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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

Independent Financial Adviser

Penrith
£50000 - £70000 per annum + Bonus

My client is currently looking for an experienced Independent Financial Adviser to join their team in Penrith. Our client is a highly-reputable advisory and professional services business with long standing presence in the north. With a history of delivering a truly tailored and scalable service to its clients, this is a great opportunity to join this firm. You will take over a high quality book of existing clients across the region, but with a focus on growing new client advice through internally networking with a supportive and well-established accountancy practice in the region to cross-link business owners and entrepreneurs to holistic and independent financial advice. You will be supported with an established and growing Business Development, Marketing and Operations function, leaving you to leverage your expertise in a client-facing capacity, advising clients across the region. The successful candidate can expect to join a prestigious employer and brand in the region, be equipped with a proposition equipped to support clients in achieving their objectives, and receive a strong starting salary and bonus package. What will equip you for success in this role: A willingness to cross-network with internal and external connections, with an ability to start conversations, unearth problems and provide simple solutions. A history of delivering quality, fee based advice to individuals across Pensions, Investments, Protection and complex case work. Diploma level 4 qualified as a minimum but with an interest of being supported to achieving Chartered status Track record in retaining and growing portfolios of business within Financial Services Able and willing to travel regionally to accommodate client facing appointments Why you should apply: This is an opportunity to join a well-established Wealth Management practice with a supportive Professional Services practice that has significant lead opportunity Growth focused brand with masses of internal and external client opportunities, through brand promotion, marketing and decades of presence across the region Competitive starting salary, bonus structure and package Flexible working, with structured career and professional development initiatives. This is an exciting opportunity to join a fast-growing, advice-led and fully independent practice, with true prestige in the market. For more information please contact Graeme Hyland on 07896 933622 or email graeme.hyland@idexconsulting.com 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

Independent Financial Adviser

Carlisle
£50000 - £70000 per annum + Bonus

My client is currently looking for an experienced Independent Financial Adviser to join their team in Carlisle. Our client is a highly-reputable advisory and professional services business with long standing presence in the north. With a history of delivering a truly tailored and scalable service to its clients, this is a great opportunity to join this firm. You will take over a high quality book of existing clients across the region, but with a focus on growing new client advice through internally networking with a supportive and well-established accountancy practice in the region to cross-link business owners and entrepreneurs to holistic and independent financial advice. You will be supported with an established and growing Business Development, Marketing and Operations function, leaving you to leverage your expertise in a client-facing capacity, advising clients across the region. The successful candidate can expect to join a prestigious employer and brand in the region, be equipped with a proposition equipped to support clients in achieving their objectives, and receive a strong starting salary and bonus package. What will equip you for success in this role: A willingness to cross-network with internal and external connections, with an ability to start conversations, unearth problems and provide simple solutions. A history of delivering quality, fee based advice to individuals across Pensions, Investments, Protection and complex case work. Diploma level 4 qualified as a minimum but with an interest of being supported to achieving Chartered status Track record in retaining and growing portfolios of business within Financial Services Able and willing to travel regionally to accommodate client facing appointments Why you should apply: This is an opportunity to join a well-established Wealth Management practice with a supportive Professional Services practice that has significant lead opportunity Growth focused brand with masses of internal and external client opportunities, through brand promotion, marketing and decades of presence across the region Competitive starting salary, bonus structure and package Flexible working, with structured career and professional development initiatives. This is an exciting opportunity to join a fast-growing, advice-led and fully independent practice, with true prestige in the market. For more information please contact Graeme Hyland on 07896 933622 or email graeme.hyland@idexconsulting.com 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

