Financial Services newsletter Friday 29th May 2026

Financial Services News

DeVere has launched its first licensed Canadian operation in Toronto after FSRA approval, expanding its international footprint to meet rising demand from globally mobile and expat clients for cross-border financial advice spanning insurance, protection, tax, retirement, estate planning, and wealth structuring. (Financial Planning Today, 27/5/2026, 'DeVere expands into Canada')
Owen James Events is launching a new Festival of Finance in Birmingham on 29 September, bringing together around 500 financial planners, wealth managers and industry leaders for a one-day event focused on strategy, innovation, CPD and sector insight. (Financial Planning Today, 26/5/2026, 'Owen James launches Festival of Finance event')
New Continuum research suggests women are now slightly more likely than men to seek professional financial advice, with 20% of women saying they expect to use an independent financial adviser in future versus 19% of men. (Financial Planning Today, 22/5/2026, 'Women surpass men for first time in seeking financial advice')
Fairstone has converted four Dimensional-powered MPS portfolios into new IFSL Fairstone Systematic funds with about £600m in assets, a move it says will lower client charges by around 20% while maintaining the same investment approach and improving efficiency. (Financial Planning Today, 22/5/2026, 'Fairstone converts four MPS portfolios to funds')
The FCA has launched a new Scale-up Unit to give fast-growing, solo-regulated financial services firms tailored regulatory support, as part of a wider push to help the sector expand sustainably and contribute more to UK economic growth. (Financial Planning Today, 20/5/2026, 'FCA opens business growth unit to help firms scale up')
The FCA has warned financial planning firms to ignore scam text messages falsely claiming to be from the regulator about a data breach, stressing that genuine MyFCA login codes will not include an 0800 number and that it will never ask for bank details, PINs or passwords. (Financial Planning Today, 19/5/2026, 'FCA warns of scam data breach text messages')
Aviva reported a strong start to 2026, with wealth net flows rising 49% to £3.3bn in Q1, although protection sales dipped 2% to £88m and retirement sales fell to £1.1bn. (Financial Planning Today, 14/5/2026, 'Aviva reports 49% rise in wealth net flows in Q1')
Fidelity International has launched two new global equity funds, a Global Smaller Companies Fund and a Global Founders Fund, giving investors access to more differentiated strategies for global equity exposure. (Financial Planning Today, 12/5/2026, 'Fidelity launches 2 global equity funds')
UK IFA consolidation hit a record 133 deals in 2025, up from 50 in 2020, as private equity-backed buyers and larger wealth platforms accelerated acquisitions of smaller firms amid adviser retirements, rising regulation and growing interest from US investors. (Financial Planning Today, 11/5/2026, 'IFA consolidation climbs almost a third in five years')
Quilter Financial Planning has added eight new appointed representative firms to its network: Quantus Wealth Management, Marston & Co, Control Point Wealth, Alto Integra Wealth Management, AK Private Wealth, Everstone Wealth, Henley & Co Wealth Management, and Sterling Financial Wealth, with Managing Director Warren Vickers saying more advisers are choosing the model to launch their own businesses while retaining regulatory, operational and investment support. (Financial Planning Today, 7/5/2026, 'Quilter adds 8 new ARs to network')

The FCA has launched a review of the claims management market over concerns about aggressive marketing, misleading adverts and unfair fees, after already forcing changes to 800 adverts, helping more than 28,000 consumers exit contracts for free and securing fee reductions from three CMCs that protected over 500,000 consumers. (Financial Planning Today, 6/5/2026, 'FCA launches claims management review')
Söderberg & Partners Platform, Seccl and Plannr have launched phase two of their API-first integration, enabling advisers to open and manage platform accounts end-to-end in one system, backed by businesses with significant scale including Söderberg’s £81bn in AUM/AUA, Seccl’s £3bn in portfolios across 300,000+ investors, and nearly 60,000 new investors onboarded since January. (Financial Planning Today, 5/5/2026, Söderberg, 'Seccl and Plannr ramp up integration')
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')
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 – we share what financial advisers should know and the action they should take now. (IDEX Consulting news, 'Biggest challenges facing Financial Advisers')

