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Financial Services

With experience across more than twelve financial service sectors and an established network of over 70,000 professionals we can connect specialist talent to the right business. Looking for a new financial services job or for exceptional talent? Take a look at our offering below.

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  • ​“My experience with Charlotte has been truly exceptional. From start to finish, she was consistently supportive, proactive, and genuinely invested in my success. Her positive attitude and approachable nature made the entire process smooth and reassuring. It never felt like just a job to her—she truly had my best interests at heart and went above and beyond to ensure I had everything I needed and felt confident every step of the way.”

    Charlotte Faherty, Senior Consulting, Financial Services
    Charlotte Faherty, Senior Consulting, Financial Services
  • ​“Thank you for all your help, Louise! Must say I’m very impressed with you and the way you have been so on the ball and efficient. I have registered with a few recruitment services and not one of them got back to me after my initial contact, but you have been amazing!”

    Louise Bibb, Regional Manager Financial Services
    Louise Bibb, Regional Manager Financial Services
  • ​“Lynn was amazing and had me set up with interviews within a day or two. I wouldn’t have managed this myself and I am so very grateful for all of her help and support during this process.”

    Lynn Wilson, Senior Consultant Financial Services
    Lynn Wilson, Senior Consultant Financial Services
  • "​Ashlea spent three years trying to contact me - that is tenacity!! It paid off because when I was ready to leave my job her name was very familiar to me, so I was happy to have a chat. She does her homework and does not try to fit a round circle into a square hole. She actually takes time and care in selecting the right candidates for the roles she has and therefore both parties are happy with the outcome. She was incredibly professional and responsive making sure that the interview and enrolment process was moving forwards quickly. She builds rapport easily and consequently, I find her very easy to talk to. Would highly recommend. Thank you Ashlea - I am happy to be working again!"

    Ashlea Walton, Client Director Financial Services
    Ashlea Walton, Client Director Financial Services
  • ​"I can't thank Alison MacMillan enough for her dedication and professionalism in helping me to secure a fantastic new role with one of the top companies in the UK. Friendly and approachable, she has been extremely supportive throughout the whole journey.She is extremely proactive, knowledgeable, polite, and supportive. She has a genuinely positive, can-do attitude and worked with me to better understand the roles that I was genuinely interested in - rather than blindly sending lists of unsuitable vacancies. Highly recommend."

    Alison MacMillan, Executive Director Financial Services
    Alison MacMillan, Executive Director Financial Services
  • ​"I can't thank Alex enough for the support and encouragement he gave me to secure my new job role. He really listened to what I was looking for, matched me with a great opportunity, and coached me throughout the application/interview process. Alex is professional yet approachable and would highly recommend him to anyone looking for work in Financial Services."

    Alex Merrick, Business Manager Financial Services
    Alex Merrick, Business Manager Financial Services
Risk & Compliance

Risk & Compliance

Our Risk & Compliance consultants know how difficult it is to attract highly skilled professionals who understand the complexities of the risk, compliance and regulatory market. They have ove...

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LATEST JOBS Financial Services

Business Development Associate (SME)

London
Negotiable

I'm working closely with a fantastic broker who're outperforming the market, to support them with their growth strategy over the next few years; whilst a proportion of growth will come via acquisition, recruiting top performing individuals who can help them to grow in new and existing markets remains a priority and your experience would be of interest to them. They're looking for a growth focused individual who wants to step up into a 360 sales role - this would suit someone who's been working within a SDR/BDR capacity or a consultant who enjoys the new business element. You will utilise their general insurance business to develop relationships to drive referrals - this is a high-impact role focused on identifying, engaging, and converting new SME clients (low value high volume) by delivering tailored employee benefits solutions that drive workforce well-being, retention, and performance. You'll be the face of their consultancy; building relationships from the ground up, taking time to understand client needs, and crafting compelling proposals that showcase their value across Group Risk, Health-care, Well-being, Pensions and Technology. The real selling point of this business is the culture and scope of opportunity as-well as the chance to be truly entrepreneurial. They continue to be the destination for top talent in the market and in my experience, it'd be hard to find a better combination of fantastic culture with global scope and ability to carve out your direction of travel. If you thrive in a consultative sales environment and have experience within Employee Benefits, please contact me to discuss further. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Business Development Manager - SME

London
Negotiable

I'm working closely with a fantastic broker who're outperforming the market, to support them with their growth strategy over the next few years; whilst a proportion of growth will come via acquisition, recruiting top performing individuals who can help them to grow in new and existing markets remains a priority and your experience would be of interest to them. They're looking for a BDM where you will utilise their general insurance business to develop relationships to drive referrals - this is a high-impact role focused on identifying, engaging, and converting new SME-sized (up to 350 lives) clients by delivering tailored employee benefits solutions that drive workforce well-being, retention, and performance. You'll be the face of their consultancy; building relationships from the ground up, taking time to understand client needs, and crafting compelling proposals that showcase their value across Group Risk, Health-care, Well-being, Pensions and Technology. The real selling point of this business is the culture and scope of opportunity as-well as the chance to be truly entrepreneurial. They continue to be the destination for top talent in the market and in my experience, it'd be hard to find a better combination of fantastic culture with global scope and ability to carve out your direction of travel. If you thrive in a consultative sales environment, have experience gained in a broker with a wide product knowledge (Pension, Risk, Health, Flex) and have a passion for helping businesses enhance their employee experience, please apply now. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Group Risk Consultant

London
Negotiable

I'm currently partnering with a fantastic broker that's outperforming the market and gearing up for significant growth over the coming years. They're looking to appoint a Group Risk Consultant (desk based) to manage a portfolio of SME clients, delivering tailored employee benefits solutions that support workforce well-being, retention, and performance. This is a consultative role, focused on building strong client relationships from the ground up as-well as leveraging these relationships to cross sell. What makes this opportunity unique is the culture, entrepreneurial freedom, and long-term growth potential. In my experience, it's rare to find a firm that offers this combination of support, ambition, and global scope - which is why they continue to attract top talent in the market. If you're someone who thrives in a consultative environment and is passionate about helping businesses elevate their employee experience, this role could be for you. Would best suit an account manager/associate consultant looking to step up or someone looking to move across from a risk insurer. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Remote Paraplanner

Bath
£35000 - £45000 per annum + Competitive + benefits + study support

IDEX Consulting are working with a leading Advisory group who require an experienced Paraplanner to join their growing support team. This is a continued part of the growth strategy which has seen additional headcount, revenue and FUM come into the business during 2025 due to acquisitions across the UK. Duties include; Preparing pre-approval documentation prior to report writing Utilising all technology to produce accurate solutions for clients Providing accurate, timely and compliant suitability reports Ensuring all advice documentation is compliant according to FCA guidelines Working with the adviser to gather sufficient client information The successful candidate will be Level 4 Diploma qualified and comfortable working in a remote role. There will be an expectation to travel to the central offices based in Cardiff every 4 weeks. The business offers a true pathway to progress which, in this instance, may be towards an Advisory capacity or as a more senior member of the paraplanning/support team. Experience within an acquisitive IFA business is beneficial. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Remote Paraplanner

Bristol
£35000 - £45000 per annum + Competitive + benefits + study support

IDEX Consulting are working with a leading Advisory group who require an experienced Paraplanner to join their growing support team. This is a continued part of the growth strategy which has seen additional headcount, revenue and FUM come into the business during 2025 due to acquisitions across the UK. Duties include; Preparing pre-approval documentation prior to report writing Utilising all technology to produce accurate solutions for clients Providing accurate, timely and compliant suitability reports Ensuring all advice documentation is compliant according to FCA guidelines Working with the adviser to gather sufficient client information The successful candidate will be Level 4 Diploma qualified and comfortable working in a remote role. There will be an expectation to travel to the central offices based in Cardiff every 4 weeks. The business offers a true pathway to progress which, in this instance, may be towards an Advisory capacity or as a more senior member of the paraplanning/support team. Experience within an acquisitive IFA business is beneficial. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Remote Paraplanner

Swansea
£35000 - £45000 per annum + Competitive + benefits + study support

IDEX Consulting are working with a leading Advisory group who require an experienced Paraplanner to join their growing support team. This is a continued part of the growth strategy which has seen additional headcount, revenue and FUM come into the business during 2025 due to acquisitions across the UK. Duties include; Preparing pre-approval documentation prior to report writing Utilising all technology to produce accurate solutions for clients Providing accurate, timely and compliant suitability reports Ensuring all advice documentation is compliant according to FCA guidelines Working with the adviser to gather sufficient client information The successful candidate will be Level 4 Diploma qualified and comfortable working in a remote role. There will be an expectation to travel to the central offices based in Cardiff every 4 weeks. The business offers a true pathway to progress which, in this instance, may be towards an Advisory capacity or as a more senior member of the paraplanning/support team. Experience within an acquisitive IFA business is beneficial. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Remote Paraplanner

Newport
£35000 - £45000 per annum + Competitive + benefits + study support

IDEX Consulting are working with a leading Advisory group who require an experienced Paraplanner to join their growing support team. This is a continued part of the growth strategy which has seen additional headcount, revenue and FUM come into the business during 2025 due to acquisitions across the UK. Duties include; Preparing pre-approval documentation prior to report writing Utilising all technology to produce accurate solutions for clients Providing accurate, timely and compliant suitability reports Ensuring all advice documentation is compliant according to FCA guidelines Working with the adviser to gather sufficient client information The successful candidate will be Level 4 Diploma qualified and comfortable working in a remote role. There will be an expectation to travel to the central offices based in Cardiff every 4 weeks. The business offers a true pathway to progress which, in this instance, may be towards an Advisory capacity or as a more senior member of the paraplanning/support team. Experience within an acquisitive IFA business is beneficial. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

LATEST CONTENT

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Blog Thumbnails   New Size (38) Financial Services
How leading wealth advisors are using AI to stay competitive

Research shows that more and more wealth management forms are embedding AI-driven analytics into their client advisory processes, with benefits ranging from improved portfolio performance to, faster response times and a reduction in compliance management. According to Morgan Stanley’s 2024 Wealth Management Technology report, robo-advisory assets under management grew by 58% year-on-year, with AI driving much of this expansion through improved performance and client experience. Furthermore, 68% of financial services firms (including wealth managers) now prioritise AI in risk management and compliance initiatives (KPMG: The generative AI advantage in financial services).With the value proposition only growing, industry forecasts project AI managed assets to reach over $6 trillion by 2027 (Netguru: AI in wealth management, transforming financial planning and investment approaches). Deloitte projections cited by the World Economic Forum strikingly predict that by 2028, AI driven investment tools will become the primary source of advice for around 80% of retail investors (World Economic Forum: AI, wealth management and trust: could machines replace human advisors?).Whilst, some advisors have raised concerns about AI replacing them, firms that are integrating AI throughout all of their operational practices are reporting 25-40% improvements in operational efficiency. The threat therefore, isn’t AI, it’s being left behind whilst competitors embrace it. How advisors are embracing AI The practical applications extend far beyond robo-advisors. According to an Accenture survey of 500 financial advisors, 96% believe generative AI can revolutionise client servicing and investment management, with 97% foreseeing significant impacts on their work (Accenture: Using generative AI to power growth for wealth managers).Current implementations include:Portfolio management and rebalancing - AI-driven tools enable dynamic asset allocation adjustments that respond to market shifts faster than manual processes. Informa report that 76% of firms have experienced efficiency gains through AI integration, particularly in portfolio rebalancing operations (Informa: Navigating AI in wealth management, balancing tech and human touch).Compliance and risk management - EY estimate that AI-powered compliance tools can reduce compliance management time by 75%. In a heavily regulated industry, it’s essential firms continuously assess how they can reduce risk exposure. Client communication and service - Firms are increasingly adopting chatbots, and automated reporting systems to handle routine client interactions, allowing advisors to dedicate more time to complex planning conversations and relationship building.Predictive analytics - Advanced AI systems can identify patterns in client behaviour, market conditions, and risk factors that would be impossible for humans to detect manually, enabling improved insight driven conversations.Challenges The real competitive advantage often comes from understanding and overcoming specific challenges that can derail implementation.Data privacy and regulatory complianceThe 2025 GDPR amendments mandate that businesses need to provide clear explanations around how AI processes personal data, with consumers reserving the right to contest automated decisions. The SEC has also prioritised AI oversight in 2025 examinations, with particular focus on AI note-taking tools and automated client communications. The margin for error is shrinking fast.How advisors can stay compliant Implement AI systems with built-in audit trails that document decisions and data access pointsEstablish clear client disclosure protocols before deploying any AI tools in client-facing situationsCreate a compliance review process specifically for AI outputs, not just human advisor recommendationsPartner with suppliers and specialists who can demonstrate regulatory compliance documentation, not just product features.AI bias and decision qualityExperts advise that AI systems can inadvertently perpetuate bias, especially in areas like portfolio recommendations and client segmentation. Regulatory authorities including the FTC, DOJ, and Consumer Financial Protection Bureau have signalled this is an enforcement priority.Beyond regulatory risk, comes quality risk. AI systems trained on historical data can make recommendations that don't account for unprecedented market conditions or individual client circumstances that fall outside normal patterns.How firms can minimise risk Never deploy AI decision-making systems without human oversight and approval processesRegularly audit AI recommendations against diverse client portfolios to identify potential bias patternsTrain employees to recognise when AI suggestions don't align with client-specific circumstancesMaintain detailed documentation of when and why you override AI recommendationsTest AI systems on edge cases and outlier scenarios, not just typical client profiles.The trust gapWhen markets become volatile or personal circumstances become complex, clients need human judgement and empathy.The firms who are winning aren't choosing between AI and human advisors; they're optimising practice by strategically combining both.How firms can maximise adoption Position AI as your team's enhancement tool, not a replacement for advisor relationshipsBe transparent with clients about where and how AI contributes to their portfolio managementReserve complex, emotionally charged conversations (estate planning, divorce, business succession) for human advisorsUse AI-generated insights as conversation starters, not final recommendationsTrain advisors to explain AI recommendations in plain language that builds rather than erodes confidenceIneffective or lack of AI strategies The biggest mistake firms make is adopting AI tools without a clear implementation strategy, that lacks investment in employee understanding and training. How to overcome it Start with one specific process where AI can deliver measurable improvement (like automated portfolio rebalancing or compliance documentation)Measure baseline metrics before implementation so you can demonstrate ROIDedicate resources to comprehensive employee training, not on just how to use the tools, but when and why to use themCreate feedback loops where advisors can report what's working and what isn'tBe prepared to iterate and adjust your approach based on real-life resultsWhat success can look like Those firms experiencing the strongest results from AI adoption share common characteristics:They maintain the human element in client relationships - AI handles data analysis, routine communications, and operational tasks, whereas advisors focus on strategy, complex planning, and relationship management.They're transparent about their AI use - rather than hiding AI implementation, they proactively explain to clients how technology enhances their service delivery.They invest in training and change management - technology adoption isn't just about buying tools, it's about changing workflows, mindsets, and practices.They start small and scale intentionally - rather than attempting wholesale transformation overnight, they identify high-impact use cases, prove the value, and expand where necessary.AI adoption in wealth management is a competitive necessity, but successful adoption requires careful planning, comprehensive training and strategic investment.If you’d like more information on the topic, support with your hiring strategy or guidance on securing a new role please contact one of our financial services consultants. ​Sources Accenture: Using generative AI to power growth for wealth managersInforma: Navigating AI in wealth management, balancing tech and human touchKPMG: The generative AI advantage in financial servicesNetguru: AI in wealth management, transforming financial planning and investment approachesWorld Economic Forum: AI, wealth management and trust: could machines replace human advisors?