IFA

Taunton
£70000 - £80000 per annum + Bonus

Are you tired of outdated processes and technology, want to maximise your time spent with clients and not navigating outdated platforms? My client is redefining how financial advice is delivered - using a next-generation, end-to-end platform powered by AI, open banking integration, and real-time property data feeds. Our tech-enabled model drastically improves Adviser efficiency by automating time-consuming tasks - including AI-generated full suitability reports - so you can focus on what matters: building trusted relationships with clients. We're looking for a self-motivated Financial Adviser with a passion for modern advice delivery, to join our growing team in the Taunton/Somerset area. You'll benefit from inheriting a book of medical professionals and enjoy the autonomy of a hybrid working environment. What we're looking for: Level 4 qualified Financial Adviser (minimum) Experience serving high-net-worth or mass-affluent clients A strong communicator with a client-first, tech-forward mindset Ideally, experience or network in the medical sector Highly self-driven and comfortable in a hybrid working model What you'll do: Inherit an established client book focused on medical professionals Grow and manage your client base, using our cutting-edge tech stack Leverage AI-driven suitability reports and integrated open banking feeds Provide holistic, compliant financial advice across pensions, investments, protection and more Build and maintain long-term relationships with individuals, families and high-net-worth clients Collaborate with our private banking and family office partners to expand your network and offering What we offer: Inherited book of warm, loyal clients in the Taunton/Somerset area Competitive base, performance bonus. Progression opportunity to Senior Partner A fully integrated AI platform that significantly reduces admin time Access to professional services partnerships and HNW client channels Flexible hybrid work model with regional support Growth-focused environment with a forward-thinking leadership team Ready to modernise your advice career? Apply now to join a fast-growing, tech-led business with a supportive, entrepreneurial culture - and start doing more of what you love: helping clients succeed. 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

Paraplanner

Bromsgrove
£40000 - £45000 per annum + benefits package

I'm currently partnering with one of the UK's leading independent financial advisory and wealth management firms who require a Paraplanner to join their team in Bromsgrove. This is a newly created role and part of the growth strategy which has seen additional headcount, revenue and FUM come into the business this year. The business local to Bromsgrove 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. Coupled with a strong reputation, this sets it apart from their competition on the market. Role responsibilities 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. Applicant requirements include; Diploma in Financial Planning (or strong progression towards) Experience in a regulated financial advice environment, demonstrating quality communication A high standard of written and numerical skills An ability to demonstrate report-writing skills Benefits of joining this business; Hybrid / flexible working Get paid for further studies Examinations, training and development funded by employer Full employee benefits package including health and flexi-bens Competitive bonus Great flexible holiday allowance 25+ that rises with service Social and inclusive culture 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

HR Assistant

Blackpool
£28000 - £30000 per annum

My client is currently looking for a HR Assistant to join their team in Blackpool. The successful candidate will be the first point of contact to the business regarding HR administration related queries, managing and completing daily HR work and administration. You will support ad-hoc HR projects as required and provide assistance to the Head of HR and Senior HR Business Partner where required. Role responsibilities Ensure the HR systems are maintained with current information Managing the HR mailbox ensuring that queries are dealt with Seek ways to improve the service HR provides to the business Complete general HR administration for joiners and leavers including onboarding and offboarding, payroll instruction, performance management and holiday Manage the length of service awards Help the HR team to deliver training initiatives by organising all logistics including booking meeting rooms, printing training packs, liaising with vendors for training materials etc. Manage all aspects of the onboarding process for all new joiners Support the HR team with managing the recruitment process across the company Manage work experience and internship requests in line with business needs Manage the relationship with the pre-employment screening provider Work with the HR team to ensure that all HR processes are compliant with GDPR legislation Ensure all training sessions run smoothly and on time The company offers an exceptional benefits package that includes ongoing training and support. For more information please contact Graeme Hyland on 07896 933622 or email graeme.hyland@idexconsulting.com 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

