Financial Services newsletter Friday 1st May 2026

Financial Services News

Fairstone has partnered with Saturn AI to launch the Fairstone Co-Planner, an AI-powered transcription and meeting management tool. Since its introduction in November, the tool has saved advisers 2,000 hours by streamlining client meeting processes. It has been used in over 4,000 meetings, enhancing client interactions and freeing up adviser time. Fairstone, managing over £21bn in client assets, aims to grow to £40bn by 2030. (Financial Planning Today, 30/4/2026, 'Fairstone adds AI tool')
St. James’s Place (SJP) reported a 10% drop in Q1 net inflows to £1.53bn, despite a 3% rise in gross inflows (£5.3bn) and a slight increase in funds under management retention (95.3%); closing funds under management grew 15% year-on-year to £216.94bn but fell 1% from December 2025, with CEO Mark FitzPatrick attributing the results to global market declines while emphasizing the value of financial advice.(Financial Planning Today, 29/4/2026, 'Net flows fall 10% for SJP in Q1')
Women made up 42% of the 130 Chartered Institute for Securities & Investment (CISI) award winners in 2026, up from 37% in 2025, with notable achievements celebrated at Mansion House, London, including Mel Latham winning the CISI Level 7 Diploma in Advanced Financial Planning. (Financial Planning Today, 29/4/2026, 'Women make up 2 in 5 CISI award winners')
According to the Financial Planning Growth Index, 70% of Financial Planning firms believe AI will not impact headcount in 2026, though 13% expect reduced hiring; AI is seen as a driver of administrative and planning efficiencies, with 26% planning to develop AI capabilities and 34% upgrading systems within three years, reflecting optimism about growth and technological advancements in the sector. (Financial Planning Today, 28/4/2026, 'Financial Planning firms say AI won’t lead to job losses')
Quilter achieved record core net inflows of £3.1bn in Q1 2026, a 35% year-on-year increase, with group assets under management rising to £141.9bn; strong platform inflows and growth in both affluent (£2.8bn net inflows) and high net worth (£214m net inflows) segments highlight its momentum, despite geopolitical challenges, as the firm continues to focus on advice-led growth and operational efficiency. (Financial Planning Today, 22/4/2026, 'Quilter inflows hit record £3bn in Q1 but assets take hit')
Over 99% of Schroders shareholders approved a £9.9bn takeover by US investment firm Nuveen, marking the end of the Schroders family’s 200-year ownership; the deal, retaining the Schroders brand and London as a key hub, will create a combined entity managing $2.5trn in assets, with CEO Richard Oldfield continuing to lead, pending regulatory approval expected by Q4 2026. (Financial Planning Today, 17/4/2026, 'Schroders' shareholders back £9.9bn takeover of firm')

The Society of Pension Professionals’ 2026 AI Survey reveals that AI adoption in the pensions industry has reached 100%, up from 87% in 2025. Respondents highlighted increased speed (53%), personalisation (16%), and cost reduction (16%) as key benefits, while concerns about inaccuracy (53%) and data protection (21%) remain the biggest risks. Despite barriers like organisational nervousness (21%) and lack of understanding (16%), the industry is moving beyond experimentation, with 69% expecting AI to support up to 50% of services in the near future. (Financial Planning Today, 13/4/2026, 'Use of AI now 100% across pensions industry')
Women in UK financial services earn nearly £30,000 less than men, with the hourly gender pay gap widening to 25%, according to eFinancialCareers’ 2026 Compensation Report. Average base salaries are £128,394 for men and £99,044 for women, with fewer women in senior roles exacerbating the disparity. The report also notes a 20% transatlantic pay gap, though UK managing directors out-earn their US counterparts due to bonus-heavy pay structures. (Financial Planning Today, 13/4/2026, 'Women earn £30k less in UK financial services')
Secure top-tier Financial Services talent - Finding the perfect fit for your team does not have to be a slow process. We use our deep industry roots and vast connections to match you with standout professionals quickly. Partner with us to bring in skilled experts who will stay for the long haul and drive real growth for your business. (IDEX Consulting news, 'Secure top-tier Financial Services talent')
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 - 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')

