Financial Services newsletter Thursday 2nd April 2026

Financial Services News

UK GDP rose just 0.1% in each of the last two quarters, according to the Office for National Statistics (ONS), signalling stagnant growth and rising recession risk, with weakness in sectors like construction and manufacturing, pressure from high energy costs linked to global conflicts, and economists warning the economy is hovering close to contraction despite narrowly avoiding it so far. (Financial Planning Today, 31/3/2026, 'Recession fears raised as UK GDP climbs just 0.1%')
Only 14% of people are on track to retire at their desired age and income, according to Flagstone research, with most expecting to retire at 61 but realistically not affording to do so until around 83 - a 22-year gap - raising concerns over delayed retirement, workforce planning pressures, and wider fears that future retirees may be worse off. (Financial Planning Today, 31/3/2026, 'Only 14% on track to retire at desired age')
Quilter has welcomed 124 newly qualified advisers from its Academy’s 2025 cohort, with graduates from diverse backgrounds such as the military, sport and hospitality, as the firm continues efforts to widen access to financial advice and build the next generation of advisers, supported by structured training and development programmes. (Financial Planning Today, 30/3/2026, 'Quilter celebrates 124 newly qualified advisers')
The Financial Services Compensation Scheme (FSCS) plans to use AI to automate all “routine tasks” by 2031 as part of its new five‑year strategy to build a more cost‑efficient customer claims model and help keep levy costs under control; it has already invested in AI tools and says strengthening data capability and confidence in responsible AI use will improve customer outcomes, alongside other plans to enhance how it handles advice‑linked claims and boost awareness of its role. (Financial Planning Today, 26/3/2026, 'FSCS to automate ‘routine tasks’ with AI by 2031')
Wealth Club has launched a private markets SIPP, enabling investors to hold private assets such as VC and private equity alongside traditional holdings within a tax‑efficient pension wrapper; the move follows demand from advisers for broader diversification options, comes with a suite of investment tools and research to support decision‑making, and aims to help savers capture long‑term growth opportunities previously harder to access in pension products. (Financial Planning Today, 24/3/2026, 'Wealth Club launches private markets SIPP')
The Financial Planning Standards Board (FPSB) reports that the number of Certified Financial Planners (CFP) worldwide reached a record 236,300 in 2025, up 2.5 % year‑on‑year, with growth seen across 29 territories and a notable increase in younger and female certificants; in the UK CFP numbers also rose to 1,098, reflecting broader global demand for professional financial planning and continued expansion of the CFP designation as a global standard in the profession. (Financial Planning Today, 24/3/2026, 'Global CFP numbers reach record 236,300')
The Financial Conduct Authority (FCA) will publish proposals to simplify pension advice rules, as revealed by Chief Executive Nikhil Rathi at the JP Morgan Pensions and Savings Symposium, aiming to expand access to personalised advice for consumers while cutting complexity for firms, emphasising consumer protection balanced with empowering people to make informed financial decisions as part of broader reforms including targeted support and ongoing work on pension transfers. (Financial Planning Today, 23/3/2026, 'FCA to simplify pension advice rules')
InvestAcc Group reported that after its 2025 takeover of AJ Bell’s Platinum business, the number of SIPPs and SSAS schemes it administers jumped 47% to 18,329, while revenue rose 43% to £15 m and trading EBITDA climbed 62% to £6.9 m; the specialist pension administrator said it now works with 340 financial advisers and has multiple potential acquisitions in the pipeline targeting specialist providers, life companies and platforms as it looks to accelerate consolidation in a fragmented market. (Financial Planning Today, 19/3/2026, 'InvestAcc seeking acquisitions as scheme numbers rise 47%')