Financial Services Administrator

Bracknell
£25000 - £30000 per annum

We are working with a large wealth management company looking to take on a Financial Services Administrator to support one or more Financial Planners! This role is suitable for someone wanting to kick start their financial services career and wishes to move into paraplanning or financial planning! Or someone who wants to remain as a career Administrator! Responsibilities will include but will not be limited to: Proactively develop and maintain effective relationships with clients, colleagues and 3rd party firms Point of contact for all client servicing and new business queries; to research and resolve client issues timely and efficiently Preparation for client meetings and attend as and when required Provide the business support necessary in meeting strategy and business objectives, as required Process all business in accordance with required processes & proactive pipeline management Prepare and print illustrations, key features and applications as required Maintain core systems ensuring that all tasks are carried out and completed in line with company policy and procedures Request policy information from third party policy providers Coordinate and produce client valuations as part of the advice delivery process Maintain client records in accordance with internal Compliance requirements Prioritise workload to ensure all activities are timely, compliant and conducted in a manner that will meet the agreed performance standards and deliver outstanding service to clients Maintain an awareness of, and act in accordance with, all compliance and legislative obligations Cover front of house responsibilities as and when required Skills and qualifications: Have either worked within an administration role in financial services Have an understanding of GIA, ISA, SIPP's A proven strong ethic of client service Proficient IT skills in core Microsoft Office systems Organisation and prioritisation skills being able to work independently and within a team Professional telephone manner along with excellent written communication skills; to have an eye for detail Initiative - all ideas and input to the team are welcome. Use judgement and reasoning in order to propose solutions to problems This is a fantastic opportunity for someone wanting to join a firm that will support and progress your career. Full financial support to achieve qualifications to take you to that next stepping stone! This is a hybrid working role which will see you in the office x3 days a week and x2 from home. Laptop and phone will be provided. There are individuals within the financial planning and paraplanning team that started their financial services career within this exact role! For more information on this firm and position please click apply! 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

Financial Advisor

Dorset
Up to £90000 per annum + bonus

I'm thrilled to be partnering with a boutique independent financial advisory firm that is seeking an experienced Financial Planner based in Dorset. This firm provides a comprehensive range of financial planning services, including wealth management, retirement planning, estate and inheritance planning, tax-efficient strategies and business financial planning. As a well-established firm, their ongoing success has resulted in the creation of a brand-new IFA position. This is a remote position, giving Advisors autonomy and free-reign to manage their desks accordingly. Candidates however do need to be commutable distance from Dorset in order to manage their clients effectively. The ideal candidate will: Hold CAS - or be working towards Level 4 diploma qualified Experience using Microsoft Word and Excel and databases Desire to be a successful Financial Planner The successful candidate will need to be local to Dorset and be level 4 diploma qualified. If this role sounds like it could be for you and you would like some more information please send your CV to Samantha.durbridge@idexconsulting.com 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

Financial Adviser

England
£50000 - £55000 per annum

An exciting opportunity has arisen for a Financial Advisor to join an award-winning national firm in a home-based capacity. This role offers the perfect blend of flexibility, career growth, and excellent earning potential. The company works with employers across the UK to help employees make informed financial decisions, particularly regarding pensions and retirement planning. Location: Home-based (Ideally local to Bristol for occasional meetings) Package: Base Salary: £65,000 (flexible for the right candidate) Uncapped Commission & Competitive Bonus Structure Supportive and well-established firm with a strong reputation Key Requirements: Minimum 2 years' experience in financial advice CAS status (Competent Adviser Status) is essential Proven experience in pension advice Perks: 25 days + bank holidays + Option to apply for 3 additional days Discretionary bonus scheme Private medical insurance 6% employer pension contribution DIS This is a fantastic opportunity to join a respected firm that truly values its advisors, offering long-term career growth and an exceptional rewards package. If this role sounds like it could be for you, and you would like some more information please send your CV to Samantha.durbridge@idexconsulting.com 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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Fs Nl Web Thumbnail Newsletter
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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Financial Services newsletter Friday 4th April 2025

