2025, with Quilter close behind, according to a Defaqto Engage report. The two platforms outpaced other providers, with Fidelity slightly ahead of Transact. Aberdeen appeared in the top ten twice but did not match the volumes of the leading platforms. (Financial Planning Today, 10/2/2026, 'Aviva most recommended adviser platform in 2025')
Intelliflo has launched Intelliflo IQ, an AI-driven engagement assistant developed with wealthtech AI partner Multiply. Now live within Intelliflo Office, the tool aims to cut adviser admin time by up to 85% and is targeted at the 43% of advisers already using AI. The assistant records client meetings, captures key details, and generates compliant summaries. A second tool, the intelligent advice assistant, is set to launch in late 2026 to proactively identify client needs and suggest tailored solutions. (Financial Planning Today, 9/2/2026, 'Intelliflo launches AI tool to help adviser efficiency')
Over three-quarters (78%) of financial planning firms expect profit growth in 2026, with a third predicting increases of over 20%, according to The Langcat’s State of the Adviser Nation report. Nine in ten firm owners reported turnover growth in the past year. AI adoption surged from 29% to 60%, becoming a top priority for 40% of firms, though concerns remain around governance and data security, with 35% lacking confidence in AI tool security. Tax planning also rose in importance, cited as a priority by 39% of firms. (Financial Planning Today, 5/2/2026, '3 in 4 Planning firms expect profit growth in 2026')
Political and economic uncertainty has led 23% of Britons to favour cash over investments, according to Standard Life. Among 55–65-year-olds, 11% may withdraw pensions, and 19% are considering delaying retirement. Inflation (94%), energy costs (91%), tax hikes (83%), and interest rates (68%) are top concerns, with 59% feeling less confident about their finances. (Financial Planning Today, 4/2/2026, 'Uncertainty pushes quarter of Britons away from investing')
Aberdeen Adviser has released a technical guide to help Financial Planners navigate the complexities of pension consolidation. The guide offers insights on suitability, risk management, and decision-making. Andrew Zanelli, Head of Technical Engagement, emphasised the importance of balancing technical knowledge with client objectives, warning that poor consolidation can harm outcomes, while good consolidation enhances flexibility and control. (Financial Planning Today, 3/2/2026, 'Aberdeen Adviser launches pension consolidation guide')
Fintel, owner of SimplyBiz and Defaqto, reported a 17% profit increase to £25.9m in 2025, with revenue up 10% to £85.9m. SaaS & Subscription revenue grew 10% to £48.7m. The firm has £17.3m in cash and £72.5m headroom in its £120m credit facility. Net debt rose to £31.1m due to acquisitions and investment in a new operating structure. (Financial Planning Today, 3/2/2026, 'Fintel profits climbed 17% to £26m in 2025')
Aberdeen-based Johnston Carmichael Wealth has rebranded to Partners Wealth Management, nearly a year after its acquisition by 7IM. The March 2025 deal added £855m in assets and 1,500 clients. The firm’s 14 Financial Planners now manage £900m for 1,300 clients, supported by the resources of a national firm. (Financial Planning Today, 2/2/2026, 'Johnston Carmichael Wealth rebrands to Partners')
What is your business worth? - Are you considering selling your Financial Services business, planning for growth, or shaping your 2026 strategy but need credible insights into its value? Our free valuation calculator, tailored for Financial Planners and advisers, provides an instant estimate based on your company’s profile, recurring income, and profitability. Gain the essential data you need to make informed, strategic decisions with confidence. (IDEX Consulting news, 'What is your business worth?')
Counter offers - the real truth behind the proposal - Counter-offers are increasingly common, but their effectiveness is debated, with many professionals leaving their roles within a year of accepting one. Before deciding, evaluate your reasons for resigning, compare offers beyond salary, and consider the long-term impact on job satisfaction and career growth. Take your time, seek professional advice, and ensure your decision aligns with your goals and values. (IDEX Consulting news, 'Counter offers - the real truth behind the proposal')
Check if your salary is in line with market rates - Ensure your salary aligns with industry standards using the IDEX Salary Calculator. Designed specifically for Financial Services professionals, this tool provides precise benchmarks based on your role, helping you compare your current pay to market rates. Gain valuable insights into your earning potential and make informed decisions about your career progression or next opportunity. (IDEX Consulting news, 'Check if your salary is in line with market rates')
How leading wealth advisors are using AI to stay competitive - Wealth advisors are using AI to enhance portfolio performance, compliance, and client service, achieving up to 40% efficiency gains. AI supports tasks like rebalancing, risk management, and predictive analytics. While challenges like data privacy and AI bias exist, successful firms combine AI with human expertise, ensuring transparency and strategic use. By 2028, AI is expected to guide 80% of retail investors. (IDEX Consulting news, 'How leading wealth advisors are using AI to stay competitive')