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Fs Nl Web Thumbnail News
Financial Services newsletter Friday 3rd October 2025

​​Financial Services NewsFintel has launched Omnicore, a standalone distribution platform designed to connect advisers and providers, offering deeper product understanding, strategic support, and innovative solutions like Omni Protect to enhance financial outcomes across the value chain. (Financial Planning Today, 29/9/2025, 'Fintel launches Omnicore standalone distribution platform')InvestAcc's revenues more than doubled to £6m in H1 2025, driven by organic growth, strategic acquisitions, and a focus on building the UK’s leading specialist pensions administration business, including the upcoming £25m acquisition of AJ Bell’s Platinum SIPP and SSAS business. (Financial Planning Today, 25/9/2025, 'Revenues double for InvestAcc ahead of SIPP acquisition')Flying Colours, a Berkshire-based Financial Planning firm, launched an in-house investment platform powered by Seccl to enhance efficiency, reduce costs, and support a new lower-cost solution for clients with under £150,000 in investable assets, set to launch in early 2026. (Financial Planning Today, 24/9/2025, 'Berkshire Planner adds in-house investment platform')WH Ireland has sold its £1m wealth management arm to Oberon Investments as part of a strategic move to exit the market. The firm, which has faced financial challenges, is now beginning the process of winding down its operations, marking a significant shift in its business strategy. (Financial Planning Today, 22/9/2025, 'WH Ireland begins wind down after selling wealth arm')Royal London and Aviva have been ranked as the top recommended providers for personal pensions and SIPPs in H1 2025, with Royal London leading personal pensions at 29% of adviser recommendations and Aviva dominating SIPPs with 24.1%, according to Defaqto data. (Financial Planning Today, 18/9/2025, 'Royal London and Aviva top private pension recommendations')True Potential Wealth Management, the Newcastle-based financial advice arm of the True Potential Group, has reported a £242m loss. This significant financial setback highlights ongoing challenges within the business and marks a pivotal moment as the firm reassesses its strategy and operations moving forward. (Financial Planning Today, 18/9/2025, 'True Potential Wealth Management pivots to £242m loss')New FCA figures reveal an 8.6% rise in pension plans accessed for the first time in 2024/25, reaching 961,575 compared to 885,455 in 2023/24. The surge, particularly in pots over £250,000, coincided with fears of tax-free lump sum changes and the Budget announcement that pensions would fall under the IHT net from April 2027. Over £53bn was withdrawn during the year through drawdown without fully emptying pots. (Financial Planning Today, 16/9/2025, 'FCA figures show surge in pension pots being accessed')Fintech and adviser support firm Fintel, owner of SimplyBiz and Defaqto, reported an 18.6% revenue increase to £42.4m for the six months to July, with organic growth at 4.2% and SaaS & subscription revenues up 21% to £24.2m. Adjusted profits rose 17% to £11.2m, while net debt stood at £30.1m. The firm simplified its structure into two divisions—software & data, which saw a 17% revenue rise to £18.4m, and services, up 20% to £24m. Its January acquisition of Rayner Spencer Mills Research added £1.7m in revenue and £0.6m in profit. (Financial Planning Today, 16/9/2025, 'Fintel revenue climbs 18.6% in first half')​The UK’s investment gap widened by over 30% between 2022 and 2024, with 15m adults holding more than £610bn in “possible investments” in cash, according to Barclays. The bank attributes 23% of the £35bn increase in cash savings to rising interest rates, which climbed from 1% in May 2022 to 5.25% by May 2024. The analysis focuses on savers with over six months’ income in cash, whose savings grew significantly through interest accrual. (Financial Planning Today, 15/9/2025, 'UK’s investment gap climbs to more than £610bn')A Personal Financial Society 2025 Autumn Roadshow survey found 21% of Financial Planning firms use AI, 56% are experimenting, and 23% have yet to adopt it. Otto co-founder Madeleine Debney highlighted AI’s 40% growth in 2024, boosting productivity and streamlining tasks like onboarding, compliance, and portfolio rebalancing. The event supports wealth and cashflow planning professionals. (Financial Planning Today, 15/9/2025, 'Only 21% of Financial Planning firms have embedded AI')Client acquisition (34%) and retention (23%) are top priorities for financial advisers in the next 12 months, according to IFA directory Unbiased. Other focuses include technology adoption (14%), expanding services (9%), and regulatory compliance (8%), reflecting the competitiveness of the UK advice market. (Financial Planning Today, 11/9/2025, 'Client acquisition and retention top adviser concerns')Wealth manager Atomos has partnered with fintech Fincalc to enhance its retirement proposition and client onboarding. The integration provides advisers with tools for cashflow, retirement, and inheritance tax planning, alongside financial calculators. A new digital engagement portal will offer features like a customisable fact find, secure messaging, document uploads, and digital signatures. Atomos says the partnership aligns with its goal to lead in wealth management and financial planning. (Financial Planning Today, 10/9/2025, 'Atomos partners with Fincalc for new digital workflows')Hargreaves Lansdown is adding two Schroders Capital long-term asset funds (LTAFs) to its platform on 15 September, becoming the first to offer LTAFs within a SIPP wrapper. These funds provide access to private equity and energy transition infrastructure, offering growth opportunities for long-term, diversified portfolios. (Financial Planning Today, 8/9/2025, 'Hargreaves and Schroders first to offer LTAFs in SIPPs')Wealth manager Brooks Macdonald reported full-year net outflows of £0.4bn for the year ending 30 June, with a significant improvement in the second half, where outflows dropped to £0.1bn from £0.3bn in the first half. Net outflows for the quarter ending 30 June were just £5m, the lowest in two years. Despite challenges, including 2023 outflows and a 10% staff reduction, revenues rose 4.6% to £111.6m, driven by higher Financial Planning income. Funds under management grew 17% to £19.2bn, though underlying profit before tax fell 4.6% to £28.9m due to acquisition and integration costs. (Financial Planning Today, 4/9/2025, 'Net outflows drop for Brooks Macdonald')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')IDEX Consulting launches new M&A sell side offering - Designed for financial advice firms, IDEX’s new solution challenges the industry’s current traditional transaction-focused model, transforming how businesses prepare for sale and achieve maximum earn out revenue. Learn more on IDEX’s brand new M&A website. (IDEX Consulting news, 'IDEX Consulting launches new M&A sell side offering')Get the business edge with a competitive sustainability strategy - Building a sustainability strategy involves aligning with regulatory frameworks, embedding sustainable practices to attract talent and investors, and addressing challenges like greenwashing and transparency. Learn how you can build long-term business resilience and competitive advantage. (IDEX Consulting news, 'Get the business edge with a competitive sustainability strategy')Are your clients prepared for potential wealth tax changes? - The potential introduction of a UK wealth tax is creating uncertainty for wealth managers and clients. Wealth Managers need to be proactive with their planning, strategic advisory, and make necessary adjustments in investment and tax strategies to navigate regulatory and economic impacts. (IDEX Consulting news, 'Are your clients prepared for potential wealth tax changes?')Mergers and AcquisitionsTweed Wealth Management has acquired Edinburgh-based The James Boyd Practice, a former St. James’s Place partner, for an undisclosed sum, marking its sixth acquisition in seven years and bringing its assets under management close to £1bn. James Boyd, who plans to retire, chose Tweed due to their long-standing relationship. This follows Tweed’s acquisition of Glasgow-based Capital Wealth Consultants and other firms, including John Home Wealth Management and Melville Wealth Management. (Financial Planning Today, 17/9/2025, 'Tweed acquires former SJP Edinburgh planner')Clifton Wealth Partnership has acquired Grovebridge Financial and Clifton Business Consultancy, adding £146m in assets. Yorkshire-based Grovebridge has provided Financial Planning to 200 families for a decade. Director Paul Smith will remain, while Co-Director Hilary Stephenson retires. Clifton Business Consultancy, based in Bristol, has advised business owners for 16 years. Director Bob Thomas will stay on, with Co-Director Michael Lloyd retiring. The acquisitions further expand Clifton’s growing wealth management portfolio. (Financial Planning Today, 4/9/2025, 'Clifton Wealth adds £146m AUM with 2 Planner acquisitions')Chartered Financial Planning firm Unividual has been acquired by 7IM subsidiary Lync Wealth Management for an undisclosed sum. Bath-based Unividual, founded in 2000, will rebrand under the Lync name but retain its office, client fees, services, and adviser relationships. Lync said the acquisition strengthens its regional presence and commitment to client outcomes. Since 2023, Lync has acquired over seven firms managing £500m in assets, bolstering its growth under the 7IM group. (Financial Planning Today, 4/9/2025, 'Chartered Planning firm Unividual acquired by 7IM')​MoversDynamic Planner has made several senior appointments to drive its growth ambitions, including Alan Smith as Enterprise Development Director. Smith will lead sales of Dynamic Planner’s product and API solutions to major financial institutions. He brings extensive experience from senior roles at Citibank in New York and HSBC in London. (Dan Cooper, 29/9/2025, Money Marketing, 'Dynamic Planner strengthens leadership team to accelerate growth')Ascot Lloyd has appointed Ben Waterhouse as Chief Client Officer, a newly created role aimed at accelerating the firm’s growth strategy. Starting in January 2026, Waterhouse will report to CEO Francis Jackson and succeed Gary Stirrup, who steps down as Chief Commercial Officer in October. With over 20 years of experience, including roles at Schroders Personal Wealth, Barclays Wealth, Fidelity, and Legal & General, Waterhouse will focus on uniting Ascot Lloyd’s capabilities to meet evolving client needs. (Momodou Musa Touray, 29/9/2025, Money Marketing, 'Ascot Lloyd hires Schroders’ Waterhouse as new chief client officer')Vanguard appoints Gillian Hepburn, formerly of Benchmark Capital, as Head of Adviser Solutions in the UK to expand its model portfolio services, platform partnerships, and adviser offerings, leveraging her 30+ years of financial services experience. (Financial Planning Today, 25/9/2025, 'Vanguard poaches Benchmark's Hepburn as adviser solutions head')Ortec Finance appointed John O’Driscoll, a financial services veteran with over 20 years of experience and former St. James’s Place Division Director, as Managing Director of OPAL Financial & Wealth Planning to enhance its UK Financial Planning technology, leveraging his expertise in AI, automation, and advice transformation. (Financial Planning Today, 23/9/2025, 'Ortec hires SJP exec to boost UK Financial Planning')John Goddard, former HSBC banker, has been appointed CEO of Quilter Cheviot, succeeding Andy McGlone, who led the firm through significant growth and transformation, to drive further strategic advancements in wealth management. (Financial Planning Today, 22/9/2025, 'Former HSBC banker takes over as Quilter Cheviot CEO')Fairstone Group has appointed former Aldermore Bank CEO Steven Cooper as its new Chief Executive Officer, succeeding founder Lee Hartley, who becomes Deputy Chair. With over 30 years of financial services experience, including leadership roles at Barclays and Aldermore Bank, where he nearly doubled its size, Cooper will support Fairstone’s growth strategy to double its business by 2030. A CBE recipient for services to banking and social mobility, he also chairs Experian UK and has held various non-executive roles. (Financial Planning Today, 16/9/2025, 'Fairstone appoints former Aldermore Bank CEO')Fast-growing financial planner Finli Group, formerly Solomon Capital Holdings, has appointed former Brown Shipley CEO Calum Brewster as Chief Commercial Officer, succeeding Simon Goldthorpe, who will step back as Chief Distribution Officer at year-end but remain involved. Brewster, joining on 3 November, brings over 25 years of experience in wealth management and advisory, including leadership roles at Barclays Wealth and Julius Baer, as well as a successful career as an IFA. (Financial Planning Today, 16/9/2025, 'Finli appoints former Brown Shipley CEO as CCO')AFH has hired two senior ex-St James’s Place executives to drive growth. Iain Rayner, former COO at SJP, will join as Chief Commercial Officer in January 2026, while James Fogarty, former Head of Acquisition, has started as Recruitment Director, focusing on adviser recruitment. Both will support AFH’s launch of a Partnership proposition targeting owner-managed businesses. Rayner brings over 20 years of financial services experience, including managing SJP’s largest businesses, while Fogarty led SJP’s national recruitment team, specialising in onboarding large advisory firms. (Financial Planning Today, 12/9/2025, 'AFH recruits two senior staff from SJP')Fintech Origo has appointed Vivienne Sacco as Chief Finance Officer. Formerly group and UK CFO at FNZ, she brings 25 years of experience in technology and financial services. Sacco will oversee finance, legal, and information security, with CEO Anthony Rafferty highlighting her role in driving the firm’s next growth phase. (Financial Planning Today, 12/9/2025, 'Ex FNZ CFO joins Origo')Barnett Waddingham has appointed Emily Crotty as Head of SIPP Risk and Rebecca Smith as Head of SIPP Finance, joining its senior management team to expand its SIPP offering. Crotty, formerly with Embark Group, will shape the risk framework, while Smith, from tech firm Newsflare, will lead SIPP finance. (Financial Planning Today, 10/9/2025, 'Barnett Waddingham adds to SIPP team')Manchester-based Pareto Financial Planning has expanded its team to around 75 with the addition of Chartered Financial Planner Sarah Mullarkey, Financial Adviser Mark Singh, and Employee Benefits Consultant Holly Potts. Mullarkey, previously with JPB Financial Planning, specialises in cashflow planning. Singh, who transitioned from sports coaching and property investment, joins after launching his own Financial Planning firm. Potts brings over 20 years of experience in employee benefits, focusing on group risk, corporate healthcare, and cost-effective benefit strategies. (Financial Planning Today, 9/9/2025, 'Pareto recruits 3 including Chartered Financial Planner')Sally Plant, the CISI’s Head of Financial Planning, is leaving after nearly five years to join the LIBF as Relationship Director for financial services. At the CISI, she led the growth of Financial Planning, the CFP qualification, and UK business development. The LIBF, with 29,000 members, aims to expand its financial services portfolio, and Plant will support this growth alongside Director John Somerville. (Financial Planning Today, 3/9/2025, 'CISI Financial Planning head Sally Plant moves to LIBF')​All information provided in this market digest has been gathered from Financial Planning Today, Money Marketing, and IDEX Consulting.