​Financial Services NewsEvelyn Partners reported a 12% rise in profits for 2024, with adjusted EBITDA reaching £174.3m, despite a 68% drop in net inflows to £1.3bn. Gross inflows rose to £8bn, while assets under management increased 7% to £63bn, boosted by £2.6bn in market gains. Operating income grew 6.4% to £497.4m. CEO Paul Geddes stated that, despite geopolitical uncertainty, 2024 was a strong year for the wealth manager. (Financial Planning Today, 27/3/2025, 'Profits rise for Evelyn despite 68% drop in net inflows')Schroders reported a five-fold increase in profits from its wealth management joint ventures in 2024, reaching £21.3m in profit after tax, with Schroders’ share at £10.5m. This is up from £4.1m in 2023. The firm’s wealth management associates saw net inflows of £0.4bn, bringing assets to £15.7bn by the end of 2024. (Financial Planning Today, 6/3/2025, 'Profits rise five-fold for Schroders' wealth businesses')Wealthtime has rebranded as The Quanta Group following its acquisition of Craven Street Wealth. Backed by Anacap, it will maintain operational independence across its key units: Craven Street Wealth, Wealthtime, and Copia Capital. The group has also secured a 10-year technology partnership with Wipro and GBST. (Financial Planning Today, 1/4/2025, 'Wealthtime rebrands as Quanta Group')Brooks Macdonald has completed its move from AIM to the London Stock Exchange main market, aiming to enhance its profile and attract more investors. Shares were admitted on 28 March, with an issued share capital of 16,382,539 ordinary shares. As of 31 March, its share price was 1,520p, valuing the company at £249m. (Financial Planning Today, 31/3/2025, 'Brooks Macdonald admitted to LSE main market')Demand for IHT planning has surged since the October Budget, with 94% of Financial Planners reporting increased enquiries, according to a Downing survey. Advisers expect this trend to continue, with 91% predicting further growth over the next year. Currently, 61% say IHT advice makes up at least a fifth of their business, a figure expected to rise to 85% within three years. From April 2027, unused pensions will be subject to IHT, with the OBR forecasting nearly 10% of estates paying IHT by 2030. (Financial Planning Today, 27/3/2025, '90% of Planners report jump in IHT advice demand')VouchedFor has introduced a feature allowing users to search for financial advisers by gender, responding to data that shows many clients prefer female advisers. Women make up just 16% of financial advisers nationally, while 26% of those on VouchedFor are female. Hattie Spurrell, Director of Adviser Success, noted that female clients tend to rate female advisers higher than male ones. (Financial Planning Today, 26/3/2025, 'VouchedFor adds adviser gender search feature')The FCA has launched a five-year strategy aimed at building trust in financial services, supporting growth, and improving lives. CEO Nikhil Rathi stated the strategy will create a fair and thriving market for consumers and the economy. Key priorities include becoming a smarter regulator, supporting economic growth through investment and innovation, helping consumers navigate financial decisions, and fighting financial crime by disrupting criminals and strengthening firm defenses. (Financial Planning Today, 25/3/2025, 'FCA launches new 5-year strategy to improve trust')​Phoenix is developing a retirement advice service through its Standard Life brand, though the launch date is not yet confirmed. The service will focus on supporting customers with financial decisions during the transition to and in-retirement stages, as outlined in Phoenix’s recent annual results. (Financial Planning Today, 24/3/2025, 'Phoenix plans to launch pension advice service')Quilter Cheviot has launched a new client app and portal, replacing legacy versions with a modern interface and improved usability. The new tools feature biometric login for added security and a personalised feed of news and events. A version for financial advisers is also planned, offering streamlined access to client investment details. (Financial Planning Today, 21/3/2025, 'Quilter Cheviot adds new client app')Fintel, owner of SimplyBiz and Defaqto, reported a 6.3% increase in statutory profits to £15.3m for 2024, with core revenue rising 21.9% to £68.9m. Despite this, pre-tax profits fell from £9.6m in 2023 to £7.7m. The company expanded by acquiring four businesses in 2024, including RSMR, for £16.6m, which contributed £7.5m in core revenues. (Financial Planning Today, 18/3/2025, 'Fintel statutory profits climb 6.3% to £15.3m')HSQ has provided a £4.8m debt facility to support its struggling Financial Planning business, Kingswood, amid concerns over its £91m debt. HSQ, now controlling nearly 90% of Kingswood, also acquired shares from two departing directors. The loan carries a 12% interest rate and is due by October 2030 or upon exit. (Financial Planning Today, 17/3/2025, 'Private equity owner pumps in £5m at troubled Kingswood')A survey by Charles Russell Speechlys found 23% of Gen Z would seek financial advice, compared to just 6% of Millennials. Gen Z was also more likely to discuss inheritance, with 81% having done so. Many plan to use inheritance for savings, property, or a house deposit. (Financial Planning Today, 14/3/2025, '1 in 4 Gen Z adults turning to advice')Abrdn has officially rebranded to Aberdeen Group plc, adopting an all-lowercase name. CEO Jason Windsor confirmed that subsidiary names and the LSE ticker (ABDN) will remain unchanged, with "Aberdeen" now serving as the main identity for its investment and adviser businesses. (Financial Planning Today, 13/3/2025, 'Vowels officially return to aberdeen')Close Brothers Asset Management has rebranded as TrinityBridge after being sold to Oaktree Capital Management for £200m earlier this year. The new wealth manager plans to invest heavily in technology and chose the name TrinityBridge to reflect enduring relationships between clients, investment managers, and advisers. (Financial Planning Today, 7/3/2025, 'CBAM renamed TrinityBridge as it becomes a standalone')Financial Planning firm Shackleton, formerly Skerritts Group, has implemented VouchedFor’s Elevation system, which provides advisers with data to measure and evidence outcomes via dashboards. The system also offers industry benchmarks to help meet the FCA’s Consumer Duty and identifies potential revenue opportunities, claiming an average of £2,000 per client through referrals and cross-selling. Elevation gathers feedback from over 10,000 UK advisers. (Financial Planning Today, 7/3/2025, 'Shackleton invests in client feedback data system')A report from Handelsbanken Wealth & Asset Management reveals women in the UK hold an average of £177,000 in assets, compared to £218,000 for men. Men are also more likely to manage long-term financial products. The report attributes the gap to a lack of financial education, with 64% of women having little investment knowledge, compared to 43% of men. (Financial Planning Today, 6/3/2025, 'No sign of gender wealth gap closing – report')Phoenix Group has appointed Wipro as a strategic partner under a Business Process Outsourcing (BPO) agreement. Wipro will manage ALPHA, the platform used by ReAssure, and related life and pension administration services. The move aims to accelerate the ReAssure Transformation programme, with Wipro investing in the platform to enhance customer experience. (Tom Browne, 26/3/2025, Money Marketing, 'Phoenix Group appoints Wipro as partner for ReAssure platform')7IM reported record growth in Q4 2024, with gross inflows surpassing £1bn for the first time, up 104% year-on-year. This follows significant investment in its proprietary technology as part of a multi-year programme to strengthen its position in wealth management. Net flows also saw a 114% increase year-on-year, rising to £426.5m, the third highest ever reported by the firm. (Momodou Musa Touray, 21/3/2025, Money Marketing, '7IM reports platform assets gross inflows exceed £1bn')M&G aims to boost its operating profit by 5% annually over the next three years and generate £2.7bn in operating capital by 2027. It also raised its cost savings target to £230m by 2025. While operating profit rose 5% to £837m, the company reported a loss after tax of £347m, compared to a £309m profit last year. (Lois Vallely, 19/3/2025, Money Marketing, 'M&G vows to boost operating profits by 5% per year')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')2025 Employee Benefit talent trends - The employee benefits sector faces challenges like talent shortages and salary misalignment. In-demand roles include flexible benefits and healthcare consultants. To