Mergers and Acquisitions

Private-equity backed MWA Financial acquired Wiltshire-based Hawthorn Financial Services, adding over 70 families to its client base and bringing total assets under administration (AUA) to £950m across nearly 2,500 clients, as part of its strategy to build a national financial advice business. (Financial Planning Today, 29/4/2026, 'MWA acquires £26m AUA Wiltshire adviser')
NextWealth’s 2026 Consolidation of Advice Report highlights a shift in acquisition strategies, with consolidators prioritising data quality, cultural alignment, and governance over scale; four operating models - Provider-backed, PE scale-led, PE optimisation-led, and HNW-focused - shape strategies, while poor data and misaligned cultures are key deal-breakers, reflecting a move toward disciplined integration and value-driven growth. (Financial Planning Today, 28/4/2026, 'Acquisitions driven by ‘data and culture’ rather than scale')
Shackleton has acquired Surrey-based Arundel Wealth Management, a firm specialising in financial planning for professional athletes. The acquisition adds over £200m in assets under advice and strengthens Shackleton's presence in the South East. This move aligns with Shackleton's strategy to expand its specialist capabilities and national footprint. (Momodou Musa Touray, 30/4/2026, Money Marketing, 'Shackleton buys Surrey IFA to boost sports advice capability')
In further news...Shackleton has acquired Hurst Point Group, creating one of the UK’s largest independent Financial Planning firms with £17.5bn in assets under advice/management, 44,000+ clients, 233 advisers, 38 offices, and 850+ employees; the deal, Shackleton’s largest to date, emphasises cultural alignment and aims to enhance technology, compliance, and client service, pending regulatory approval. (Financial Planning Today, 24/4/2026, 'Shackleton to acquire £7bn AUM Hurst Point')
Aptia has acquired Pension Decision Service from Mercer to enhance its personalised, one-on-one guidance for pension scheme members, aligning with its mission to provide clear, expert support for complex retirement decisions; the acquisition strengthens Aptia’s global pension administration services, which currently support 6 million pension holders across 1,100 clients. (Financial Planning Today, 20/4/2026, 'Aptia acquires Mercer’s Pension Decision Service')
Confier Wealth has expanded its SIPP and SSAS services through the acquisition of Robert Graham Trustees Ltd, Robert Graham Financial Ltd, and SSAS portfolios from Channack Ross Ltd and Gibbs Denley Trustees Ltd; these acquisitions, under the Intrusted Pension Services umbrella, enhance Confier’s capabilities and client base, with the firm now administering £1.2bn in assets for 2,500 clients and planning further growth in the fragmented pension market. (Financial Planning Today, 16/4/2026, 'Pensions provider makes trio of acquisitions')
Moore Kingston Smith LLP has expanded into the South of England with the acquisition of Moore South, adding five offices and 92 staff to its network; this marks the firm’s 10th acquisition since receiving private equity backing, aligning with its strategy to build a robust multi-disciplinary practice, now comprising over 120 partners and 1,600 staff across the UK and Ireland. (Financial Planning Today, 16/4/2026, 'Moore Kingston expands with 10th acquisition')
Finli Group has completed six acquisitions in Q1 2026, adding £252m in assets and bringing its total AUM to over £7.5bn. The acquisitions include Lancashire-based Adrian Smith Wealth Management, Wrexham-based GM Wealth Management, JSP Financial Services in Birmingham, Cobham-based Roxborough Wealth Management, and two client banks in Basingstoke and Great Missenden. Backed by JC Flowers & Co., the firm now serves over 20,000 clients with a team of 100+ Financial Planners and plans to maintain its acquisition momentum throughout the year. (Financial Planning Today, 16/4/2026, 'Finli adds £252m AUM with 6 acquisitions')
Absolute Financial Group has acquired Padstone Financial Management (Hereford), Campton Financial Services (Surrey), and Iceni Financial Advisers (Norwich), adding £255m in assets under advice and bringing its total AUA to £1.55bn. Backed by a £115m equity commitment from Inflexion Private Equity Partners, Absolute plans to unify advisory businesses under a single national brand, with Absolute Financial Management serving as the central hub. (Financial Planning Today, 15/4/2026, 'Absolute adds £255m with trio of Planner firms')
Standard Life has acquired Aegon UK for £2bn, creating one of the UK’s largest retirement savings and income businesses with 16 million customers and £480bn in assets under advice. The deal, funded through cash, debt, and shares, will make Standard Life the UK’s second-largest workplace pensions platform and is expected to deliver £110m in annual cost synergies by 2031, alongside £0.4bn in additional excess cash over five years. (Financial Planning Today, 15/4/2026, 'Standard Life snaps up Aegon UK for £2bn')