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Financial Services newsletter Friday 29th August 2025

​​Financial Services NewsFollowing Ascot Lloyd's acquisition of Whitechurch Securities, the Pulse online investment platform will close, with Marlborough taking over management of £125m in former Whitechurch assets previously handled by its DFM team for third-party adviser clients. (27/8/2025, Financial Planning Today, 'Whitechurch to close Pulse platform after takeover')The State Pension could rise by over £550 to exceed £12,500 annually next year due to the triple lock, driven by 4.6% earnings growth, potentially pushing some pensioners into income tax brackets amid a threshold freeze, warns Broadstone. (22/8/2025, Financial Planning Today, 'State Pension could climb by more than £550')Chancellor Rachel Reeves is reportedly considering reducing the tax-free pension commencement lump sum to £40,000 from the current 25% limit of £268,000, potentially saving the Treasury over £2bn annually, though the Treasury has downplayed the likelihood, sparking concern among pension experts. (22/8/2025, Financial Planning Today, 'Reeves reportedly looking at cutting tax-free pension sum')Adviser platforms reported their strongest quarterly net sales in three years, with Quilter leading net flows at £1,949m, followed by Aviva (£1,242m), Transact (£1,219m), and 7IM entering the top 5 for the first time with £549m; AJ Bell took the top spot for all-channel net sales with strong D2C sales, while Quilter also led adviser platform gross flows at £3,659m, followed by Nucleus (£2,737m) and Transact (£2,480m), according to Fundscape. (21/8/2025, Financial Planning Today, 'Adviser platforms report highest sales in 3 years')​K3 Capital Group has launched a financial services division, anchored by investments in Pareto Financial Planning and Luna Investment Management, marking a significant milestone for the Bolton-based advisory platform, though the investment sizes remain undisclosed. (20/8/2025, Financial Planning Today, 'K3 takes stakes in 2 advisers as it launches new division')Titan Wealth's losses rose to £44.8m in March 2024, up from £27m, due to acquisition-related costs, while turnover grew to £77.4m. Its Financial Planning division, including Titan Financial Planning, Telford Mann, and Prism, saw revenue drop to £602,000, though advisory revenue grew to £1.1m after merging with Titan Private Wealth. (15/8/2025, Financial Planning Today, 'Titan Wealth losses climb to £45m')Aviva’s wealth division saw net flows rise 16% year-on-year to £5.8bn in H1, despite a Q1 dip due to a large workplace scheme outflow. Assets under management grew 6% to £209bn by June, with strong growth supporting its £280m operating profit target by 2027. (14/8/2025, Financial Planning Today, 'Aviva wealth division net flows up 16% in H1')Utmost Wealth Solutions reported £2bn net inflows in H1 2025, ending a two-year streak of negative flows. Strong UK results, following its Lombard International acquisition, drove the turnaround. Inflows of £5.3bn more than doubled H1 2024’s £2.6bn, while gross outflows fell to £3.3bn. Assets under administration stood at £17.1bn in June. (13/8/2025, Financial Planning Today, 'Net flows finally turn positive for Utmost')Frenkel Topping, a Salford-based financial adviser in talks over a £68m takeover by Harwood, grew funds under management to £1.63bn in H1 2025, up from £1.46bn. The firm expanded its Major Trauma Support Partnership to 12 NHS Major Trauma Centres, adding Royal Stoke University Hospital. Growth was also driven by increased Medico-Legal expert witness engagements and improved performance in its costs segment. (11/8/2025, Financial Planning Today, 'Frenkel Topping FUM up to £1.6bn as takeover talks continue')PensionBee reported strong pension contributions in H1 2025, maintaining 2024's record momentum, though average quarterly contributions per saver fell 3% to £1,624 from £1,677 in H1 2024. The decline reflects a market settling after 2024's high contributions driven by the increased annual allowance. Despite this, savers remain committed amid economic uncertainty. However, a 27% gender gap persists, with men contributing £1,845 per quarter on average, compared to £1,347 for women. (11/8/2025, Financial Planning Today, 'Pensions saving remains strong despite persistent gender gap')Royal London reported an £8bn increase in AUM to £181bn in H1 2025, with pre-tax operating profit rising 15% to £166m. Its governed range saw £1.6bn in net inflows, boosting AUM to £75bn. The firm also reported 469,000 customers registered on its 'My Royal London' portal. (11/8/2025, Financial Planning Today, 'Royal London AUM climb £8bn to £181bn')Nearly half (49%) of UK households with a net worth over £500,000 manage their money without a Financial Planner, according to Timeline research. Of these, 38% are “working on a plan,” while 12% have no plan at all. Many only seek advice during key life events, such as retirement drawdown (43%), inheritance planning (42%), or sudden windfalls (38%). (11/8/2025, Financial Planning Today, '49% of HNW individuals do not use a financial adviser')M&A financial services market analysis: new opportunities for IFAs - Private equity interest and consolidation is driving the M&A market, creating new opportunities for businesses. James Salmon, financial services M&A expert provides a detailed market analysis, including factors shaping growth and how firms can maximise their sale value and attract committed buyers. (IDEX Consulting news, 'M&A financial services market analysis: new opportunities for IFAs')Need to hire specialist change management professionals? IDEX have a new solution - Combining WPR's expertise in contract and permanent change management recruitment and IDEX's global reach, clients across finance change, insurance change and technology change will be supported with their most complex transformation initiatives. (IDEX Consulting news, 'Need to hire specialist change management professionals? IDEX have a new solution')Smart hiring: How employers can master the interview process - Research shows that employers aren’t maxmising interview opportunities. This article provides key advice and practical strategies to help employers comprehensively assess a professional's suitability for a role. Structured, behavioural interview frameworks with job-specific simulations and cognitive assessments remain key. (IDEX Consulting news, 'Smart hiring: How employers can master the interview process')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')Mergers and AcquisitionsUS investment firm Carlyle acquires cloud-based adviser fintech provider Intelliflo, including its US subsidiaries, in a deal worth up to $200m, with the senior leadership team remaining unchanged and subsidiaries forming a standalone business called RedBlack. (26/8/2025, Financial Planning Today, 'Intelliflo acquired by US investment firm for £148m')Aberdeen has agreed to sell Aberdeen Financial Planning, with 150 UK-based advisers, to Ascot Lloyd for an undisclosed sum, while retaining its private client services team; the business, formerly 1825, was established in 2015 by Standard Life and renamed in 2021. (20/8/2025, Financial Planning Today, 'Ascot Lloyd to acquire Aberdeen Financial Planning')Absolute Financial Group, a new IFA consolidator backed by £115m from Inflexion Private Equity, launched today with its first acquisition: Absolute Financial Management, a £1.1bn AUA firm based in Ashford, Kent. Led by CEO David Carter and chaired by Paul Hogarth, the firm aims to unify advisory businesses under a single national brand, pending FCA approval. (12/8/2025, Financial Planning Today, 'New IFA consolidator Absolute acquires £1.1bn AUA firm')Octopus Money has agreed to acquire Virgin Money’s investment business, adding 150,000 customers and accelerating its growth in the direct-to-customer wealth market. Following FCA approval, the business will rebrand under Octopus Money, with existing teams continuing to support customers. (6/8/2025, Financial Planning Today, 'Octopus Money buys Virgin Money’s investment business')Perspective Financial Group has completed five acquisitions, adding £310m in assets under advice, 825 client households, and a new office in Crewe, Cheshire. The deals bring Perspective’s total acquisitions to 121 since 2008, including 29 in 2024 and 14 so far in 2025. The acquired firms are Lifestyle Financial Services (St Helen’s), Sirius Money Management (Isle of Wight), Sapient Wealth Management (Warwickshire), Bayham Wealth LLP (Kent), and Mat White Financial Services (Crewe). Mat White cited succession planning and client continuity as key reasons for the sale after 34 years in the profession. (5/8/2025, Financial Planning Today, 'Perspective boosts AUA by £310m with 5 acquisitions')Advies Private Clients, backed by Saltus, has acquired Financial Planner Nicholas Trayford, adding £100m in client assets and 100 clients. Partner James Wills highlighted the shared values and client-first approach between the firms. Trayford, a Chartered Insurance Institute member, brings over 20 years of experience, including roles at Millfield Partnership, Quilter Financial Planning, and True Potential. (5/8/2025, Financial Planning Today, 'Saltus-backed Advies acquires £100m AUA Nicholas Trayford')Hoxton Wealth has acquired Infinity Financial Solutions, an expat financial services provider with offices in Asia, for an undisclosed sum. The deal adds $300m (£225m) in assets, boosting Hoxton’s total AUM to $3.3bn (£2.5bn). Founded in 2004, Infinity offers internationally-mobile advice on investments, pensions, and insurance, alongside corporate services like employee benefits and risk management. (4/8/2025, Financial Planning Today, 'Hoxton Wealth acquires £225m AUM expat specialist firm')​MoversLGT Wealth Management appoints Kirsty Thomson, formerly of RBC Brewin Dolphin, as a Wealth Planner in Edinburgh to address rising demand for wealth planning, leveraging her expertise in high-net-worth retirement and wealth transfer planning, with a background as a tax-specialist Solicitor and experience at PwC and Turan Connell. (27/8/2025, Financial Planning Today, 'LGT adds Scots tax specialist as demand rises')The Personal Finance Society has appointed Guy Skinner, Director and IFA at London’s Citygate Financial Planning, and Rosa Nash, Chartered Financial Planner at Trowbridge-based Montgomery Charles Wealth Management, to its PFS Power Financial Planning Practitioner Panel. Skinner, who founded Citygate in 2015, focuses on Financial Planning for lawyers, business owners, and employee benefits, while Nash, a Fellow of the CII, specialises in lifestyle Financial Planning for dentists and high-net-worth individuals. (19/8/2025, Financial Planning Today, 'Two Planners join PFS Power Financial Planning panel')Welsh Chartered Financial Planner Kevin Thomas has joined Plymouth-based national advice firm Continuum, owned by M&G. With over 35 years of experience, including roles at Abbey Life, Friends Provident, and Mather and Murray, Thomas specialises in wealth creation, investment, estate planning, pensions, and tax planning. Based in Burry Port, he is also a member of the Society of Trust and Estate Practitioners. (19/8/2025, Financial Planning Today, 'Veteran Welsh Chartered Planner joins Continuum')Stockton-on-Tees-based Active Chartered Financial Planners has recruited Chartered Financial Planner Craig Honeyman and Chartered Paraplanner Lauren Lee as it marks its 25th anniversary. Honeyman, with over 20 years of experience, began his career at Bob Little and Co. in 2004 and achieved Chartered status in 2022. Lee, who started in financial services in 2011, specialises in compliance and operational support, achieving Chartered status in 2021 and becoming a Fellow of the CII in 2022. (19/8/2025, Financial Planning Today, 'Active Chartered FP adds two Planners on 25th anniversary')Rosemount Financial Solutions (IFA) added 10 new advisers between April and June, bringing its total to over 150. The Basingstoke-based network reported record financial performance, with first-quarter revenues up by more than a third compared to 2024. The new advisers include Fiyin Makinde (Arvifin Solutions), James Armitage (Lenderhive), Naveed Khan (Roxton Wealth), Varun Maini (V&R Financial), Sally Mitchell (Versed Financial), Daniel Skelton (Wealth Guide), Philip Wildin and KellyAnn El-Shawk (Wildin & Co), and Mark Francis and Darryl Workman (WR Ethical). (18/8/2025, Financial Planning Today, 'Rosemount adds 10 new advisers in 3 months')Rob Barker will become CEO of The Openwork Partnership, a 4,800-adviser network, in September, succeeding interim CEO Philip Howell, who returns as Executive Chairman. Barker, formerly Head of Insurance, Wealth, and Asset Management EMEA at Alvarez & Marsal, previously held senior roles at Aviva, including CEO of Wealth and CEO of Protection and Health. (13/8/2025, Financial Planning Today, 'New CEO for Openwork Partnership')Trevor Edwards, the CII’s Group Finance Director, has left the Personal Finance Society board after less than a year, becoming the fifth director to depart in 2025. Appointed in September 2024, the PFS praised his "exceptional contribution" during his tenure. (12/8/2025, Financial Planning Today, 'Fifth director resigns from PFS board this year')Ascot Lloyd has appointed Eden Scrivenger as Chief Technology and Operations Officer, combining technology, client services, and operations to drive digital transformation and enhance service delivery. Previously, she held leadership roles as CTOO at Wealthtime and CTO at Investec Wealth & Investment UK, bringing over 20 years of experience in financial services. (Momodou Musa Touray, 12/8/2025, Money Marketing, 'Ascot Lloyd hires former Wealthtime executive to new leadership role')Scottish Widows has appointed Jenny Davidson as Intermediary Wealth Director. With over 30 years of experience, including roles at Quilter, Aberdeen, and Standard Life, Davidson brings expertise in platform strategies, wealth technology, and investment solutions. She will focus on expanding Scottish Widows' wealth capabilities in the intermediary market.(Dan Cooper, 12/8/2025, Money Marketing, 'Scottish Widows appoints Quilter’s Jenny Davidson as intermediary wealth director')Peter Martin, former CEO of Odey Asset Management, has joined Oberon Investments Group, which plans to launch a new Global Equities fund leveraging his expertise. He is joined by ex-Odey colleague Jake Bambridge as Funds Operations Manager. Martin brings over 40 years of investment management experience, while Bambridge previously managed operations for a £650m HNW private client business at Odey. Oberon also recently hired small-cap fund manager Richard Penny from Crux Asset Management. (11/8/2025, Financial Planning Today, 'Former Odey CEO joins wealth planner Oberon')Progeny Group has restructured its board as Founder Neil Moles steps down from his roles as Group President and Non-Executive Director. Andrea Hodgson and David Baker have joined as Non-Executive Directors to bolster leadership. Hodgson brings 25 years of banking and financial services experience, including roles at SilverRock Bank and GB Bank. Baker, an economist, has held senior risk and compliance positions, including at AXA UK and the Financial Services Authority. (7/8/2025, Financial Planning Today, 'Progeny adds 2 new directors as founder steps back')Continuum, owned by M&G, has recruited three advisers from Fleming Financial, recently acquired by Shackleton. Jim Low, Nick Foley, and Virgil Higglesden bring over 60 years of combined experience. Low, an IFA with 25+ years in financial services, will serve clients in Devon and Cornwall. Foley, a Chartered Financial Planner and PFS fellow, joins in Bristol with 16+ years of experience. Higglesden, also a Chartered Financial Planner, will serve clients in Exeter and Devon, bringing 25+ years of expertise. (5/8/2025, Financial Planning Today, 'Continuum adds Planners from private equity-owned Shackleton')Barnett Waddingham has appointed Nick Cooper as CEO of BW SIPP, succeeding Simon Foster, who will retire later this year. The firm highlighted the leadership transition as part of its strategy for market growth. Cooper, with over 30 years of experience in the SIPP and Master Trust markets, has been instrumental in BW’s transformation, including the development of the SIPP360 platform. His previous roles include senior positions at Aviva, Zurich, Clerical Medical, and Embark Group, where he developed retirement propositions and strategic partnerships. (5/8/2025, Financial Planning Today, 'Barnett Waddingham picks new CEO for BW SIPP')Seccl, the Octopus-owned white label platform, has appointed Jonathan Dees as its new UK CEO, pending regulatory approval. Dees, who has been interim MD since June, will succeed David Ferguson, now Executive Chairman focusing on Seccl’s vision and growth. Dees brings extensive experience, including six years as COO at Octopus Investments and senior roles at Zoopla and TripAdvisor. (5/8/2025, Financial Planning Today, 'Seccl appoints new CEO to replace David Ferguson')​All information provided in this market digest has been gathered from Financial Planning Today, Money Marketing, and IDEX Consulting.