Quilter is rolling out AI‑powered tools to its financial advisers, including an AI assistant for drafting personalised client communications and insights, as part of its strategy to boost adviser efficiency and client service; the initiative follows pilots showing improved productivity, is integrated with Quilter’s existing platforms, and supports advisers with research summaries, report drafting and routine tasks while emphasising compliance and data security. (Financial Planning Today, 19/3/2026, 'Quilter rolls out AI tools to advisers')
New research from tax specialists Financial Software Limited shows that tax planning has climbed to the top of the agenda for financial planners’ clients, with continued cuts to the Capital Gains Tax (CGT) annual exemption and more individuals now falling into CGT scope prompting the majority of advice firms to adjust strategies - including more joint planning between spouses, emphasising full use of ISA and pension allowances, loss‑offsetting and gifting strategies - while around six in ten advisers say they now recommend fewer general investment accounts as tax planning becomes a central part of client reviews. (Financial Planning Today, 13/3/2026, 'Tax becoming bigger issue for Financial Planners’ clients')
The House of Lords has amended the Government’s Pensions Bill to “water down” planned salary sacrifice pension changes, voting to raise the cap on annual pension contributions qualifying for full National Insurance relief from the Government‑proposed £2,000 to £5,000 and applying the cap per employment rather than per individual, while also ensuring contributions above the cap won’t count as income for student loan calculations; the Bill will now return to the House of Commons, where ministers may seek to reverse these amendments before it becomes law (with implementation currently scheduled for April 2029). (Financial Planning Today, 12/3/2026, 'Lords vote for salary sacrifice contribution limit of £5,000')
The number of female SIPP millionaires at platform and investment provider Hargreaves Lansdown rose by 31 % in 2025, compared with a 16 % increase for male investors, highlighting faster growth in retirement wealth among women and underscoring the importance of targeted financial planning to support women’s long-term financial security. (Financial Planning Today, 6/3/2026, 'Female SIPP millionaires soar by 31% in one year')
Quilter’s adviser platform led gross sales in 2025, topping the adviser platform leaderboard in a record year for the UK platform market with total assets exceeding £1.3 trillion, according to Fundscape data; adviser platforms drove much of the growth with £97 billion in gross sales, and Quilter stood out with strong net flows and market share despite a softer final quarter influenced by pre‑Budget uncertainty, while other top platforms included Nucleus, Transact, Aviva and AJ Bell. (Financial Planning Today, 6/3/2026, 'Quilter tops adviser platform gross sales in record year')
Aviva reported record £11bn wealth inflows in 2025, driven by strong demand across its platform and investment propositions, with growth supported by adviser engagement and diversified product uptake; the performance underscores Aviva’s expanding presence in the UK wealth market as it continues to attract new assets and strengthen its distribution footprint. (Financial Planning Today, 5/3/2026, 'Aviva reports record £11bn in wealth flows')
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?')
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How to create an inclusive hybrid and remote culture - In our blog, we explore how hybrid setups can leave some people feeling left out if inclusion isn’t actively considered. We suggest listening to employees, using tech to make work more accessible, offering practical training, and creating habits that keep everyone connected and valued, whether they’re in the office or working remotely. (IDEX Consulting news, 'How to create an inclusive hybrid and remote culture')