attract talent, employers must focus on strengthening their employer branding, and promoting their unique differentiators. Employees should enhance their personal brand, network, and clearly communicate their value and expertise to advance in their careers. (IDEX Consulting news, '2025 Employee Benefit talent trends')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 professionals 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 AcquisitionsEvelyn Partners has sold its professional services arm to Apax-advised funds, creating two standalone businesses: Evelyn Partners (wealth management) and S&W (professional services). S&W revives the Smith & Williamson name from the 2020 Tilney merger. Andrew Wilkes becomes S&W’s CEO, with Andrew Baddeley as CFO, while Scott Kirk remains interim CFO at Evelyn Partners. Both firms will maintain a commercial relationship. (Financial Planning Today, 31/3/2025, 'Evelyn focuses on wealth after selling S&W')​The £200m sale of Close Brothers Asset Management (CBAM) to Oaktree Capital Management has been completed, with Oaktree planning to create an independent wealth manager under a new name. The deal, first announced last September, has received regulatory approval. Oaktree aims to support CBAM as an agile, standalone business, though it will continue trading as CBAM for now, with a rebrand to follow. (Financial Planning Today, 3/3/2025, 'Oaktree to turn £200m CBAM into 'leading' wealth manager')Titan Wealth has acquired Workplace Advice Group, adding £200m in workplace pensions to its £36bn AUM. The deal strengthens Titan Wealth Planning’s corporate benefits offering as the firm expands in this market. (Financial Planning Today, 2/4/2025, 'Titan Wealth expands workplace business with acquisition')Quanta Group, backed by Anacap, is acquiring Craven Street Wealth to expand beyond platforms and DFM. The deal, part of Quanta’s long-term strategy, will support Craven Street’s growth through acquisitions and organic expansion. (Financial Planning Today, 28/3/2025, 'Wealthtime owner buys Craven Street Wealth')Investment Manager Marlborough has acquired a 20% stake in Chartered Financial Planning firm First Wealth, providing funds for growth while maintaining its independent B Corp status. The investment will support tech upgrades, client events, lower-cost solutions, debt repayment, and team expansion, with acquisitions also planned. (Financial Planning Today, 27/3/2025, 'Marlborough takes 20% stake in London Chartered Planner')Financial Planning firm Shackleton has acquired PK Financial Planning, adding £200m in assets and expanding its corporate and HNW client base. The deal, Shackleton’s 17th since 2021, includes PK Employee Benefits and PK Wealth, with the full team joining Shackleton. (Financial Planning Today, 27/3/2025, 'Shackleton acquires £200m AUM London Planner')AJ Bell is selling its Platinum SIPP and SSAS business to InvestAcc for £25m, adding £3.2bn AUA and 3,600 clients. The deal, expected to complete in H2 2025, includes £18.5m upfront and £6.5m deferred. (Financial Planning Today, 27/3/2025, 'AJ Bell sells non-platform HNW SIPP business')​HSQ has confirmed its offer to buy the remaining 10% of Kingswood for 7p per share, valuing the firm at £48m. Facing £91m in debt, Kingswood needs fresh capital to stay afloat. HSQ aims to complete the deal by 15 April, seeing the merger as an opportunity to provide long-term investment and drive growth in Kingswood’s UK and Ireland operations. (Financial Planning Today, 25/3/2025, 'Private equity firm to complete takeover of £48m Kingswood')Howden has acquired pensions and SIPP consultancy Barnett Waddingham to strengthen its global employee benefits business. The deal, which expands Howden’s workforce to over 10,000 across 200 locations, aims to enhance its pension, investment, and risk services, creating a new global force in employee benefits (Financial Planning Today, 25/3/2025, 'Benefits firm Howden acquires Barnett Waddingham')Quilter Financial Planning has added Belfast-based PHW Wealth Partners as an appointed representative, strengthening its Northern Ireland presence. Founded by industry veterans with 60 years’ experience, PHW provides tailored advice to HNW individuals, business owners, and families. (Financial Planning Today, 26/3/2025, 'Quilter adds Belfast firm to boost