Mergers and Acquisitions

Dorset-based Ward Goodman has acquired local chartered accountant Graham Latham, merging practices to enhance its business advisory capabilities and support regional expansion, with Latham joining the board as a consultant alongside his 100-client portfolio. (Financial Planning Today, 27/2/2026, 'Dorset’s Ward Goodman acquires local firm as it plots expansion')
Stone Point Capital has acquired a majority stake in Amber River, a London-based Financial Planning firm with £13.6bn in assets under management. Amber River, serving 80,000 clients through 13 regional wealth centers, will use the investment to expand its "Life Landscaping" offering. The deal, reportedly worth £900m, is expected to complete by summer, with Penta Capital remaining a key backer. (Financial Planning Today, 20/2/2026, 'US private equity firm swoops on planner Amber River')
Chesnara has agreed to acquire Scottish Widows Europe, a Luxembourg-based closed life insurance business, from Lloyds Bank for €110m (£95.98m). The deal adds €1.7bn (£1.48bn) in assets under administration and 46,000 policies. Expected to complete by the end of 2026, the acquisition is projected to generate €250m (£218m) in cash over the policies' lifetime, with €100m (£87.25m) in the first five years. Chesnara sees this as a strategic entry into Luxembourg and a platform for growth across Europe. (Financial Planning Today, 17/2/2026, 'Scottish Widows Europe sold to Chesnara for £96m')
Schroders has agreed to a £9.9bn ($13.5bn) takeover by US investment manager Nuveen, ending over 200 years of family ownership. The Schroders brand will remain, with London serving as the group’s head office outside the US. Shareholders will receive 590p per share in cash plus dividends, valuing shares at 612p. The combined firms will manage nearly $2.5trn (£1.8trn) in global assets. (Financial Planning Today, 12/2/2026, 'US investment house Nuveen to acquire Schroders for £9.9bn')
Swedish wealth manager Söderberg & Partners has made a “significant investment” in Artorius Wealth Limited, marking a major step into the UK’s high-net-worth (HNW) and family office sector. Artorius, founded in Manchester in 2015 and now based in London, manages over £1.8bn. Söderberg & Partners plans further HNW acquisitions in the UK, having already taken stakes in several Financial Planning firms, including a 30% stake in Murphy Wealth in 2025, its first Scottish investment. The partnership leverages Söderberg’s expertise in growing HNW businesses through technology and long-term capital. (Financial Planning Today, 9/2/2026, 'Söderberg expands in UK HNW market with Artorius stake')
Evelyn Partners, a private equity-owned wealth manager and financial planner, has been sold to NatWest for £2.7bn, pending regulatory approval. The deal, expected to complete in summer 2026, will merge Evelyn Partners’ £69bn AUMA with NatWest’s £59bn PBWM business, including Coutts. The combined entity will manage over £127bn in AUMA and £188bn in total customer assets and liabilities, led by Emma Crystal, CEO of PBWM. (Financial Planning Today, 9/2/2026, 'Evelyn Partners sold to NatWest for £2.7bn')
Benchmark Capital, a financial planning solutions provider owned by Schroders, has acquired two long-term client firms: Caroline Banks & Associates (CB&A) and Verum Financial LLP. CB&A, based in London’s Mayfair, adds three advisers and over £200m in client assets, while Verum, near Canterbury, brings six advisers and over £250m in assets. Both firms, partners of Benchmark for 11 years, will integrate into its Financial Planning business, with management and staff joining the team. The acquisitions provide succession planning for the founders. (Financial Planning Today, 5/2/2026, 'Benchmark adds £450m with pair of adviser acquisitions')
Bristol-based wealth manager Clifton Wealth Partnership has acquired two Scottish Financial Planning firms, Cairn Independent and JRW, adding nearly £150m AUM and bringing its total AUM to over £3.5bn. Cairn’s Founder Robert Young is retiring, while its team, including Director David Cameron-Harper, will remain. Cairn’s Laura Young will take on a regional support role at Clifton. JRW, established in 2016, serves 300 clients, with Director Ian Walsh staying on as a Consultant for a year. (Financial Planning Today, 3/2/2026, 'Clifton Wealth expands in Scotland with 2 acquisitions')

Movers

Lord Deben will step down as Chairman of wealth management association PIMFA in March after nine years, during which he played a key role in uniting trade bodies, strengthening the association’s standing, and advocating for high standards in the wealth management and financial planning sectors. (Financial Planning Today, 27/2/2026, 'PIMFA chairman to step down in March')
Evelyn Partners has appointed Gurdeep Saini as Financial Planning Director in its London office and Robert Skilling in its Knutsford office, Cheshire. Ms. Saini, with over 25 years of experience in wealth management and private banking, previously worked at Santander’s Private Banking division, advising high-net-worth clients. Mr. Skilling, bringing over 30 years of financial services experience, joins from RBC Brewin Dolphin, where he spent eight years advising private clients and mentoring future planners. (Financial Planning Today, 23/2/2026, 'Evelyn adds 2 Financial Planning directors in London and Cheshire')
Azets Wealth Management in Bristol has appointed Simon Stygall as a Chartered Financial Planner and Director, focusing on lifestyle planning for business owners and individuals. Previously with Flying Colours, Mr. Stygall brings experience from roles at Close Brothers Asset Management, Hargreaves Lansdown, and other financial firms. (Financial Planning Today, 17/2/2026, 'Azets appoints Bristol Chartered Financial Planner')
Zac Purchase-Hill MBE, Financial Planning director at Ascot Lloyd and former Olympic rowing gold medallist, has been appointed President of the CISI Cotswolds branch committee, succeeding James Swaby. Alongside advising private clients and high-net-worth individuals, Mr. Purchase-Hill is dedicated to raising professional standards and mentoring future Financial Planners. A retired athlete, he won Olympic gold in 2008, silver in 2012, and multiple World Rowing Championship medals. (Financial Planning Today, 13/2/2026, 'Olympic gold medal rower becomes President of CISI Cotswolds')
Sir Jan du Plessis will step down as Chair of the Financial Reporting Council (FRC) at the end of September after four years in the role. With a career spanning nearly two decades chairing major companies like BT Group and Rio Tinto, Sir du Plessis plans to retire. The Department for Business and Trade, in consultation with the FRC Board, will lead the search for his successor. (Financial Planning Today, 11/2/2026, 'FRC Chair to step down after 4 years at the helm')