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Financial Services newsletter Friday 1st August 2025

​​Financial Services NewsSchroders' wealth management arm posted an adjusted operating profit of £110m in H1 2025, up 24% from 2024. The division added £2.7bn in net new business (NNB) in Q2, with contributions from Schroders Personal Wealth (£300m) and Benchmark Capital (£0.9bn). Wealth management assets under management (AUM) grew to £145bn, up from £142.5bn in 2024. Schroders' overall AUM remained stable at £776.6bn, with gross inflows rising 8% year-on-year to £68.2bn. Its transformation programme, launched in March, has already cut operating expenses by £21m and targets £150m in annualised cost savings by 2027. (Darius McQuaid, 31/7/2025, Money Marketing, 'Schroders’ wealth management business records £110m profit')Five Financial Planning and insurance firms, including Morgan Williams & Co (East Yorkshire), M4 Financial Group (Swansea), The Islands' Insurance Brokers, Hepburns Insurance, and M.J. Touzel (Insurance Brokers) Limited t/a Islands Insurance, have achieved the Chartered Insurance Institute's (CII) Chartered Corporate status. This recognition reflects their proven technical competence, adherence to the CII Code of Ethics, and commitment to professional standards, public trust, customer-centric practices, and ongoing development of the profession. (Financial Planning Today, 31/7/2025, '5 new firms achieve CII Chartered Corporate status')St James’s Place reported record funds under management of £198.5 billion, driven by £10.5 billion in gross inflows and £3.8 billion in net inflows, with IFRS profit after tax rising to £279.5 million, supported by share buy-backs totaling £95.5 million and continued growth in client numbers (over 1 million) and adviser headcount (4,952). (Financial Planning Today, 31/7/2025, 'St James's Place FUM hits record £198.5bn')Jupiter Fund Management reported a 4% rise in assets under management (AUM) to £47.1bn in the first half of 2025, up £1.8bn. However, AUM was down £4.2bn compared to June 2024. Net outflows totalled £0.2bn, though institutional momentum and improving retail flows led to positive net flows in Q2. Operating costs were reduced by £3.7m to £125.4m, but underlying profit before tax fell by a third to £30.4m, with statutory profit dropping 25% to £27.5m. (Financial Planning Today, 25/7/2025, 'Jupiter assets rise by £1.8bn in 6 months')Rathbones will launch a new ‘true active’ model portfolio service (MPS) range, its first since merging with Investec Wealth & Investment. The seven portfolios, managed by Andrea Yung and using in-house funds led by David Coombs, cater to varying risk levels with a 0% discretionary fee and charges capped at 0.5%. Available on 14 platforms by autumn, existing MPS clients can transition to the new service. (Financial Planning Today, 25/7/2025, 'Rathbones adds active MPS in first launch after Investec merger')Financial Planning firms are seeing growth in average client portfolio size and AUM, according to Financial Planning Today's annual survey. Average funds under advice rose to £840m (2024: £690m), with average client portfolios exceeding £500k at £516k. Firms advising on portfolios over £1m nearly doubled to 7% (2024: 4%). The most common portfolio size remained £251k-£500k (38%), followed by £100k-£250k (32%). At the larger end, 19% of firms managed £500m+ in FUM, while 12% reported £5bn+ compared to 6% last year. (Financial Planning Today, 25/7/2025, 'Planners report rise in average client portfolio size')Pension transfers have hit their highest level since August 2023, with XPS Group’s Transfer Activity Index rising to 25 members per 1,000 transferring benefits in June. The Transfer Value Index also increased to £141,000, its first month-end rise this year, though still 10% lower than mid-2024. Scam warnings flagged in 88% of cases reviewed in June, up 3% from May, with ‘overseas investment’ remaining the most common warning sign. (Financial Planning Today, 24/7/2025, 'Pension transfer at highest level for 2 years')Capital gains tax (CGT) receipts fell 12.9% year-on-year to £11.77bn from January to June 2025, despite rate increases in the latest Budget. CGT has been declining, dropping from nearly £17bn in 2022-23 to £13.1bn in 2024-25. Receipts typically reflect asset sales from the prior tax year, with a January spike due to Self-Assessment deadlines. (Financial Planning Today, 23/7/2025, 'CGT receipts drop 12.9% for first half of 2025')A Women in Personal Finance survey found 93% of women in or previously in Financial Planning would recommend the role, yet only 36% would consider it themselves. Over half (56%) of women not in the field wouldn’t consider it as a career. Barriers include the sector being seen as male-dominated (84%), lack of awareness (49%), and perceptions that finance isn’t for women (47%). The research was commissioned by the Women’s Wealth Alliance. (Financial Planning Today, 22/7/2025, '93% of female Financial Planners would recommend the role')Inheritance tax (IHT) receipts rose 6% year-on-year to £2.2bn from April to June, up £134m from £2.09bn last year, according to HMRC. The OBR forecasts IHT will hit £9.1bn in 2025/26 and exceed £14bn by 2029/30. Rising asset prices and frozen thresholds are driving record collections, with IHT becoming a key revenue source amid strained public finances. (Financial Planning Today, 22/7/2025, 'IHT receipts climb 6% to £2.2bn')National IFA Continuum, owned by M&G, reported a 17% year-on-year rise in assets under influence to £2.6bn in H1, driven by new and existing clients. New business income grew 23% to over £2.5m, with June setting a record £1.3m in monthly income, up 5%. Nine advisers joined, bringing the total to 81, while average adviser productivity rose 9% to £227,498. (Financial Planning Today, 21/7/2025, 'National IFA Continuum reports AUI up 17%')Global Certified Financial Planner (CFP) numbers rose 3.1% in 2024 to 230,648, up 6,878, according to the FPSB’s Annual Report. UK CFPs grew to 1,064, up 33, while Ireland surpassed 1,000, reaching 1,006. Since 2020, global CFP numbers have risen nearly 38,000, with milestones in the U.S. (100,000+), Brazil (10,000+), South Africa (5,000+), India (3,000+), and Ireland (1,000+). (Financial Planning Today, 17/7/2025, 'Global CFP Professional numbers up 3.1% to top 230,000')Men have double the pension savings of women, with average pots of £92,000 compared to £39,000, and larger personal assets (£145,000 vs. £79,000), according to Royal London. Men also feel more confident managing pensions, with 44% confident in combining or transferring pensions versus 29% of women. Single savers average £30,500 in pensions, divorced savers £39,500, and married savers £97,000. The report coincides with Chancellor Rachel Reeves’ Mansion House speech, expected to launch a pensions adequacy review. (Financial Planning Today, 15/7/2025, 'Men’s pension pots more than double women’s - report')Aegon has launched a Junior SIPP to support advisers with intergenerational planning, responding to rising demand as pensions come under inheritance tax from April 2027. The Junior SIPP is free of platform charges until the child turns 18, then converts to a standard SIPP, with investment fund charges applying. (Financial Planning Today, 15/7/2025, 'Aegon launches Junior SIPP')Brooks Macdonald reported £5m in net outflows for Q2, down from £129m the previous quarter, with assets under management rising to £19.2bn. Its platform managed portfolio service saw £165m in net inflows, achieving 14% annualised growth. The firm credits improved client engagement and acquisitions for the turnaround and will release full-year results on 4 September. (Financial Planning Today, 10/7/2025, 'Net outflows drop 96% for Brooks Macdonald')The Private Office has warned against cutting the £20,000 Cash ISA allowance, arguing it won’t drive more risk-based investing. Speculation suggests Chancellor Rachel Reeves may announce the cut in her Mansion House speech to encourage investment and boost UK growth. However, research by The Private Office found 53% of 4,300 savers hold cash for retirement planning, while 76% see earning competitive interest as key to their financial strategy. Only 11% cited lack of investment knowledge as a reason for holding cash. (Financial Planning Today, 9/7/2025, 'Chartered adviser warns govt against cutting cash ISAs')Chase de Vere reported a 24.2% rise in pre-tax profits to £31.9m for 2024, with revenue up 13.6% to £118.6m. The firm attributed its strong performance to client referrals, affinity partnerships, acquisitions, and exceptional client feedback. (Financial Planning Today, 8/7/2025, 'Profits climb 24% to £32m at Chase de Vere')Brooks Macdonald has launched a new Financial Planning brand, Brooks Financial, to unify its growing Financial Planning business. The brand consolidates the acquisitions of LIFT-Financial, Lucas Fettes, and CST, reflecting Brooks Macdonald’s ambition to provide high-quality, independent Financial Planning advice across the UK. (Financial Planning Today, 1/7/2025, 'Brooks Macdonald launches Financial Planning brand')Aberdein Considine, the Scottish wealth manager and Financial Planner, has separated its wealth division into a new business, AC Wealth, as part of its plans to establish one of Scotland’s largest Financial Planning firms. Long-standing Financial Planners Russell Anderson, Alan Davidson, and Sam Goult will become shareholders in the new company. With FCA approval, AC Wealth will operate as an independent business, with 13 Financial Planners and 23 staff transferring over. The firm stated that corporate and private clients will continue to receive comprehensive Financial Planning services. (Financial Planning Today, 30/6/2025, 'Aberdein Considine creates Financial Planning firm')The wealth tax uncertainty: impact for wealth managers and their clients - Navigating the challenges of a potential UK wealth tax for your clients? Our article explores its implications for wealth managers and their clients, offering key insights and strategic advice for proactive financial planning, and risk mitigation. Read for useful insight. (IDEX Consulting news, 'The wealth tax uncertainty: impact for wealth managers and their clients')M&A resource library - Access our free resources where M&A buy-and-sell leaders, and tax, regulatory and legal experts share simple but strategic advice on how to attract the best buyers in the market, maximise your sale value and manage a smooth transaction. (IDEX Consulting news, 'M&A resource library')IDEX Consulting unveils employer value proposition and can help you do the same - IDEX has successfully developed a powerful Employer Value Proposition to raise its profile in the consultancy market. With our proven expertise, we can help your business craft a compelling story to attract top talent, customers and investment. Check out our visually engaging EVP for inspiration to help you win against competitors. (IDEX Consulting news, 'IDEX Consulting unveils employer value proposition and can help you do the same')IDEX Consulting appoints new Head of Internal Recruitment - If you're seeking a new recruitment opportunity, our dedicated team is here to support you. Led by Michelle Paish, an experienced consultant of over 18 years at IDEX, our talent team is focused on helping you achieve your career goals. We provide a seamless onboarding experience and offer continuous support for your professional development, ensuring you have everything you need to thrive. (IDEX Consulting news, 'IDEX Consulting appoints new Head of Internal Recruitment')Mergers and AcquisitionsEnabled by IDEX Consulting, Titan Wealth plans to acquire Finance Shop (£750m AUA) and FS Wealth Management (£340m discretionary mandate), boosting its total assets under management and advice to £37bn, while enhancing its East Anglia presence and expanding client services with a focus on face-to-face advice and local expertise. (Isabel Baxter, 30/7/2025, Professional Adviser, 'Titan Wealth acquires £750m AUA Finance Shop and FS Wealth Management')Brookfield Wealth Solutions (BWS), a Bermuda-based insurance firm, has agreed to acquire UK retirement and annuity provider Just Group for £2.4 billion, merging it with its subsidiary Blumont Annuity Company. The merger is strategically aimed at accelerating BWS's growth in the UK, a key global pension market with attractive investment opportunities, while enabling Just Group to leverage BWS's scale and expertise to expand its reach and enhance its retirement solutions. Just's management will lead the combined group. (Financial Planning Today, 31/7/2025, 'Bermuda-based firm swoops on Just Group for £2.4bn')Westerby Group, a wealth adviser and pensions firm, has acquired Bristol-based pension specialist Cabot Trustees Limited, marking its fourth acquisition since 2022 and bringing its assets under administration and management to over £2bn. The deal, expanding Westerby’s reach across England, adds a Bristol office to its existing locations in Weymouth, Manchester, and Leicester. (Financial Planning Today, 29/7/2025, 'Westerby snaps up Bristol pension firm')Salford-based financial adviser Frenkel Topping is in ongoing discussions with private equity firm Harwood over a £68m takeover bid. Harwood initially proposed a cash offer of 50p per share or an alternative of 10p per share plus shares in a new company, allowing shareholders to retain a 1.375p final dividend. The deadline for a formal offer has been extended to 25 August with the agreement of Frenkel Topping's independent directors and the UK Takeover Panel. (Financial Planning Today, 28/7/2025, 'Deadline extended for £68m Frenkel Topping bid')Jupiter Fund Management will acquire specialist asset manager CCLA Investment Management for £100m, adding over £15bn in assets under management. CCLA serves non-profits, including charities, religious institutions, and local authorities. The deal, funded from Jupiter’s cash reserves, is expected to complete by year-end, pending regulatory approval. CEO Matthew Beesley said the acquisition broadens Jupiter’s client base and strengthens its UK presence while retaining CCLA’s brand and investment teams. (Financial Planning Today, 10/7/2025, 'Jupiter acquires £15bn AUM non-profit specialist asset manager')Partners Wealth Management, part of the 7IM group, has acquired Surrey-based Navigate Capital Management, adding £170m AUM and 175 clients. The deal brings Partners’ total AUM to £6.2bn, serving 5,700 private clients. Navigate will rebrand as Partners Wealth Management but retain its Guildford office, combining regional expertise with Partners’ scale and resources to enhance wealth management services. (Financial Planning Today, 9/7/2025, '7IM's Partners acquires £170m AUM Surrey Planner')EQ Investors has decided to remain independent after rejecting offers from potential strategic partners. The London-based wealth manager had been exploring ownership changes but concluded that independence is the best option for its clients, colleagues, and shareholders. (Financial Planning Today, 8/7/2025, 'EQ Investors scraps talks with potential suitors')Finli Group, formerly Solomon Capital Holdings, has acquired six more Financial Planning firms, bringing its total acquisitions in the past four months to 11. The latest deals add over £264m in assets, taking the firm’s total acquisitions to 51. The newly acquired firms include Accomplish Wealth Management, G&D Bignell, Wynford Davies & Co, Wheeler Wicks & Co, EP Wealth Management, and GTM Financial, expanding Finli’s reach across the UK. (Financial Planning Today, 8/7/2025, 'Finli acquires 6 more Financial Planning firms')Chesnara, the European life and pensions consolidator, has acquired HSBC Life (UK) for £260m. HSBC Life (UK), a specialist in life protection and investment bonds, holds assets of approximately £314m as of 31 December. The acquisition will increase Chesnara’s UK assets under administration to around £4bn, covering approximately 454,000 policies. The deal will be funded through internal cash (£55m), a £65m drawdown from its revolving cash facility, and the issuance of new shares. Completion is expected early next year, pending regulatory approvals. (Financial Planning Today, 3/7/2025, 'Consolidator snaps up HSBC UK life and bond arm')Shackleton has acquired South West-based Financial Planning and wealth management group Chetwood, adding £900m in AUM. The deal, Shackleton’s fourth this year, increases its total assets under advice and management to £8bn and adds 45 staff, bringing its total workforce to 450. The Chetwood Group includes Chetwood Wealth Management, Chetwood Investment Management, Chetwood Private Wealth, Ermin Fosse Financial Management, and Darnells Wealth Management. Chetwood Bank is not part of the deal. (Financial Planning Today, 3/7/2025, 'Shackleton buys £900m AUM South West Planner Chetwood')Evelyn Partners has completed the sale of its fund solutions business to Thesis for an undisclosed sum. The deal transfers 75 staff, primarily based in Glasgow, to Thesis. Evelyn Partners Fund Solutions Limited (EPFL) manages £10.6bn in assets under governance, supporting 161 funds across 40 sponsors and investment managers. The sale, initially announced in January, was subject to regulatory approval. (Financial Planning Today, 1/7/2025, 'Evelyn completes sale of fund solutions business to Thesis')Succession Wealth, owned by Aviva, has completed the integration of Leeds-based Financial Planning and wealth manager True Wealth Group. Succession acquired the £1.1bn AUA firm in November 2024 for an undisclosed sum. The integration supports Succession’s national growth strategy, preserving client continuity, adviser relationships, and cultural alignment. It also broadens Succession’s UK reach, advancing its goal to become the trusted home of financial advice. (Financial Planning Today, 1/7/2025, 'Succession completes integration of £1.1bn AUA True Wealth')​MoversCanaccord Wealth has expanded its adviser market team with the addition of Matthew Keen and Michael Clark. Keen, with nearly 20 years of experience, joins from Charles Stanley & Co, where he specialised in tailored solutions for intermediaries, and previously worked at Scottish Widows promoting pension propositions. He will oversee the South East of England. Clark, with over a decade in financial services, joins from Wealthtime as a regional sales manager and previously held various sales roles at Canada Life, focusing on investment and retirement solutions. He will cover the East of England, supporting Canaccord's growth strategy across the UK. (Financial Planning Today, 30/7/2025, 'Canaccord Wealth expands IFA market team')Johnston Carmichael Wealth, part of 7IM group’s Partners Wealth Management, has appointed Leigh Townsley as a Chartered Financial Planner. With 25 years of experience, including 18 as a qualified Financial Planner, she previously worked at NFU Mutual, specialising in rural Financial Planning, and at Lomond Wealth in Glasgow. She holds a BA in Financial Services and advanced qualifications in pensions, taxation, and trusts. (Financial Planning Today, 29/7/2025, 'Johnston Carmichael Wealth adds Chartered Planner')Steve Hutton has stepped down as CEO of True Potential Wealth Management after eight months in the role. With 36 years of industry experience, he joined the firm in 2018 from UBS Asset Management as Head of Strategic Acquisitions, helping drive its rapid growth. Previously, he was a UK board member at UBS, led Fidelity International’s IFA sales team, and held roles at Scottish Widows and Invesco Perpetual. Earlier in his career, he spent five years as an IFA specialising in professional connections. (Financial Planning Today, 28/7/2025, 'True Potential Wealth Management CEO Hutton exits')Liam Coleman, former Co-op Bank CEO, has been appointed interim Chair of the Financial Ombudsman Service by the FCA, starting 10 October. He succeeds Baroness Zahida Manzoor, who steps down on 1 August after two terms. With over 30 years of financial services and board experience, Coleman has held senior roles at RBS and Nationwide and currently chairs several NHS and housing trusts. He will leave his role as an FCA Non-Executive Director to take up the position. (Financial Planning Today, 28/7/2025, 'Former Co-op Bank CEO appointed interim FOS chair')Westminster Wealth Management has appointed former Fairstone Director Mark Hewson as Director of Business Operations. Previously Managing Director of Fairstone’s City of London office and a Divisional Director, Hewson will focus on operational excellence, working with Managing Partner Martin Lockyer and the leadership team to implement the firm’s strategic vision. He will also support adviser recruitment and onboarding efforts. (Financial Planning Today, 28/7/2025, 'London Chartered Planner recruits Fairstone director')Nick Kirrage, a veteran Fund Manager at Schroders, is leaving after 23 years. Known for his disciplined value investing approach, Kirrage played a key role in shaping the firm’s Value Equities team and delivering long-term outperformance. He will be succeeded by Simon Adler, a 16-year Schroders veteran specialising in Global and International Value. (Momodou Musa Touray, 23/7/2025, 'Nick Kirrage to leave Schroders after 23 years')Chartered Financial Planner Andrew Gardiner has left his role as Associate Director with Lowes Financial Management in Newcastle after it was taken over by national firm Saltus. He has joined rival Newcastle Financial Planning firm Greenarch Wealth Management. Mr Gardiner said: “After many years delivering independent advice at Lowes, I felt it was vital to remain aligned with a firm that shares my values, putting clients first and offering truly independent advice. Greenarch stood out as a locally-rooted Chartered firm with ambition.” (Financial Planning Today, 21/7/2025, 'Planner leaves Newcastle firm after takeover by Saltus')Cooper Parry Wealth has appointed David Kendrick as its new MD, succeeding retiring CEO Stephen Jones, who spent 20 years building the business. Kendrick joined the Derby-based firm in October 2024 after leading the merger with UHY Hacker Young Manchester, where he was CEO. Cooper Parry Wealth, with £1.5bn AUM, serves 900 families and employs over 73 staff. The firm shifted focus to Financial Planning in 2010. Kendrick will assume his role this summer, pending regulatory approval. (Financial Planning Today, 17/7/2025, 'New MD for Cooper Parry Wealth as CEO retires')Evelyn Partners has appointed Philip Lewis, formerly of Fisher Investments UK, as Head of Financial Planning advice. In this new role, he will oversee all aspects of Financial Planning advice, working with a team of 300 professionals and reporting to Chief Financial Planning Officer Emma Sterland. Lewis spent eight years at Fisher Investments UK, where he oversaw UK advice and suitability. (Financial Planning Today, 14/7/2025, 'Evelyn creates new role of Head of Financial Planning Advice')Belmayne has recruited Chartered Financial Planner Alex Napier to expand its reach into Sheffield. Napier, formerly with Forest Oak Financial Planning, brings over a decade of experience, specialising in complex client situations and collaboration with other experts. (Financial Planning Today, 8/7/2025, 'Belmayne expands into Sheffield')Greaves West & Ayre has expanded its wealth management team with the addition of three newly qualified IFAs: Daniel Bullen, Matthew Brown, and Tony Douglas. The appointments bring the team to eight advisers. Douglas joined in 2021 after earning a business and finance degree, while Bullen, a former Paraplanner, gained his diploma in 2023. Brown began his financial advice career after graduating from the University of Leeds in 2018, progressing from trainee to qualified adviser in 2021. (Financial Planning Today, 3/7/2025, 'Northumberland accountancy firm adds adviser trio')Emma Watkins, former Senior Executive at Scottish Widows, will become UK CEO at Canada Life on 1 September. Watkins, who spent a decade at Scottish Widows as Managing Director of Retirement, succeeds Lindsey Rix-Broom, who will transition to CEO, Europe, at parent firm Great-West Lifeco. At Scottish Widows, Watkins built a £6bn bulk annuity business, drove annuity portfolio growth, and led the modernisation of annuity operations. Prior to this, she was a Partner at pensions consultancy Lane Clark & Peacock LLP and held senior roles at MetLife Assurance and Ace European Group. (Financial Planning Today, 3/7/2025, 'Canada Life looks to Scottish Widows for new UK CEO')Fairstone, the expanding Financial Planner and wealth manager, is set to appoint a new Chief Executive to succeed Founder Lee Hartley. Hartley, who launched the national wealth advisory firm nearly 18 years ago, will transition to the role of Deputy Chair on 1 October. He stated that the change marks a natural evolution for both himself and the business. (Financial Planning Today, 1/7/2025, 'Fairstone to hire new CEO to replace Hartley')​All information provided in this market digest has been gathered from Financial Planning Today, Money Marketing, Professional Adviser, and IDEX Consulting.