One Four Nine Wealth has acquired York-based Mowatt Financial Planning, rebranding the firm under its name and bringing total client assets to £2.2bn. This marks the group’s twelfth acquisition since its 2021 launch, expanding its team to over 30 Financial Planners serving 5,500 clients. The deal aligns with One Four Nine’s strategy to preserve local presence while leveraging national scale and resources. (Financial Planning Today, 14/4/2026, 'One Four Nine acquires York Financial Planner')
Newly launched Nine Edge Wealth has acquired Wealth Professional, an adviser firm with £340m in assets under management and four advisers, for an undisclosed sum. This marks Nine Edge’s second Scottish acquisition, following RMS Financial Ltd in March. Wealth Professional, established in 2011, serves clients across the UK and runs an Adviser Academy to develop new talent. Nine Edge CEO Derek Miles praised the firm’s strong reputation and UK footprint, while Wealth Professional’s Douglas Mitchell highlighted Nine Edge’s focus on technology to enhance client outcomes and adviser efficiency.(Financial Planning Today, 9/4/2026, 'Nine Edge snaps up £340m AUM Wealth Professional')
London-based Vintage has acquired Buckinghamshire firm Financial Management Independent Financial Advice (FMIFA), adding £400m in assets under advice and creating a combined business managing £2.14bn in client assets. FMIFA, founded by Philip Harper over 30 years ago, specialises in retirement planning, wealth management, and equity release. Vintage, partly owned by Swedish wealth manager Söderberg & Partners, plans to leverage the acquisition to enhance technology and AI capabilities for improved client service.(Financial Planning Today, 8/4/2026, 'Vintage snaps up £400m AUA Buckinghamshire adviser')
Wealth manager The Private Office (TPO) has acquired Leeds-based HEB Wealth, adding £100m in assets under management and bringing TPO’s total AUM to over £3.1bn. This marks TPO’s first acquisition in seven years. HEB’s Managing Director Steve McDermott and Director Elaine Merritt will join TPO, with the deal described as a strong cultural and strategic fit. TPO, backed by a minority investment from Goldman Sachs Alternatives, continues to prioritise organic growth while considering acquisitions that align with its client-focused principles.(Financial Planning Today, 8/4/2026, 'The Private Office acquires £100m AUM Leeds Planner')
W1M has acquired Vermeer Partners, adding £2bn in AUM and increasing its total to £27bn. This is W1M’s first acquisition since the 2024 merger of Waverton and London & Capital. Vermeer, founded in 2018, serves HNWs, intermediaries, charities, and trusts. Former Vermeer CEO Simon King will stay on in an advisory role during the integration. W1M CEO Guy McGlashan praised Vermeer’s client service and investment expertise, while Vermeer highlighted the benefits of W1M’s broader capabilities for its clients. (Financial Planning Today, 2/4/2026, 'W1M completes takeover of £2bn AUM Vermeer')
Tavistock has completed its £6m acquisition of Lifetime Financial Management, aiming to become an "industry disruptor" by rolling out a hybrid advice model under its fintech brand, Vertex. The rebranded business will leverage AI and technology to boost adviser productivity and expand access to affordable, human-centric financial advice. Tavistock plans to address the "neglected 91%" of UK consumers without financial advice, using Lifetime's digital-first platform to support lower-value clients. CEO Brian Raven highlighted the acquisition as a step toward providing financial peace of mind for all, while Lifetime CEO Ian Dickinson expressed excitement for the partnership's shared mission. (Financial Planning Today, 2/4/2026, 'Tavistock aims to be ‘industry disruptor’ after takeover')
Clifton Wealth Partnership has acquired Essex-based Cutting & Carter, adding 500 clients and £60m in AUM. The directors will stay for two years to ensure a smooth transition. This is Clifton’s third acquisition in 2026, as it continues its expansion under the Clifton Group, which manages £3.55bn in assets. (Financial Planning Today, 1/4/2026, 'Clifton adds Essex Planner firm in 3rd acquisition this year')
Evelyn Partners has completed the sale of its employee benefits arm, EPFS, to global insurance group Howden for an undisclosed sum. The move aligns with Evelyn’s focus on wealth management ahead of its £2.7bn acquisition by NatWest, set to complete this summer. EPFS’s 38-member team, led by Gareth Sawyer, joins Howden, enhancing its UK employee benefits offering. (Financial Planning Today, 1/4/2026, 'Evelyn completes sale of employee benefits arm to Howden')