Mergers and Acquisitions

Fairstone is accelerating its consolidation strategy with plans for more than 20 acquisitions this year, having already completed 8 deals in Q1 that added £2bn in assets under management, with another 13 acquisitions in the pipeline. (Financial Planning Today, 27/5/2026, Fairstone plans 20+ acquisitions in 2026)
AAB Wealth has acquired Jane Smith Financial Planning for an undisclosed sum, lifting its assets under advice to more than £2.5bn and adding the Olney-based firm and its nine staff to the group. (Financial Planning Today, 21/5/2026, AAB Wealth acquires Bucks Chartered Planner)
French wealth manager Groupe Allen has entered the UK market by acquiring London-based Altyx Financial Planning for an undisclosed sum, giving it a local foothold to serve French nationals and cross-border clients with international wealth planning needs. (Financial Planning Today, 13/5/2026, 'French wealth manager enters UK market with IFA deal')
Absolute Financial Group has added £577 million in assets under advice through the acquisitions of Allied Financial Services, Millcroft Wealth, Mackenzie Financial Planning, and RSJ Financial Planning, strengthening its presence in the North West as Chief Executive David Carter continues to scale the business through targeted deals.(Financial Planning Today, 7/5/2026, 'Absolute adds £577m in AUA with 4 acquisitions')
Corbel has completed its 18th acquisition since 2023 under its succession model, backed by £10m in funding from Beechbrook Capital and a further £500,000 investment in its Finpath technology platform, as the independent network grows its 189-member base toward a target of 250 advisers by end-2026. (Financial Planning Today, 7/5/2026, 'IFA network Corbel lands 18th acquisition')
Aberdeen Investments will take over management of Herald Investment Trust and the £1.6bn Herald Worldwide Technology Fund under a deal with Saba Capital that ends their standoff and could provide a template for resolving activist investor disputes in the investment trust sector. (Financial Planning Today, 7/5/2026, 'Aberdeen strikes deal with Saba to end standoff')
Isio has agreed to acquire AI-led fintech and investment firm Collidr, subject to FCA approval, in a deal that would bolster its wealth and MPS capabilities while adding a business that manages more than £3.8bn in assets across technology and regulated investment management. (Financial Planning Today, 6/5/2026, 'Isio acquires AI-driven fintech')
London-based advice firm Advies has acquired St Andrews Financial, adding about £200m in assets under advice and 300 clients, with founder James Hickson joining as executive IFA as the business is rebranded and integrated over the next year. (Financial Planning Today, 6/5/2026, 'London-based Planner acquires £200m AUM boutique IFA')
Clifton Wealth Partnership has acquired Dukes IFA, adding 170 clients and £43m in AUM in its fourth deal of the year, as the Bristol-based consolidator continues its acquisition drive backed by a business serving 15,000+ clients with £3.7bn in AUM. (Financial Planning Today, 5/5/2026, 'Clifton acquires £43m AUM Herts Financial Planner')
WBR Group has acquired Carpenter Rees’ SSAS book as part of its long-term expansion strategy, adding to a recent deal trail that includes Standard Life’s £403m SSAS book and Rowanmoor’s 3,500-SSAS portfolio, while moving Carpenter Rees clients onto WBR’s dedicated account-manager model. (Financial Planning Today, 5/5/2026, 'WBR acquires Carpenter Rees’ SSAS book')
Shackleton has acquired Surrey-based Arundel Wealth Management for an undisclosed sum, adding more than £200m in assets and strengthening its presence in the South East as it expands its specialist financial planning offering for sports professionals. (Financial Planning Today, 1/5/2026, 'Shackleton acquires £200m AUA sports specialist Planner')
The Private Office has secured FCA change of control approval for a minority investment from Goldman Sachs Alternatives, giving the Chartered financial planning firm additional backing for its next phase of growth while keeping its focus on independent, planning-led advice. (Financial Planning Today, 1/5/2026, 'Goldman Sach's stake in The Private Office approved by FCA')

Movers

Tavistock has appointed former Lifetime CEO Ian Dickinson to its board as a Non-Executive Director following its £6m acquisition of a controlling stake in Lifetime, strengthening its push to scale AI-powered hybrid advice and support its broader Vertex rebrand and industry disruption strategy. (Financial Planning Today, 29/5/2026, 'Ex-Lifetime CEO joins Tavistock board in AI boost')
Former Pensions Minister Guy Opperman has joined pension tracing fintech Raindrop as a Non-Executive Director, as the business looks to accelerate growth across the UK pensions and wealth market after helping recover more than £1.6bn from over 172,000 lost pension pots. (Financial Planning Today, 22/5/2026, Former pensions minister joins fintech board)
Cooper Parry Wealth has appointed Chris Davies as Client Relationship Director and Paul Holbrook as Business Development Director to strengthen its presence in Birmingham and across the Midlands, with Davies set to support business owners and senior executives through major life and wealth events, while Holbrook brings more than 20 years of financial services experience, including 14 years at HSBC, where he most recently served as Regional Director for the East Midlands. (Financial Planning Today, 15/5/2026, 'Cooper Parry sets sights on Midlands growth with senior hires')
The Investment Association has appointed former Treasury Financial Services Director John Owen as its new Chief Executive, succeeding Chris Cummings and bringing extensive experience in regulation, public policy and financial services strategy. (Financial Planning Today, 15/5/2026, 'IA selects ex-senior civil servant as new CEO')
TISA Chief Executive Carol Knight will step down in August after four years in the top role and 22 years with the organisation, with the trade body now beginning the search for her successor. (Financial Planning Today, 15/5/2026, Hunt for new TISA CEO begins as incumbent steps down)
The FCA has appointed Johan Sekora as Chief Operating Officer from the start of June and confirmed Simon Walls as Executive Director of Markets, strengthening its leadership team with Sekora bringing 25 years of financial services experience from SEB and HSBC, and Walls offering deep institutional knowledge built over two decades at the regulator and earlier experience at the Bank of England. (Financial Planning Today, 14/5/2026, 'FCA adds new Nordic AI specialist as COO')
Foster Denovo has promoted Chief Operating Officer Helen Lovett to the newly created role of Group Managing Director, where she will work alongside CEO Roger Brosch to drive strategy, financial performance and operational delivery across the business. (Financial Planning Today, 12/5/2026, 'Foster Denovo appoints group managing director')
Financial Planner Grant Lymer has joined Plymouth-based national advice firm Continuum as an Independent Financial Adviser, bringing nine years’ experience and a focus on retirement, investments, protection and estate planning. (Financial Planning Today, 8/5/2026, 'Financial Planner joins Continuum from One Four Nine')
The Chartered Insurance Institute has appointed Ben Turner as Executive Director of Member Engagement with immediate effect and Will Holt as Executive Director of Learning from 3 August, strengthening its leadership team with two senior hires: Turner was promoted from his role as Director of Engagement Strategy and brings 15 years’ experience in membership leadership across professional bodies, while Holt joins from ICAEW, where he was Managing Director of Education and training, having also held senior roles at Pearson College London. (Financial Planning Today, 1/5/2026, 'CII appoints two new executive directors')