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The wealth tax uncertainty: impact for wealth managers and their clients

The potential introduction of a wealth tax in the UK, highlighted by ongoing discussions surrounding the Autumn Budget 2025, has created ripples across the financial services sector. Post the pandemic, the most disadvantaged groups saw their incomes drop by 7.5% in real terms, while the wealth of the richest fifth was estimated to have grown by 7.8% (Equality Trust: The scale of economic inequality in the UK). With the UK facing economic challenges and an estimated £2.7 trillion national debt, a wealth tax is being eyed as a potential solution to stabilise public finances. While no formal proposal exists, the idea is sparking widespread discussion.For wealth managers and their high-net-worth clients, this development brings both challenges and opportunities, requiring proactive planning and strategic adjustments. What is wealth tax? A wealth tax is a levy on an individual’s net assets rather than their annual income. It encompasses holdings like real estate, savings, investments, and personal property. Wealth taxes can be categorised into two primary forms:Annual wealth tax: A recurring charge on total wealth above a specific threshold.One-time wealth tax: A temporary measure to address extraordinary fiscal demands, often introduced during national crises. The debate over wealth taxes in the UK has been sparked by proposals such as a 2% yearly tax on wealth exceeding £10 million. This approach, according to recent studies, would affect only 0.04% of the population, an estimated 20,000 individuals, and could raise as much as £24 billion annually. While such a measure has its proponents, complexities around valuation, compliance, and administration make its potential implementation a polarising issue among policymakers.Political and economic context The UK’s financial landscape is marked by persistent economic uncertainty, compounded by post-Brexit trade dynamics, inflationary pressures, and government borrowing that reached its second-highest June figure since 1993. Against this backdrop, the Chancellor of the Exchequer, Rachel Reeves, faces calls to find ways to bolster the Treasury’s resources without increasing taxes on working individuals.Thus far, Reeves has not ruled out the possibility of introducing a wealth tax, though she has remained noncommittal. The Labour government previously pledged not to raise income tax, VAT, or national insurance contributions, creating pressure to explore alternative revenue streams such as taxing wealth. Campaigners emphasise that wealth inequality in the UK has steadily risen, with the number of billionaires steadily, underscoring a growing disparity between the ultra-rich and those struggling with rising cost of living expenses.Debates around wealth tax implementation are not limited to fairness. Concerns over administrative costs, valuation complexities, and behavioural reactions (such as capital flight) weigh heavily on policymakers' decisions, with arguments from both advocates and critics shaping public discourse. What does this mean for wealth managers?For those working across the Wealth Management sector the uncertainty surrounding a potential wealth tax introduces a set of challenges and opportunities that demand agility and foresight in client management.1. Spike in client enquiries and advisory needs Wealth managers are already observing an uptick in enquiries from clients concerned about potential changes in their tax liabilities. Questions typically centre around mitigating exposure to new levies and making strategic adjustments to personal and corporate holdings. This creates an urgent need for financial advisors to not only reassure their clients but also offer tailored strategies to align portfolios with potential regulatory shifts. 2. Capital flight concerns One of the primary fears associated with a wealth tax is the possibility of capital flight. Affluent individuals may consider transferring assets or relocating to jurisdictions with more favourable tax regimes. Though such behaviours are often less widespread than anticipated, with studies noting that “just 0.01% of the richest households relocated after wealth tax reforms were introduced in Norway, Sweden and Denmark” (Tax Justice UK: How would a wealth tax work in practice?). These concerns often influence clients’ decisions, making it even more important for wealth managers to offer strategic guidance grounded in facts.3. Investment strategies Uncertainty about future policy changes may lead clients to adopt more cautious investment tactics. Wealth managers must explore options such as higher liquidity allocations, tax-efficient investments, and diversifying holdings to hedge against potential market or legislative volatility. Additionally, the prospect of increased taxes on traditional assets could accelerate interest in alternative investments, such as private equity or assets held overseas. It’s imperative that wealth managers stay ahead of global market trends, diversification opportunities across asset classes and geographies, and tax efficient strategies.What does this mean for clients?The ramifications of a potential wealth tax extend beyond the advisory realm, influencing clients’ financial behaviours and planning priorities. 1. Potential knee jerk responses The spectre of a wealth tax may prompt some clients to consider pre-emptive measures such as estate planning, intergenerational wealth transfers, and charitable contributions. However, hurried actions could backfire; for instance, early liquidation of assets to avoid taxation could trigger additional costs like capital gains tax, undermining the intended objectives. The Tax Justice Network have suggested that for each percentage of wealth tax, reported wealth could fall by 14% due to behavioural responses like migration and shifting assets (Tax Policy Associates: Number of OECD countries levying individual net wealth taxes).2. Asset reallocation Clients concerned about potential tax implications might look to reallocate assets into categories that are traditionally exempt from wealth taxes or are harder to value. Assets like pensions, offshore accounts, or complex trusts may become more attractive. However, these strategies could draw scrutiny from regulators, emphasising the need for compliance and cautious navigation of legal frameworks.3. Intensified tax planning While annual wealth taxes have never been implemented in the UK, existing measures like inheritance tax (IHT), capital gains tax (CGT), and council tax already contribute to the taxation of accumulated wealth. Faced with the possibility of additional tax burdens, many high-net-worth individuals are likely to explore in-depth tax planning solutions. Wealth managers will need to collaborate with tax specialists to ensure robust strategies that address both compliance and optimisation.A proactive approach For financial advisors and wealth managers, the key to navigating these turbulent times lies in a proactive and strategic approach. This includes:Scenario planning: Preparing for various outcomes based on potential tax structures and thresholds, while providing clients with actionable strategies for each scenario.Effective and consistent communication: Building trust through consistent, transparent updates about regulatory developments and their implications.Leveraging technology: Utilising advanced data analytics, compliance tools, and fintech platforms to optimise portfolio management and risk assessment.By taking a proactive stance, financial advisors can mitigate fears, provide clarity, and position themselves as indispensable partners to their clients.Maintaining focus on clarity, compliance, and adaptability will ensure resilience in the face of potential changes to the UK’s wealth taxation landscape.If you're looking for further intel on the market, support to find top talent or for a new career opportunity contact one of our financial service consultants.​Resources DS Burge & Co: What is a wealth tax? Labour’s potential proposal explainedEquality Trust: The scale of economic inequality in the UKTax Justice UK: How would a wealth tax work in practice?Tax Policy Associates: Number of OECD countries levying individual net wealth taxesPie: Wealth tax in the UK, what it might look like

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Financial Services newsletter Friday 27th June 2025