Movers

FNZ has appointed Andy Brodie, former COO of Rathbones, as Group Head of its UK business. Brodie, who joined FNZ two months ago, brings over 15 years of financial services experience. He replaces Alastair Conway, who transitions to Vice Chairman of client coverage. FNZ aims to strengthen its UK leadership as it continues to expand its platform offerings and grow its market presence. (Momodou Musa Touray, 29/4/2026, Money Marketing, 'FNZ appoints ex-Rathbones COO to head up UK business')
Paul Darvill, with over 30 years of experience at Talbot and Muir, will join SeaBridge SSAS as Head of Technical on June 1, reuniting with Co-Founder Nathan Bridgeman; his appointment aligns with SeaBridge’s focus on service, technical excellence, and plans for a new adviser portal and enhanced SSAS services in 2026. (Financial Planning Today, 23/4/2026, 'Darvill joins SeaBridge after 30yrs at Talbot and Muir')
Evelyn Partners has appointed Emma Arnold as Business Development Manager for the North West, based in its Liverpool office. A qualified Financial Planner with two decades of experience, Ms. Arnold joins from Aberdeen, where she held a similar role. She will support Evelyn’s growth ambitions in the region. Evelyn, currently being acquired by NatWest Group, manages £69bn in assets. (Financial Planning Today, 10/4/2026, 'Evelyn hires BDM from Aberdeen for North West boost')
Rathbones has appointed Dolores Geaney as Managing Director for Rathbones in Ireland, marking a key step in establishing an EU presence. With 30 years of financial services experience, including roles at Davy, Investec, and Wells Fargo, Ms. Geaney will focus on building relationships across local and expatriate networks. The move supports Rathbones’ international growth ambitions and ability to serve EU clients. Rathbones recently reported a 54% rise in pre-tax profits in 2025, with funds under management reaching £115.6bn, boosted by its merger with Investec Wealth and Investment. (Financial Planning Today, 8/4/2026, 'Rathbones adds Dublin MD to establish EU presence')
Wren Sterling has appointed Gareth Edwards as Financial Planning Director, succeeding Austin Hutchinson, who moves to the role of Chief Growth Officer. Mr. Edwards, previously Regional Director for the North, will oversee day-to-day leadership of Financial Planning. Mr. Hutchinson will focus on organic growth, adviser recruitment, and supporting the firm’s M&A program. (Financial Planning Today, 8/4/2026, 'Wren Sterling appoints new Financial Planning director')
Former Olympic and Commonwealth boxing champion Delicious Orie has joined Attivo’s Financial Planning Academy to pursue a career as a Chartered Financial Planner. After retiring from boxing at 28, Mr. Orie, who holds a Level 4 Diploma in Regulated Financial Planning, is now working towards his Level 6 Advanced Diploma. He aims to be fully qualified by year-end and plans to use his platform to promote financial education among young people. Attivo CEO Jo French praised his enthusiasm, calling him a valuable addition to the firm and the Financial Planning profession. (Financial Planning Today, 7/4/2026, 'Olympic boxer joins Financial Planner Attivo')