Mergers and Acquisitions

Wren Sterling has acquired Keyte Ltd in Taunton and Mackenzie Taylor in Glasgow, adding around 1,400 clients and nearly £500m in assets under management, as it strengthens its regional footprint and continues its active acquisition strategy into 2026. (Financial Planning Today, 31/3/2026, 'Wren Sterling acquires firms in Taunton and Glasgow')
Jersey-based wealth manager Team plc has acquired EPIC Funds Services Guernsey for £800,000, alongside agreeing a further deal for investment mandates worth £157m AUM, as it expands geographically into Guernsey, diversifies into execution services, and continues its recent acquisition-led growth strategy following the purchase of WH Ireland. (Financial Planning Today, 30/3/2026, 'Team acquires Guernsey Financial Planner for £800,000')
Perspective Financial Group has acquired six financial planning firms: Freedom Advice LLP, Clearwater Wealth Management LLP, Cockburn Lucas Independent Financial Consulting Ltd, Crown Wealth Management Ltd, Devonshire Wealth Management and Mackrill Financial Management Ltd, in the first quarter of 2026, collectively adding about £825 m in assets under management, 12 financial planners and new offices in Nottingham, Shrewsbury, Central London and Ripponden as part of its ongoing expansion drive. (Financial Planning Today, 25/3/2026, 'Perspective snaps up 6 Financial Planning firms')
Consolidator Absolute Financial Group has acquired Devon‑based IFA HR Independent Financial Services for an undisclosed sum, marking its second takeover following its earlier purchase of Absolute Financial Management; the South Brent firm, founded in 1998, adds to Absolute’s growing advisory network as it seeks more deals and builds a national footprint under CEO David Carter with backing from private equity and industry partners. (Financial Planning Today, 23/3/2026, 'Consolidator Absolute acquires Devon IFA')
Two activist investors - Albert Saporta and Randel Freeman, portfolio managers of the GAM Global Opportunities Fund and GAM Global Special Situations Fund - have written to Liontrust Asset Management CEO John Ions calling for an immediate strategic review with a view to selling the company to the highest bidder, arguing its shares are significantly undervalued after an ~85 % decline from 2021 and AUM has nearly halved from around £42.3bn to £22bn, and saying current leadership has not articulated a credible turnaround strategy, though Liontrust says it is focused on executing its existing plan and welcomes shareholder dialogue. (Financial Planning Today, 23/3/2026, 'GAM activist investors call for Liontrust sale')
A team of industry veterans has launched Nine Edge Wealth after acquiring Edinburgh‑based adviser RMS Limited, with ex‑England rugby star Matt Dawson backing the new financial planning and wealth management firm as a Non‑Executive Director; the business aims to offer jargon‑free, technology‑enabled financial planning focused on clear client outcomes, supported by initial investment from BP Marsh and Partners. (Financial Planning Today, 18/3/2026, 'Ex-England rugby star Dawson backs new Planning firm')
BRI Wealth Management has acquired West Midlands Wealth Management, a firm with around £50 m in assets under management, strengthening BRI’s presence and scale in the region as part of its ongoing acquisition strategy to expand adviser capability, client base, and geographic reach. (Financial Planning Today, 17/3/2026, 'BRI Wealth acquires £50m AUM West Midlands firm')
Fairstone has completed its largest takeover to date by acquiring West Midlands–based wealth manager Prosperity Wealth, adding around £1.5 bn in assets under management, roughly 80 staff including 49 advisers and more than 5,000 clients; the firm, which first joined Fairstone’s downstream buy‑out programme in 2023, will now serve as Fairstone’s West Midlands hub as the consolidator pushes toward a strategic goal of expanding its footprint and client base across the UK. (Financial Planning Today, 10/3/2026, 'Fairstone strikes biggest takeover deal to date')
Swedish wealth manager Söderberg & Partners has taken minority stakes in three more UK financial planning firms - MoneyWeb Financial Advisers in Scarborough, Oakwood Asset Management in Hertfordshire/Essex and Liberty Partnership Ltd in Lincolnshire - collectively bringing about £1.1 bn in client assets under advice or management, as it expands its UK footprint and supports partner firms with enhanced technology, expertise and scale. (Financial Planning Today, 5/3/2026, 'Swedes take stakes in 3 more UK Planning firms')
Swiss wealth manager and private bank J. Safra Sarasin Group has acquired a 71 % majority stake in fintech bank and investment firm Saxo Bank, combining client assets of over USD 460 billion and positioning the Swiss group to expand its digital and investment offering; Saxo’s founder Kim Fournais will retain about 28 % ownership and step down as CEO to chair the board, while Daniel Belfer - CEO of Bank J. Safra Sarasin - will become CEO of Saxo Bank, with the transaction having received all necessary regulatory approvals. (Financial Planning Today, 5/3/2026, 'Swiss wealth manager acquires fintech and investment firm Saxo')
7IM has acquired Chichester‑based financial planning and discretionary investment firm CPN Group, bringing more than 2,800 clients and over £750 m in assets under advice into its Amicus Wealth Management arm; the deal also sees CPN Investment Management’s two OEIC funds integrated into 7IM’s Investment Solutions division, and strengthens 7IM’s advice‑led wealth management platform in the South of England as part of its strategy to grow scale, capability and client service. (Financial Planning Today, 4/3/2026, '7IM acquires £750m AUM Sussex Financial Planning firm CPN')
In further news...7IM has merged its private client business with its Amicus Wealth arm, bringing adviser‑led discretionary and advice teams together under a single wealth management platform to streamline services, improve client outcomes and create a more integrated proposition as part of its broader strategy to grow scale and capability in the UK wealth market. (Financial Planning Today, 2/3/2026, '7IM merges private client business with Amicus Wealth')
Singapore-based PhillipCapital has completed its acquisition of Walker Crips Group, retaining the London-listed firm’s brand and office, while supporting its growth, technology investment, and service offerings. Key management, including joint CEOs Sean Lam and Christian Dougal, remain in place, and the company has delisted from the London Stock Exchange. (Financial Planning Today, 3/3/2026, 'Singapore wealth manager completes deal to buy Walker Crips')
Suttons Independent Financial Advisors, a Manchester‑based chartered financial planning and wealth management firm, has acquired Wilmslow‑based KSP Financial (which has around £10 m in assets under management), with KSP’s founder Keith Phillips remaining as a consultant; the deal expands Suttons’ regional footprint and forms part of its ongoing acquisition strategy that has helped lift its total AUM to over £330 m. (Financial Planning Today, 2/3/2026, 'Manchester Chartered Planner acquires £10m AUM Wilmslow firm')