​​Financial Services NewsWealth manager Quilter reported a 200% year-on-year rise in Lifestyle Trusts in 2024, driven by upcoming inheritance tax changes affecting pensions from 2027, prompting clients to restructure wealth and seek tax-efficient solutions. (Financial Planning Today, 25/6/2025, 'Lifestyle Trust numbers rise 200% following IHT shake-up'Manchester-based Pareto Financial Planning reported a 30% rise in new business for the year ending March 2025, fuelled by significant growth in its employee benefits division, which has become a key driver of the firm's expansion. (Financial Planning Today, 25/6/2025, 'Employee benefits drives growth for Pareto FP')AJ Bell has launched "Touch," a streamlined platform designed to help financial advisers implement investment advice more efficiently. The platform features open banking integration, secure messaging, and digital approval tools, aiming to reduce administrative burdens and bridge the advice gap for clients with lower asset values. (Financial Planning Today, 24/6/2025, 'AJ Bell launches streamlined Touch platform')The FCA has announced a focus on "proportionate regulation" in its new 5-year strategy, aiming to simplify rules, reduce outdated requirements, and ease the regulatory burden on smaller firms. This includes reviewing unnecessary data collections and streamlining frameworks to better align with firms' business models. (Financial Planning Today, 19/6/2025, 'FCA to focus on 'proportionate' regulation')Four women CEOs in financial services have been recognised in the King's Birthday Honours List. Debbie Crosbie, CEO of Nationwide, received a damehood; Ruth Handcock, CEO of Octopus Money, was awarded an OBE; Michelle Scrimgeour, former CEO of LGIM, earned a CBE; and Tiina Lee, CEO of Citi UK, also received a CBE for their contributions to the sector. (Financial Planning Today, 16/6/2025, 'Women financial services CEOs awarded King's honours')A study by Capital Group reveals that 27% of high-net-worth (HNW) millennials prefer seeking investment guidance from social media and "finfluencers" over financial advisers (18%). Despite this, 65% of Gen X and millennial inheritors regret their inheritance decisions, with many wishing they had invested more. The research highlights a growing reliance on non-traditional advice sources and the challenges of succession planning. (Financial Planning Today, 13/6/2025, 'HNW millennials prefer finfluencers to advisers')Nine Wealth Management, a Welsh Financial Planning firm and St. James's Place partner, has achieved Chartered Firm status from the Chartered Institute for Securities and Investment (CISI). This recognition highlights their commitment to professionalism, integrity, and client care in financial planning. (Financial Planning Today, 12/6/2025, 'Welsh SJP partner firm gains Chartered Firm status')Tatton Asset Management reported a 28.9% rise in pre-tax profits to £21.6m and a 24% increase in assets under management (AUM) to £21.83bn for the year ending March. The firm also saw a 13.8% growth in IFA firms and a 22% rise in client accounts. CEO Paul Hogarth highlighted strong progress despite market challenges and reaffirmed the goal of reaching £30bn AUM by FY29. (Financial Planning Today, 10/6/2025, 'Tatton profits and AUM climb by a quarter')Intelliflo has launched two new products: Intelliflo IQ, an AI-driven adviser-client relationship tool, and Intelliflo Video, a video integration service. These tools aim to enhance adviser efficiency, streamline financial planning, and improve client engagement. Intelliflo IQ includes AI-powered assistants for engagement and advice, while Intelliflo Video simplifies financial concepts through educational content. (Financial Planning Today, 10/6/2025, 'Intelliflo launches video and AI-driven advised client products')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')Time for a pay rise? Check your salary with our calculator - Compare your salary against market benchmarks with the IDEX Salary Calculator, designed for professionals in General Insurance and Financial Services. Discover how your earnings stack up against minimum, average, and maximum rates for your role and region, while accessing expert career advice and exploring new job opportunities. (IDEX Consulting news, 'Time for a pay rise? Check your salary with our calculator')Optimise the interview process to find the best hire - Smart hiring starts with mastering the interview process. Employers can improve outcomes by using structured frameworks, multi-method assessments, and diverse panels to reduce bias. Research shows structured approaches cut costs and improve hiring accuracy, while AI tools and active listening further enhance candidate selection. (IDEX Consulting news, 'Optimise the interview process to find the best hire')Financial Services M&A: tips from our experts - M&A activity remains strong, with sellers encouraged to act quickly to maximise sale value. Key strategies include planning exits early, ensuring financials are in order, and leveraging expert advice to navigate regulatory changes. The sooner firms can engage an M&A specialist to help them maximise their earn-out, and avoid unnecessary tax charges, the better. (IDEX Consulting news, 'Financial Services M&A: tips from our experts')Mergers and AcquisitionsWealth managers are shifting M&A strategies, focusing on cultural alignment and long-term value over rapid cost-cutting. SEI research shows 75% of deals aim for growth and scale, with 77% of firms planning acquisitions in 2025. However, only 32% of firms meet financial targets due to under-resourced integrations. (Momodou Musa Touray, 26/6/2025, Money Marketing, 'Wealth managers rethink strategy amid M&A surge')Fairstone has achieved its 100th Downstream Buy Out (DBO) milestone by acquiring Halifax-based Richardson Premier Wealth Ltd. This marks a key step in Fairstone's growth strategy, supporting over 60,000 clients and managing £20bn in assets. The DBO model offers firms operational support and phased earn-outs, with average payouts exceeding 120% of sale value. (Momodou Musa Touray, 26/6/2025, Money Marketing, 'Fairstone reaches 100th DBO milestone with Halifax IFA')Wren Sterling has acquired City Financial, a Scottish financial planner managing £700m in assets under management (AUM), doubling its presence in Scotland and strengthening its national footprint. (Financial Planning Today, 25/6/2025, 'Wren Sterling acquires £700m AUM Scottish Financial Planner')Manchester-based Chartered Financial Planning firm Suttons Independent Financial Advisors has acquired Bolton-based Whitewell Financial Planning, adding £40m in assets under management. This marks Suttons' third acquisition, enhancing its service offerings and expanding its client base while maintaining Whitewell's founder, Phil O’Connor, as the main client contact. (Financial Planning Today, 23/6/2025, 'Manchester-based Chartered Planner acquires Bolton firm')Openwork has acquired Milecross, a 100-adviser firm with £750m in assets under management, marking its first acquisition since receiving a £120m investment from Bain Capital. The deal supports Milecross's succession planning while maintaining its management team and strengthening Openwork's adviser network. (Financial Planning Today, 19/6/2025, 'Openwork acquires 100 adviser member firm')Shackleton, formerly the Skerritts Group, has been acquired by New York-based private equity firm Lee Equity Partners, succeeding Sovereign Capital Partners. Shackleton, managing £7.2bn in assets, aims to leverage this investment to expand its UK footprint and capitalise on industry consolidation. (Financial Planning Today, 17/6/2025, 'Shackleton taken over by New York private equity firm')Oakglen Wealth, a Jersey-based investment manager, has acquired Homebuyer Financial Services Limited for an undisclosed amount. This acquisition expands Oakglen's services to include comprehensive financial and retirement planning alongside its core wealth management offerings. Homebuyer's leadership will assist during the transition, ensuring continuity for clients. (Financial Planning Today, 10/6/2025, 'Oakglen Wealth acquires Jersey Financial Planning firm')Loyal North has acquired two South West financial advice firms, Blue House Financial Services and Lewins Investments, adding £80m in client funds. These firms will integrate into Loyal North's regional hub, Milsted Langdon Financial Planning, ensuring continuity of service and a client-first approach. (Financial Planning Today, 10/6/2025, 'Loyal North snaps up two South West firms')Frenkel Topping, a Salford-based financial adviser, is in talks over a £68m takeover bid from private equity firm Harwood. The offer includes a cash deal of 50p per share or an alternative mix of cash and shares in a new company. Shareholders opting for the latter can retain a final dividend. Harwood has until 30th June to formalise the bid. (Financial Planning Today, 2/6/2025, '£68m private equity bid for Frenkel Topping')​MoversFormer Treasury Director Kirstin Baker has been appointed interim Chair of The Pensions Regulator (TPR), effective from August 1, 2025, for up to nine months, succeeding Sarah Smart and bringing extensive experience from her roles in the civil service and regulatory bodies. (Financial Planning Today, 24/6/2025, 'New interim chair for The Pensions Regulator')TrinityBridge, formerly Close Brothers Asset Management, has appointed veteran Financial Planner Nigel Stockton as CEO, subject to regulatory approval. Stockton, who previously led Ascot Lloyd for eight years, overseeing 80 acquisitions and significant growth, succeeds Eddie Reynolds, under whose leadership managed assets rose from £16bn to £21bn and the firm rebranded under Oaktree Capital Management. (Financial Planning Today, 24/6/2025, 'TrinityBridge hires veteran Financial Planner as CEO')Hulya Gunay, formerly with Aegis Financial Planning and St. James’s Place, has joined Hoxton Wealth's UK team, focusing on cross-border financial planning. With experience as an expat and a commitment to achieving Chartered Financial Planner status, she aims to leverage Hoxton's global presence to serve internationally mobile clients. (Financial Planning Today, 19/6/2025, 'Former Aegis and SJP adviser joins Hoxton Wealth')Network ValidPath has appointed Roger Perry, formerly of Defaqto, to lead the expansion of its IFA proposition. With 20 years of experience driving the success of adviser software at Defaqto, Perry will focus on enhancing member services, developing provider relationships, and advancing technology and AI solutions to support IFAs. (Financial Planning Today, 19/6/2025, 'Validpath hires Defaqto’s Perry to spearhead growth')Ian Pickford, a Chartered Financial Planner and former CEO of Forvis Mazars Financial Planning, has been appointed as an independent Non-Executive Director at Fintel. With over 35 years of experience, he will focus on strategic development and chair the remuneration and nomination committees. (Financial Planning Today, 17/6/2025, 'Chartered Financial Planner becomes Fintel director')Brooks Macdonald has appointed former England rugby player Josh Lewsey as Group Strategy and Corporate Development Officer. With over 20 years in financial services, Lewsey brings experience from roles in private equity and Ernst & Young. He joins the executive team to align strategic goals with operational execution. (Financial Planning Today, 13/6/2025, 'Brooks adds ex-rugby pro to exec team')Stuart Coombe, a rural specialist Financial Planner at Old Mill, has been promoted to Partner. Joining in 2008, Coombe has developed expertise in advising rural businesses and individuals. He plans to mentor upcoming advisers while continuing to serve his clients. (Financial Planning Today, 11/6/2025, 'Old Mill promotes rural specialist Planner to partner')First Wealth has appointed Jess Biggs, formerly of Evelyn Partners, to lead its new sports and entertainment division. With extensive experience supporting elite clients in sports and entertainment, and a background in competitive sports, Biggs will provide tailored financial advice for clients with unique career challenges. (Financial Planning Today, 11/6/2025, 'Chartered Planner to launch sports and entertainment arm')Sarah Pritchard has been promoted to Deputy CEO of the FCA, a newly created role reflecting the regulator's expanding remit. Joining the FCA in 2021, Pritchard previously led its supervision, policy, and competition functions and has extensive experience in financial crime compliance, including roles at HSBC and the National Economic Crime Centre. (Financial Planning Today, 10/6/2025, 'Sarah Pritchard appointed deputy CEO of FCA')Andrew McGlone, CEO of Quilter Cheviot, will step down later this year after 31 years with the firm. Starting as a trainee, McGlone rose through the ranks to become CEO in 2019. He will be succeeded by John Goddard, a 29-year HSBC veteran, in September. (Financial Planning Today, 10/6/2025, 'Quilter Cheviot CEO to step down')Chris Pond, former Work and Pensions Minister, has been appointed Chair of the FCA's Financial Services Consumer Panel, succeeding Helen Charlton. With extensive experience in consumer and social justice issues, Pond aims to balance consumer protection with economic growth. (Financial Planning Today, 2/6/2025, 'New chair of FCA Financial Services Consumer Panel')​All information provided in this market digest has been gathered from Financial Planning Today, Money Marketing, and IDEX Consulting.

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Financial Services newsletter Friday 30th May 2025

​​Financial Services News​JM Finn reported a 17% rise in pre-tax profits to £11.9m for 2023, despite a 7% increase in operating costs, with funds under management growing 6% to £11.7bn. (Financial Planning Today, 28/5/2025, 'JM Finn profits rise 17% despite costs increase')James Edgedale, longtime JM Finn Chairman (1999–2020) and Investment Director, passed away aged 62; he joined JM Finn in 1987, helped expand the firm, and later served as a Non-Executive Director at Church House Investments. (Dylan Lobo, 28/5/2025, Citywire Wealth Manager, 'JM Finn stalwart James Edgedale dies')​Michael O'Brien, a Non-Executive Director at Aberdeen Group and veteran investment executive, passed away unexpectedly on 24 May 2025; he joined the board in 2022 and previously held senior roles at JPMorgan, BlackRock, and Barclays Global Investors. (Financial Planning Today, 27/5/2025, 'Aberdeen director dies unexpectedly')AJ Bell's platform customer base grew 9% to 593,000 over six months, with assets under administration reaching a record £90.4bn, revenue up 17% to £153.2m, and pre-tax profit rising 12% to £68.8m, driven by £3.3bn in net inflows and strong brand appeal. (Financial Planning Today, 23/5/2025, 'AJ Bell platform customers up 9% to 593,000')The Financial Services Compensation Scheme (FSCS) has reduced its 2025/26 levy forecast by £36m to £356m, with the life distribution and investment intermediation class—covering most financial advisers—seeing a drop from £123.6m to £87.3m, due to £56m recovered from failed firms and fewer expected claims. (Financial Planning Today, 23/5/2025, 'Adviser FSCS levy costs drop by £36m')Phoenix Group is considering rebranding itself as Standard Life within the next 12 months, aiming to revive the historic brand on the London Stock Exchange. The company, which acquired the Standard Life brand from abrdn in 2021, has successfully leveraged it to expand into individual annuities and bulk purchase annuities, achieving significant market share. The potential rebrand aligns with Phoenix’s strategy to modernize its identity and strengthen its position in the retirement and savings sectors. A final decision is expected in the coming months. (Momodou Musa Touray, 23/5/2025, Money Marketing, 'Phoenix Group considers rebrand to Standard Life')Evelyn Partners has launched its low-cost Index Managed Portfolio Service (MPS) to UK financial advisers, offering five risk-profiled portfolios with a 0.15% annual management fee and estimated 0.10% underlying fund charges; the service, previously exclusive to direct clients, is now available on platforms including Aviva, Abrdn Wrap, and Quilter. (Financial Planning Today, 20/5/2025, 'Evelyn launches low-cost index MPS to advisers')Quilter Cheviot has relocated its 64-member Birmingham team to the Paradise development, enhancing its presence in the city. This move aligns with the firm's strategy to expand its regional footprint and modernise its office spaces. The new location offers improved facilities to better serve clients and support the team's growth. (Natalia Vasnier, 19/5/2025, Citywire Wealth Manager, 'Quilter Cheviot moves 64-strong Birmingham team to Paradise')Amid expectations that President Trump's reciprocal tariffs will partially return after the current pause ends on July 8, 2025, fund managers are reducing U.S. investments, anticipating sub-1% GDP growth and potential recession; Quilter's Investor Trends Survey reveals that 53% now foresee the U.S. delivering the worst index returns, a reversal from six months prior when it was expected to be the best performer. (Financial Planning Today, 20/5/2025, 'Fund managers turn their backs on US on tariff fears')Triple Point has launched a new inheritance tax (IHT) tool designed to support financial advisers in estate planning. The tool aims to streamline the process of assessing clients' IHT liabilities and identifying suitable investment solutions. By providing a user-friendly interface and real-time calculations, it assists advisers in making informed decisions and enhancing client outcomes. (Dan Cooper, 16/5/2025, Money Marketing, 'Triple Point launches IHT tool to support financial advisers')Only 9% of UK adults paid for financial advice in the past two years, down from 11% in 2023, according to The Lang Cat's 2024 Advice Gap report. The decline is attributed to the Financial Conduct Authority’s Consumer Duty regulation, which 80% of advisers say has made it harder to serve clients, leading 55% to stop advising those with lower investable assets. Despite this, 91% of consumers who received advice found it helpful. (Dan Cooper, 16/5/2025, Money Marketing, 'Less than 9% of UK population received financial advice last year')Aviva's wealth division reported a 15% year-on-year decline in net flows to £2.3bn for Q1 2025, attributed to the outflow of a large workplace scheme; however, platform business net flows increased by 52%, and total net flows reached £4bn by April, representing 6% of opening assets under management. (Financial Planning Today, 15/5/2025, 'Aviva wealth division sees 15% drop in net flows for Q1')Quilter’s WealthSelect MPS has surpassed £20bn AUM, boosted by availability on third-party platforms and £1.4bn in Q4 2024 inflows; it offers active, passive, blended, and sustainable portfolios managed by Stuart Clark, Helen Bradshaw, and Bethan Dixon. (Dan Cooper, 15/5/2025, Money Marketing, 'Quilter’s WealthSelect MPS smashes £20bn AUM barrier')Public trust in the UK pensions industry has increased for the fourth consecutive year, rising to 5.26 out of 10 in 2023, up from 4.95 in 2022, according to Trafalgar House’s Trust & Confidence Index. (Financial Planning Today, 15/5/2025, 'Trust in pensions sector drops for first time in 5 years')Avenir has launched a ChatGPT-powered tool for wealth management firms, offering a unified, AI-driven interface to streamline data access, enhance client service, and support compliance. This enterprise-grade solution aims to transform how advisers interact with client information and internal systems. (Darius McQuaid, 13/5/2025, Money Marketing, 'Avenir unveils ChatGPT for wealth managers')Plannr has integrated AI assistants Emma and Evie into its CRM system, developed in partnership with AdvisoryAI, to automate administrative tasks such as meeting notes, suitability reports, and client data updates, aiming to enhance adviser efficiency and client capacity. (Financial Planning Today, 9/5/2025, 'Plannr adds AI assistants to CRM')​A global survey by the Financial Planning Standards Board (FPSB) found two-thirds of financial planners are using or plan to adopt AI within 12 months, with 78% seeing it as a way to improve client service and 60% expecting better advice quality, though concerns remain over data privacy and cybersecurity. (Financial Planning Today, 8/5/2025, '2 in 3 Financial Planners utilising AI')Evelyn Partners reported £345 million in net inflows for Q1 2025, maintaining positive growth despite a £1.1 billion decline in assets under management to £61.9 billion, attributed to market volatility; gross inflows of £2 billion offset £1.7 billion in outflows, marking a 13% annual increase. (Financial Planning Today, 8/5/2025, 'Net flows hold steady for Evelyn Partners as assets dip in Q1')David Mead, Founder of Future Proof and joint Head of Protection at St. James’s Place, warns many advisers struggle to consistently recommend income protection and is concerned about reduced market competition after Aegon UK’s exit; he’s actively involved in FCA discussions on protection product value and sales practices. (Tom Browne, 8/5/2025, Money Marketing, 'Advisers urged to prioritise income protection as financial risk grows')Risk and Compliance talent insights - The risk and compliance sector is evolving fast, driven by complex regulations, tech advances, and focus on climate risk, ESG, and data privacy. Employers need to streamline hiring and offer strong incentives, while candidates should keep up with new technologies and regulations to stay competitive. (IDEX Consulting news, 'Risk and Compliance talent insights')Time for a pay rise? Check your salary with our calculator - The IDEX Consulting Salary Calculator helps you benchmark your pay against current market rates. By entering your role, experience, and location, you get a personalised salary range - ideal for career planning, job moves, or salary reviews. (IDEX Consulting news, 'Time for a pay rise? Check your salary with our calculator')The Employee Benefits talent market: key insights - In 2025, employee benefits face talent shortages and rising salary expectations. Employers seek tech-savvy, client-focused professionals and must offer strong employer brands and competitive packages. Candidates should build their personal brand and stay updated on industry trends. (IDEX Consulting news, 'The Employee Benefits talent market: key insights')Is there a wealth management talent shortage? - The wealth management sector faces a talent shortage due to retirements, high entry barriers, and low youth interest. Firms can tackle this by offering flexible work, investing in development, and providing competitive pay. (IDEX Consulting news, 'Is there a wealth management talent shortage?')Mergers and Acquisitions​Mattioli Woods and Kingswood have agreed to merge, forming a £25bn wealth management group serving over 25,000 clients across 40 UK offices; the deal, subject to FCA approval, aims to enhance scale, client service, and adviser development, with plans to train 50 new advisers annually. (Financial Planning Today, 29/5/2025, 'Mattioli Woods and Kingswood merger confirmed')Rathbones Asset Management is actively seeking alternative investment opportunities, particularly in infrastructure funds. This strategic move is driven by the firm's aim to diversify its portfolio and capitalize on sectors offering inflation-linked returns. The initiative is led by David Coombs and Will McIntosh-Whyte, who have recently made their first foray into core infrastructure investments, including funds like HICL Infrastructure and The Renewables Infrastructure Group, attracted by their government-backed revenues and liquidity. (Danielle Levy, 28/5/2025, Citywire Wealth Manager, 'Exclusive: Rathbones funds boss on the hunt for alts deals')Bain Capital has acquired a 30% stake in UK adviser network Openwork for £120 million, with FCA approval and 98% partner support; the investment aims to accelerate growth and adviser succession initiatives. (Financial Planning Today, 27/5/2025, 'Bain Capital pays £120m for 30% stake in Openwork')​Saltus has acquired Hertfordshire-based Delta Financial Management, a £400m AUM firm with over 500 clients, as part of its strategy to expand financial planning capabilities; Delta's nine-member team will remain, with Directors Jarrod Ellis and Amin Malik becoming Saltus partners. (Financial Planning Today, 23/5/2025, 'Saltus buys £400m AUM Herts Financial Planner')Unum UK has acquired the renewal rights to Generali UK's employee benefits business, including its Group Risk products, and has joined the global Generali Employee Benefits (GEB) Network. This strategic move enables Unum to expand its reach in the UK workplace benefits sector and collaborate with GEB to offer solutions to global employers. The acquisition also involves integrating Generali UK's employee benefits team and managing in-force policies and claims to ensure continuity and a seamless transition for customers. (Momodou Musa Touray, 23/5/2025, Money Marketing, 'Unum acquires Generali UK’s employee benefits business')Royal London is acquiring UK infrastructure asset manager Dalmore Capital, which oversees £6bn in assets including the Thames Tideway Tunnel and 24 UK wind farms; the deal includes a £500m commitment to future Dalmore funds and aims to expand Royal London's private assets strategy. (Financial Planning Today, 22/5/2025, 'Royal London to buy infrastructure asset manager')According to a report from Heligan Group, UK IFA M&A activity surged in April 2025, driven by demographic pressures, regulatory demands, and the need for operational efficiency; notable transactions included Söderberg & Partners' partial stake in Active Financial Planners, Corbel Partners' succession-focused buyouts, and Perspective Financial Group's nine acquisitions year-to-date. (Financial Planning Today, 19/5/2025, 'Adviser M&A activity surges in April')Tribe Impact Capital has acquired Snowball Impact Investments, a UK-based impact fund manager known for its diversified multi-asset portfolios aligned with social equity and environmental sustainability. The acquisition enhances Tribe’s impact investing capabilities and aligns with its mission to deliver financial returns alongside positive societal and environmental outcomes. (Darius McQuaid, 13/5/2025, Money Marketing, 'Tribe Impact Capital acquires Snowball Impact Investments')​MoversDan Olley is stepping down as CEO of Hargreaves Lansdown after less than two years, following the firm's £5.4bn acquisition by a private equity consortium. Richard Flint, former CEO of Sky Betting and Gaming and current transformation committee chair, will serve as interim CEO pending regulatory approval. Olley will remain for a five-month transition period. The leadership change comes amid efforts to revamp digital services and enhance competitiveness in the investment platform market. (Financial Planning Today, 29/5/2025, 'Hargreaves CEO steps down after 2 years')Schroders has promoted Jamie Fowler to Head of UK Wealth, elevating him from his previous role as Head of Regional and Advisory Sales. Fowler, who joined Schroders in 2002 after serving as a Regional Sales Manager at HSBC Asset Management, brings over two decades of experience in wealth management and advisory services. His appointment is part of Schroders' strategic efforts to strengthen its UK wealth management division. (Darius McQuaid, 19/5/2025, Money Marketing, 'Schroders promotes Jamie Fowler to head of UK wealth')Seccl, the Octopus-owned investment platform managing over £3bn for 250,000+ clients, is set for dramatic expansion after fresh investment; CEO David Ferguson moves to Executive Chairman to focus on strategy, and the firm is actively searching for a new CEO to lead growth and aims to triple assets under administration within a year. (Financial Planning Today, 20/5/2025, 'Seccl promises ‘dramatic expansion’ after Octopus investment')Lindsey Rix-Broom, CEO of Canada Life UK since 2021, will become CEO for Europe at Great-West Lifeco on 1 July 2025, continuing to lead Canada Life UK until a successor is appointed; under her leadership, Canada Life UK hit record £4.9bn sales in 2024, and she is recognized for championing diversity and inclusion. (Dan Cooper, 22/5/2025, Money Marketing, 'Canada Life UK CEO Lindsey Rix-Broom to take on European role')Mirabaud Wealth Management has hired Jonathan Unwin as Head of Portfolio Management UK to support its UK expansion; he brings 16+ years’ experience from Credit Suisse and Banque Havilland. (Natalia Vasnier, 21/5/2025, Citywire Wealth Manager, 'Mirabaud hires RBC Wealth bespoke specialist for UK push')Personal Finance Society (PFS) Vice-President Daniel Williams and Member Director Ben Wright have resigned, citing concerns over the organisation's governance and structure; Williams expressed issues with the PFS's culture and transparency, while Wright criticised the board's lack of independence and clarity of purpose. (Financial Planning Today, 19/5/2025, '2 PFS board members resign including vice-president')Alex Hoctor-Duncan has stepped down as CEO of River Global after three and a half years, during which he led the firm's rebranding from AssetCo. His responsibilities will be divided: Matt Hudson, previously Head of Equities, becomes Chief Investment Officer of River Global Investors, assuming regulatory and management duties for the asset management arm, while Gary Marshall, the group's Chief Finance and Operations Officer, takes over as CEO of SVM Asset Management, handling Hoctor-Duncan's other responsibilities. (Dylan Lobo, 16/5/2025, Citywire Wealth Manager, 'River Global CEO Hoctor-Duncan exits')Brooks Macdonald has appointed Karen Charlery as Chief Operating Officer, effective 23 June 2025. Charlery joins from BlackRock, where she was EMEA Head of Regulatory Change, bringing over 20 years of experience in financial services. She replaces Gavin Neilson, who has served as interim COO since August 2024. (Financial Planning Today, 15/5/2025, 'Brooks Macdonald looks to Blackrock for new COO')Rathbones Asset Management has appointed Emma Letheren, formerly of RBC Capital Markets, as an equity research analyst in its multi-asset team. With over seven years of experience focusing on European consumer staples, Letheren will report to fund manager Will McIntosh-Whyte and head of multi-asset investing David Coombs. (Sophie Downes, 22/5/2025, Citywire Wealth Manager, 'Rathbones AM boosts multi-asset team with ex-Amati hire')In further news...Rathbones Asset Management has strengthened its distribution leadership with the appointments of James Crossley as Head of Asset Management Distribution, Abigail Sater as Head of Distribution Strategy, and Kim Nelson as Business Development Director for Scotland and Northern Ireland. Crossley brings over 25 years of experience from LGIM and Jupiter Asset Management, Sater joins from The Big Exchange and Standard Life Aberdeen, and Nelson previously led client relationships at Schroders. These hires are part of Rathbones' strategic initiative to enhance its intermediary and regional distribution capabilities. (Darius McQuaid, 13/5/2025, Money Marketing, 'Rathbones AM makes three senior hires to distribution team')Canaccord Wealth has appointed Gary Steel as a Senior Wealth Planner in London, bringing over 25 years of experience from Brewin Dolphin, where he was Divisional Director; Steel will focus on lifestyle financial planning and report to David Goodfellow, Head of Wealth Planning at Canaccord Wealth. (Financial Planning Today, 8/5/2025, 'Canaccord adds senior Planner from Brewin Dolphin')Louis Petherick will join Nucleus Financial Platforms as Group Chief Risk Officer in August 2025, bringing over 20 years of risk leadership experience from Brooks Macdonald, FNZ UK, and AJ Bell; he succeeds interim CRO Richard Collins. (Dan Cooper, 8/5/2025, Money Marketing, 'Nucleus appoints Louis Petherick as group CRO')Evelyn Partners has appointed David Little as a Partner in financial planning at its Glasgow office. He joins from 7IM Private Client, bringing over 25 years of experience and holds Chartered Financial Planner status as well as Fellowship with the Personal Finance Society. His appointment strengthens the firm's financial planning and investment services across Scotland. (Financial Planning Today, 7/5/2025, 'Evelyn Partners adds Chartered Planner to Glasgow team')Darren Bentley, former Chief Customer Officer at MoneySuperMarket and MoneySavingExpert with over 20 years’ experience, has joined Flagstone as Chief Growth Officer to drive its billion-pound growth strategy, focusing on asset growth, customer experience, and digital marketing. (Dan Cooper, 7/5/2025, Money Marketing, 'Flagstone appoints former MoneySupermarket executive to drive billion-pound growth strategy')Warren Buffett, at 94, announced he will step down as CEO of Berkshire Hathaway by the end of 2025, after leading the company for over 60 years; he has recommended Greg Abel, currently Vice Chairman of non-insurance operations and CEO of Berkshire Hathaway Energy, as his successor. (Financial Planning Today, 6/5/2025, 'Buffet to step down as CEO of Berkshire Hathaway')Chancellor Rachel Reeves has appointed Julia Black, Anita Kimber, John Ball, and Stéphane Malrait as new Non-Executive Directors to the FCA Board, with terms starting between May and October 2025; Richard Lloyd’s term has also been extended. The appointees bring strong expertise in financial regulation, technology, pensions, and market structure, supporting the FCA’s goal to strengthen regulatory capabilities and align with the government’s Plan for Change. (Financial Planning Today, 6/5/2025, 'Chancellor appoints four new FCA board members')Jo Swain has been appointed Chief Risk Officer at Clifton Asset Management, bringing over 30 years of experience in financial services. Previously, she served as Compliance Director at Succession Wealth and held senior roles at Barclaycard, Aviva Life Insurance, and Phoenix Group. Jo will join Clifton's main board in early May 2025, contributing to the company's growth and regulatory compliance efforts. (Tom Browne, 6/5/2025, Money Marketing, 'Clifton Asset Management appoints Jo Swain as chief risk officer')​​All information provided in this market digest has been gathered from Financial Planning Today, Money Marketing, Citywire Wealth Manager, and IDEX Consulting.

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Financial Services newsletter Friday 2nd May 2025