Movers

Aberdeen Group has appointed Jonathan Asquith as interim Chair, replacing Sir Douglas Flint, who steps down on April 28. Asquith will receive a pro-rated fee of £475,000, pending regulatory approval, with interim board changes also announced. (Financial Planning Today, 27/3/2026, 'Aberdeen Group selects interim chair in board reshuffle')
Brooks Macdonald has appointed Will Hobbs as its new Chief Investment Officer from 7 April, bringing him in from Barclays Wealth Management where he was Head of Multi‑Asset Wealth and formerly Chief Investment Officer, with over 20 years’ experience including roles in investment strategy and equity analysis; the move, subject to regulatory approval, strengthens Brooks’ leadership as it seeks to build on recent positive net flows. (Financial Planning Today, 26/3/2026, 'Brooks hires former Barclays wealth head as new CIO')
Aberdeen Adviser has appointed Richard Denning as its new CEO, succeeding Noel Butwell, with Denning arriving from M&G where he was CEO of its Wealth Platform and previously served as COO at Aegon UK and helped found the Novia platform, bringing over 20 years’ experience in client management, distribution and operations as the firm seeks to build on recent product launches and market position. (Financial Planning Today, 25/3/2026, 'Aberdeen Adviser hires new CEO from M&G')
The industry‑wide Succession Alliance taskforce has added five new board members - Debbie Dry (Loyal North), Eugene Onwuka (7IM), Morven Grierson (MKC Wealth), Steve Gazard (Quilter) and Keith Richards, CEO of the Consumer Duty Alliance and former Personal Finance Society CEO, a respected financial services leader with decades of executive experience who now also chairs the Alliance that supports standards and good practice across the sector - to help steer work on improving succession planning and exit outcomes for financial planning firms. (Financial Planning Today, 20/3/2026, 'Planner succession taskforce adds board members')
Caroline Rainbird, former Chief Executive of the Financial Services Compensation Scheme (FSCS) - where she led the organisation through the COVID‑19 pandemic and held senior roles in operations, transformation and regulation across a nearly 40‑year financial services career - has been appointed Non‑Executive Director (NED) at Paradigm Norton Financial Planning, following a governance review that separated board and executive responsibilities; she will serve an initial three‑year term focusing on governance, compliance and strategic oversight to support the firm’s growth. (Financial Planning Today, 17/3/2026, 'Former FSCS CEO joins Paradigm Norton as NED')
Noel Butwell, CEO of Aberdeen Adviser, has announced he is stepping down and will leave the business in the coming months after more than 20 years with the firm, having joined in 2003 and led the Adviser division since it was established as a separate unit in 2019; he will remain in post until a successor is appointed to ensure continuity, reflecting his long service through major phases of the business’s development including platform launches and leadership across financial planning units. (Financial Planning Today, 16/3/2026, 'Aberdeen Adviser CEO steps down')
Ben Surtees, former Jupiter Asset Management Fund Manager specialising in Asia ex Japan equities, has joined IFA firm Thomson Tyndall to provide bespoke financial advice to families and businesses from Midhurst, Sussex. (Financial Planning Today, 12/3/2026, 'Former Jupiter fund manager joins Thomson Tyndall')
Rathbones has appointed Bruce Saunderson as Senior Director of wealth planning based in Glasgow, bringing over 20 years’ experience advising private clients, families and business owners from his previous role as Private Client Director at Trinity Bridge and senior positions at firms including PwC and Grant Thornton, as the firm bolsters its wealth planning expertise to support growth across Scotland and Northern Ireland. (Financial Planning Today, 11/3/2026, 'Rathbones adds Scots private client specialist')
A former apprentice, Daniel Frampton FPFS, is one of four recent internal appointments to the board at Acumen Financial Planning in Burscough, West Lancashire, joining Cathy Holme, Jon Landy, and Celia Evans. Daniel joined the firm in September 2018 on an apprenticeship, completing his initial Diploma in Financial Planning, then becoming a Chartered Financial Planner, Fellow of the Personal Finance Society, and a Chartered Wealth Manager after a CISI Masters Diploma. (Financial Planning Today, 10/3/2026, 'From apprentice to board director at his Financial Planning firm')
Chartered Financial Planner Alan Whittle FPFS has been appointed as a new Director of the Personal Finance Society (PFS) board, bringing around 20 years of financial services experience - including leadership roles within the CII/PFS such as President and Regional Chair - and pledging to support professional standards, strategic direction and member engagement; Adam Harper, Executive Director of strategy, advocacy and professional standards at the CII Group, has also joined the board, with both appointments part of ongoing efforts to strengthen the PFS’s leadership and value for members. (Financial Planning Today, 9/3/2026, 'Chartered Financial Planner joins PFS board')
Craven Street Wealth has appointed Caroline Hawkesley as its new Managing Director, bringing her in from Progeny where she was most recently UK Managing Director and previously Chief Operations Officer, and she will lead the integration of recent acquisition Pharon Independent Financial Advisers as the southern‑based Chartered Financial Planning firm - founded in 2019, backed by Quanta Group and managing around £3 bn in client assets with a team of about 120 including 30 financial planners - continues its growth. (Financial Planning Today, 5/3/2026, 'Craven Street Wealth turns to Progeny for new MD')