​​Financial Services NewsAberdeen’s advice arm saw £0.6bn in Q1 2025 outflows—its lowest since Q3 2023 and a 30% year-on-year improvement—attributed to service and platform enhancements; assets dropped to £73.7bn, while Interactive Investor offset losses with £1.6bn in inflows and 9% customer growth. (Financial Planning Today, 30/4/2025, 'Aberdeen Adviser sees £0.6bn Q1 net outflows')George Kinder, Founder of the Life Planning movement, has secured a UK Innovator Founder Visa to launch the next phase of his global strategy from London, aiming to integrate Life Planning principles into workplaces and expand his mission across the UK. (Financial Planning Today, 29/4/2025, 'Kinder secures UK innovator visa to expand global vision')Frenkel Topping reported record FUM of £1.56bn for 2024, with DFM assets up 26% to £1.03bn; revenues rose to £37.4m and pre-tax profits jumped nearly 31% to £4.2m. (Financial Planning Today, 28/4/2025, 'Frenkel Topping funds climb to £1.56bn')Tech-savvy financial advice firms generate significantly stronger results, with 119% more recurring revenue, 105% more total revenue, 86% more AUA, and 39% more clients than low-adoption peers, according to Intelliflo’s latest eAdviser Index based on nearly 4bn user interactions. (Financial Planning Today, 28/4/2025, 'Tech savvy advisers outperforming rivals')SIPP and SSAS provider InvestAcc reported a 16.3% rise in revenue to £10.5m for H2 2024, following its £41.5m acquisition and rebrand last October; it also agreed to acquire AJ Bell’s Platinum SIPP and SSAS business for £25m, completing later this year. (Financial Planning Today, 25/4/2025, 'InvestAcc revenue up 16% after SIPP acquisitions')Jupiter Fund Management saw AUM fall by £1bn to £44.3bn in Q1 2025, driven by £1.5bn in retail outflows, partly offset by £1bn in institutional inflows; the company cited a challenging macro environment and investor sentiment towards risk assets. (Financial Planning Today, 25/4/2025, 'Jupiter assets fall by £1bn as outflows continue')St James’s Place saw AUM drop £2bn to £188.6bn in Q1 2025 despite a 29% rise in gross inflows; the dip was attributed to global market declines, but net inflows more than doubled to £1.69bn, with gross inflows rising to £5.14bn, reflecting strong adviser-client relationships. (Financial Planning Today, 24/4/2025, 'Assets dip for SJP despite strong inflows')Quilter reported record core net inflows of £2.28bn in Q1 2025, up 181% year-on-year and 16% higher than Q4 2024; CEO Steven Levin cautioned that market volatility could affect profitability this year. (Financial Planning Today, 23/4/2025, 'Quilter Q1 core net inflows rise 181%')Shackleton (formerly Skerritts Group) has launched a personal injury and Court of Protection division after acquiring £1.4bn AUM IM Asset Management from Irwin Mitchell Group—its latest move under new CEO Paul Feeney and part of an ongoing expansion strategy that’s included 17 acquisitions since 2021, most recently PK Financial Planning. (Financial Planning Today, 23/4/2025, 'Shackleton launches £1.4bn AUM personal injury business')Marlborough has launched a bespoke portfolio management service for advisers supporting high-net-worth clients, charities, and trustees; developed by Edward Kennedy, who joined the firm in June as Head of Bespoke Discretionary Fund Management, the service offers tailored portfolios, tiered fees, and is backed by a new IFA Charter to reinforce adviser partnerships. (Financial Planning Today, 22/4/2025, 'Marlborough adds new bespoke portfolio service for HNWs')Tatton Asset Management reported record net inflows of £3.7bn in the past year, representing 22.3% of opening AUM; total AUM reached £21.8bn as of March 31, up from £17.6bn in 2024. The firm is on track to meet its £30bn AUM target by March 2029, having added £4.2bn in the first year. (Financial Planning Today, 15/4/2025, 'Record net inflows of £3.7bn for Tatton')Quilter Cheviot Europe has launched three new international multi-asset funds—Balanced, Growth, and Equity—available in Euro, Sterling, US Dollar, and Singapore Dollar; the funds invest across equities, fixed income, and alternatives, and are accessible directly or via 10 platforms with a minimum investment of €20,000. ​(Financial Planning Today, 10/4/2025, 'Quilter Cheviot adds 3 international multi-asset funds')The FCA is proposing a 2.8% increase in regulatory fees for advice firms, starting in April next year, as part of a consultation document (CP25/7); the funding requirement for fee-block A.13, which includes advisers, arrangers, dealers, and brokers, has risen by 3.4%, from £103m to £106.5m, impacting around 10,023 firms. (Financial Planning Today, 8/4/2025, 'FCA proposes 2.8% fee increase for advice firms')In further news...The FCA is enhancing support for innovative firms through its 2025–2026 work programme, introducing measures such as assigning an authorisation case officer from the outset for firms using the regulatory sandbox, and launching the Private Intermittent Securities and Capital Exchange System (PISCES) to facilitate capital raising for private companies. ​(Financial Planning Today, 8/4/2025, 'FCA ramps up support for innovative firms')Westerby Group, a Leicester-based wealth adviser and pensions firm, has transitioned to employee ownership through an Employee Ownership Trust (EOT). Founder and Chairman Les McLintic has transferred his controlling interest to the trust, enabling over 100 staff members to share in the company's future success. Established in 1986, Westerby now manages over £1.66 billion in assets and serves more than 5,000 clients across its offices in Leicester, Weymouth, and Manchester. (Financial Planning Today, 4/4/2025, 'Westerby Group moves to employee ownership')Looking for a new career opportunity? Check out these latest jobs - IDEX Consulting's Financial Services job portal features over 230 opportunities across the UK, Europe, North America and Asia, including roles in wealth management, financial planning, compliance, and investment advisory. IDEX offers a salary calculator and a 2025 salary guide to assist professionals in navigating the financial services job market. (IDEX Consulting news, 'Looking for a new career opportunity? Check out these latest jobs')M&A resource library - Access our free resources where M&A buy-and-sell leaders, and tax, regulatory and legal experts share a range of useful guidance, including; how to maximise your sale value and manage a smooth transaction. (IDEX Consulting news, 'M&A resource library')Expert insights: how businesses can drive value add sustainability - Building and implementing a sustainability strategy involves aligning with global frameworks, avoiding greenwashing, and meeting stakeholder expectations. It can help businesses attract top talent, secure external investment, and future-proof operations, offering long-term value and competitive advantage. After speaking to Rosina Watson, Associate Professor of Sustainability at the Cranfield School of Management, IDEX Consulting shares strategic advice and practical tips on how businesses can get started and drive real value. (IDEX Consulting news, 'Expert insights: how businesses can drive value add sustainability')How's your mental health? Improve it with these tips- Prioritising mental health in the workplace is essential for enhancing employee well-being, engagement, and productivity. Research shows that employee burn out and stress is increasingly leading to attrition and dis-engagement. IDEX Consulting shares what businesses need to do now to prevent situations getting worse. (IDEX Consulting news, 'How's your mental health? Improve it with these tips')Mergers and AcquisitionsFidelius Group has acquired a minority stake in London-based independent financial adviser Vobis Ltd, marking a strategic move to expand its presence in the capital and enhance its wealth management services. (Momodou Musa Touray, 1/5/2025, Money Marketing, 'Fidelius takes minority stake in London IFA Vobis Ltd')Swedish wealth manager Söderberg & Partners has taken a 30% stake in Glasgow-based Murphy Wealth—its first Scottish investment—as part of its UK expansion strategy, which now includes over 20 minority stakes, including recent deals with George Square (£400m AUM), Cheltenham IFA (£290m), Bluezone Capital (£90m), and Alexander Bates Campbell (£140m). (Financial Planning Today, 16/4/2025, 'Swedes take stakes in 4 UK Financial Planning firms' & 'Söderberg takes 30% share in Glasgow's Murphy Wealth')Financial advice network Corbel Partners has acquired seven adviser firms this year—six from within its network—bringing its total to 13 as it targets 250 advisers by 2026; the Warrington-based firm offers a 'cradle-to-grave' model supporting adviser growth, succession, and retirement. ​(Financial Planning Today, 15/4/2025, 'Corbel Partners acquires 7 adviser firms')AAB Wealth, a Scotland-based Chartered Financial Planning firm, has acquired London-based Magus Wealth, adding £650m AUA to its total, which now stands at £1.8bn; the deal, subject to regulatory approval, marks AAB’s first wealth acquisition in London. Magus Wealth, founded in 1998 by Michael Aitken, has offices near Gatwick and in the City of London. (Financial Planning Today, 14/4/2025, 'AAB Wealth acquires £650m AUA London Planner')Benchmark Capital, owned by Schroders, has acquired the remaining minority stake in Harrogate-based Oculus Wealth Management, which has £4bn in AUA and 46 advisory firms; Benchmark initially acquired a 51% stake in December 2022, and since then, Oculus’s network of appointed representatives has grown by 80%, with significant asset growth. (Financial Planning Today, 14/4/2025, 'Benchmark buys remaining 49% of £4bn AUA Oculus')Westerby Group, which recently transitioned to an employee-ownership model, has acquired Manchester-based specialist pension provider and IFA firm Redswan, including its IFA business and trustee companies for SIPPs and SSAS; the acquisition, for an undisclosed sum, will see the businesses integrated into the Westerby Group. (Financial Planning Today, 11/4/2025, 'Westerby snaps up pension and IFA firm Redswan')Newcastle Financial Advisers, a subsidiary of Newcastle Building Society, has acquired County Durham-based Orchard Financial Management, founded in 1988 by Graeme Leigh, who sold the business to retire; the undisclosed deal adds Orchard's investment, pensions, and protection advice services to Newcastle Financial Advisers, which operates across the North East, Cumbria, and North Yorkshire. (Financial Planning Today, 10/4/2025, 'Newcastle Financial Advisers buys County Durham Planner')South East accountants and Financial Planning firm Carpenter Box is merging with East Sussex-based Clarke Brownscombe, which will continue to operate from Lewes and adopt the Carpenter Box brand later this year; Clarke Brownscombe clients will gain access to Carpenter Box’s Financial Planning services, including taxation, later life, estate planning, pensions, and investments. Directors Robert Scrivins and Vicky Anderson will become Partners, and six staff members will join Carpenter Box. (Financial Planning Today, 10/4/2025, 'Carpenter Box to merge with Sussex accountancy firm')Perspective Financial Group has completed nine acquisitions in 2024, adding £900 million in assets under advice (AUA) and significantly expanding its national presence. The acquired firms include Springfield Financial Services (Preston), Millfield Osceola Financial Consultancy (Twyford, Reading), Hawley & Wood (Rotherham), Fortitude Financial Planning (Towcester), Warwick Financial Solutions (Warwick), Edgmoor Financial Planners (Manchester), Keith Mason Wealth Management (Canterbury), a Teesside client bank, and a self-employed adviser buyout. These acquisitions bring Perspective's total to 102 since its founding in 2008, with £1 billion in AUA added in 2024 alone. (Financial Planning Today, 8/4/2025, 'Perspective boosts AUA by £900m with 9 acquisitions')Financial planner and wealth manager MKC Wealth has acquired Yodelar Investments Ltd and its platform Yodelar.com, adding £120 million in AUA and 270 high-net-worth clients. Yodelar Investments will operate under the MKC Wealth name, while Yodelar.com retains its brand. This acquisition brings MKC Wealth’s total AUA to £2.5 billion. (Financial Planning Today, 8/4/2025, 'MKC Wealth acquires £120m AUA Yodelar')Finli Group, formerly Solomon Capital Holdings, has acquired four financial planning firms—Beaufort Financial Taunton, Elaine Snow, Penny Smith, and Lifestyle Financial Choices—adding £220 million in assets under advice (AUA) across England and Scotland. These acquisitions bring Finli's total to 47, with over £5 billion in AUM and more than 100 financial planners serving over 20,000 clients. The firm aims to add £1 billion in assets annually and is open to acquiring adviser firms with at least £25 million in AUA. (Financial Planning Today, 7/4/2025, 'Finli adds 4 new Planner acquisitions')Wealth manager Quilter has acquired NHS pension analyst firm MediFintech, founded by Graham Crossley, for an undisclosed sum. Crossley, now Head of Technical Business Development at Quilter Financial Advisers, will help Quilter’s advisers and IFAs guide NHS clients through complex pension decisions. The acquisition enhances Quilter’s ability to deliver better outcomes for NHS pension clients. (Financial Planning Today, 7/4/2025, 'Quilter acquires former Planner's NHS pension consultancy')EQ Investors is exploring a potential sale, guided by corporate finance advisers, as Chairman John Spiers reevaluates ownership structures. Spiers believes a larger partnership could foster growth and innovation, especially with AI's impact on wealth management. The firm, which remains profitable, will only proceed if it benefits staff and clients. (Financial Planning Today, 4/4/2025, 'EQ Investors mulls potential sale')​Movers7IM has appointed Nick Allen as Chief Integration Officer to lead the onboarding and harmonisation of acquisitions, bringing over 30 years' experience from roles including COO at Schroders Personal Wealth and Lloyds Banking Group. (Financial Planning Today, 1/5/2025, '7IM adds Schroders PW exec as acquisitions accelerate')Evelyn Partners has appointed Sean Hagerty as an Independent Non-Executive Director; he brings 27 years' experience from Vanguard, where he led European operations and launched its UK financial advice service, and has held senior advisory roles with the FCA, HM Treasury, and Investment Association. (Financial Planning Today, 1/5/2025, 'Former Vanguard European head joins Evelyn Partners')Former FCA Consumer Finance Director Roma Pearson, after nearly 30 years at the regulator, has joined compliance consultancy Square 4 Partners in a senior advisory role. At the FCA, she led initiatives on motor finance commission investigations, payday lending oversight, and consumer duty compliance. (Dan Cooper, 1/5/2025, Money Marketing, 'Former FCA director joins Square 4 Partners in senior advisory role')Cathryn Riley has stepped down from her role as Non-Executive Director at the Financial Services Compensation Scheme (FSCS) after completing a four-year term, effective 30 April 2025. During her tenure, Riley contributed to the FSCS's strategic oversight and governance. The FSCS is currently seeking a successor to fill the vacancy. (Dan Cooper, 30/4/2025, Money Marketing, 'FSCS non-exec director steps down after four-year term')Alastair Black, Head of Savings Policy at Abrdn, has announced his retirement after a 35-year career in financial services, including 22 years at Abrdn and its predecessor, Standard Life. He joined the company in 2002 as a Business Development Manager and held various roles encompassing strategy, proposition development, project delivery, policy affairs, risk management, and pricing in long-term savings and investments. Black described his career as an "incredible journey" and plans to remain active in the industry through advisory work. (Dan Cooper, 30/4/2025, Money Marketing, 'Aberdeen’s Alastair Black announces retirement after 35 years in financial services')Wealth Manager TrinityBridge has appointed Andrew Knight as Client Relationship Director for Scotland; a 25-year veteran of the firm and former Financial Planning Director, he will support its regional growth ambitions. (Financial Planning Today, 29/5/2025, 'TrinityBridge FP head becomes Scotland director')Former professional rugby player and Chartered Financial Planner Jason Baggott will co-lead Tweed Wealth Management’s new sports division, bringing his unique blend of elite sports experience and financial expertise; after a seven-year rugby career with teams including Southern Kings and Edinburgh Rugby, he earned a degree in economics and finance from Heriot-Watt University, completed the St. James’s Place Academy Programme, and joined Tweed in 2021. (Financial Planning Today, 28/4/2025, 'Rugby star to lead wealth manager’s sports division')CISI has appointed Hylko Zingstra, Founder of Munehisa & Co and a derivatives specialist, as South East branch president, succeeding Suneeta Puranik; he plans to boost collaboration, innovation in alternatives, and support for new talent in the region. (Financial Planning Today, 22/4/2025, 'CISI appoints new south east president')Evelyn Partners has appointed former Paysafe and Betfair CFO Alex Gersh as its new CFO and Executive Director, succeeding Andrew Baddeley, who becomes CFO of S&W following its sale; Gersh brings over 30 years’ experience, including senior roles at Sportradar, Flutter, and Motorola. (Financial Planning Today, 22/4/2025, 'Evelyn appoints new CFO after splitting business')Raymond James and Charles Stanley have appointed Kim Jenson as interim CEO, following the resignation of Paul Abberley; Jenson, formerly COO of Raymond James’ US Private Client Group with $1.5trn in AUM and over 1.5 million clients, will oversee the UK wealth management business while a search for a permanent CEO is underway. She previously held senior roles at UBS Wealth Management Americas and spent 15 years at Piper Jaffray, including serving on the private client business executive committee. (Financial Planning Today, 15/4/2025, 'Raymond James Wealth Management appoints new CEO')Carla Brown, President of The Personal Finance Society (PFS), has taken on the additional role of Chair, replacing Christine Elliott, who stepped down after only eight months; Brown is a Chartered Financial Planner, Managing Director of Oakmere Wealth Management, and Director at CL Wills and Estate Planning. (Financial Planning Today, 15/4/2025, 'PFS appoints new chair as incumbent Elliott exits')Nikhil Rathi has been reappointed as Chief Executive of the Financial Conduct Authority for a second five-year term, extending his tenure until 2030; he originally joined the regulator in October 2020, and his reappointment was confirmed by Chancellor Rachel Reeves as crucial for delivering key regulatory reforms. (Financial Planning Today, 10/4/2025, 'FCA CEO Rathi reappointed for second 5-year term')Wesleyan Financial Services has appointed Paul McMahon, former CEO of FNZ, as a Non-Executive Director. With over 40 years of experience, McMahon has held senior roles at Zurich, AXA Sun Life, and FNZ, and founded his own advisory business in 2013. He will also become Chair of Wesleyan Unit Trust Managers, pending regulatory approval, succeeding Ian McCaig. This appointment supports Wesleyan's strategy to enhance digital capabilities and expand services for doctors, dentists, and educators. (Financial Planning Today, 3/4/2025, 'Wesleyan adds former FNZ CEO to board')​All information provided in this market digest has been gathered from Financial Planning Today, Money Marketing, and IDEX Consulting.

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  • Alison MacMillan

    Divisional Director

    Mobile: 07423 400 829 | E-mail: alison.macmillan@idexconsulting.com​Ali has been working in Financial Services recruitment in Scotland since 2002 and is a Fellow of the Recruitm...

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  • Emma Murray

    Client Delivery Manager

    ​Mobile: 07791 280 859 | E-mail: emma.murray@idexconsulting.com​A spring of energy in the office, Emma is a dedicated and passionate Financial Services specialist. Partnering w...

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  • Jack Johnson

    Business Director & Regional Manager

    ​Mobile: 07795 571 723 | E-mail: jack.johnson@idexconsulting.com​Jack has nine years’ experience recruiting Risk, Actuarial and Compliance professionals in the UK. He has worked...

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  • Ashlea Walton

    Client Director

    Mobile: 07805 843 149 | E-mail: ashlea.walton@idexconsulting.comAshlea is an experienced Employee Benefits recruiter with 10+ years experience recruiting nationally. She specia...

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  • Alex Merrick

    Client Director

    ​Mobile: 07776 670 384 | Email: alex.merrick@idexconsulting.comPrior to moving into Recruitment, Alex was a Financial Adviser for 16 years. He started advising within the Bancas...

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  • Graeme Hyland

    Business Manager

    Mobile: 07896 933 622 | E-mail: graeme.hyland@idexconsulting.com​Graeme is one of the longest serving members at IDEX Consulting and is fully responsible for recruitment, talent...

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  • James Salmon

    Mergers and Acquisitions Client Director

    Mobile: 07947 748 173 | E-mail: james.salmon@idexconsulting.comJames leads our Financial Services Mergers and Acquisitions proposition; supporting Wealth Management businesses t...

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  • Graeme Winn

    Managing Consultant

    ​Mobile: 07552 208 547 | E-mail: graeme.winn@idexconsulting.comFollowing an initial career in Accountancy, Graeme has worked within the recruitment industry for nearly 10 years....

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  • David Elders

    Managing Consultant

    ​Mobile: 07407 626 734 | E-mail: david.elders@idexconsulting.comDave has over 16 years’ experience recruiting in the Financial Services sector, initially within Retail Banking,...

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  • Lynn Wilson

    Senior Consultant

    Mobile: 07918 211 987| E-mail: lynn.wilson@idexconsulting.comLynn has been working in Financial Services recruitment in Scotland since 1996. She typically recruits for are Para...

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  • Samantha Durbridge

    Senior Consultant

    ​Mobile: 07386 660 100 | E-mail: samantha.durbridge@idexconsulting.comSamantha has been working in recruitment for approximately two years. Her experience mostly consists of sen...

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  • Charlotte Flaherty

    Senior Consultant

    Mobile: 07441 349 915 | E-mail: charlotte.flaherty@idexconsulting.com​Charlotte is an experienced consultant specialising in the wealth and financial services sector, she has de...

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Check out other experts:
  • Alison MacMillan
  • Emma Murray
  • Jack Johnson
  • Ashlea Walton
  • Alex Merrick
  • Graeme Hyland
  • James Salmon
  • Graeme Winn
  • David Elders
  • Lynn Wilson
  • Samantha Durbridge
  • Charlotte Flaherty