NI presence')Finli Group has acquired Somerset-based Schaefer Financial Management and Birmingham-based MMR Financial Planning, marking its 41st acquisition. The deals, completed for undisclosed sums, expand Finli’s reach to over 100 Financial Planners serving 20,000 clients. Finli plans three more acquisitions across Kent, Cardiff, Merseyside, and Somerset, further strengthening its £5bn assets under advice. (Financial Planning Today, 24/3/2025, 'Finli acquires Somerset and Birmingham Planning firms')Lumin Wealth has acquired the mortgages arm of RBS Associates, expanding its services after its June 2023 tie-up with mortgage adviser Davidson Deem. The deal brings RBS Associates’ team, including Mark Spurling, to Lumin Wealth, enhancing its offerings in investments, pensions, inheritance, tax planning, and financial protection. (Financial Planning Today, 21/3/2025, 'Chartered Planner acquires mortgage business')Ludlow Trust has acquired HSBC Bank’s trust business, continuing its expansion in the UK trust market. The deal adds HSBC staff to Ludlow Trust and rebrands the business to Ludlow Trust Company (Southampton) Ltd, with operations moving to new offices in Whiteley. Ludlow has previously acquired trust services from several UK banks, reinforcing its growth strategy. (Financial Planning Today, 11/3/2025, 'Ludlow Trust acquires HSBC's trust company')Clifton Wealth Partnership has acquired seven financial planning firms across England and Wales, adding £500m in assets and 25 team members. The firms, Capel Court Ltd, Financial Solutions Wales Ltd, Davies Craddock Ltd, Tailormade Financial Services Ltd, Absolute Financial Services LLP, London Private Wealth Ltd and Clifton Wealth Partnership Portishead Ltd, will remain under their original leadership for a smooth transition. Clifton’s growth strategy includes integrating these firms with tailored plans and maintaining client service. (Financial Planning Today, 10/3/2025, 'Clifton Wealth acquires 7 Financial Planning firms')Accenture has acquired Altus Consulting from Equisoft. Altus, specialising in technology solutions for pensions and asset management, will join Accenture’s insurance practice. Equisoft retains Altus's software business. The acquisition strengthens Accenture’s expertise in distribution, risk, regulation, and technology for financial services. (Financial Planning Today, 6/3/2025, 'Accenture acquires Altus consultancy arm')Wren Sterling has added £300m in assets under management with three acquisitions: JLS Associates in Scotland, Investment Choices Wealth Management in Kent, and Broadway Financial Planning in the Cotswolds. The acquisitions bring 520 new clients to the firm, increasing total assets to £9bn. Wren Sterling aims to expand further with additional acquisitions planned for 2025. (Financial Planning Today, 5/3/2025, 'Wren Sterling adds £300m AUM with trio of acquisitions')Partners Wealth Management has acquired Johnston Carmichael Wealth, adding £6bn in assets under management. The deal expands the firm’s reach across the UK, with Partners now advising 5,500 private clients. Partners, part of the 7IM group, has grown to a 170-strong team since its 2004 founding. (Financial Planning Today, 4/3/2025, '7IM's Partners Wealth buys Johnston Carmichael Wealth')​Movers​Tom Hegarty has been appointed CEO of Simplybiz, starting 1 April. He joins from M&G Wealth Advice, where he created The Advice Partnership and M&G Wealth Advice Academy. Hegarty has also held roles at Fintel, including Managing Director of the New Model Business Academy, and has led initiatives like the New Talent Alliance and the Trailblazer Group for financial advice apprenticeships. (Financial Planning Today, 27/3/2025, 'Simplybiz hires former M&G Wealth Advice head as new CEO')Paul Stockton, CEO of Rathbones, will retire on 30 September after six years in the role. He plans to assist with the transition until 31 December. Jonathan Sorrell, currently President of Capstone Investment Advisers, will join as CEO-designate on 1 July. Sorrell's past roles include CFO and President at Man Group. (Financial Planning Today, 20/3/2025, 'Rathbones CEO Stockton to retire')Amy Stirling, CFO of Hargreaves Lansdown, will leave after the company’s imminent takeover and delisting from the London Stock Exchange. She has been with HL for three years and will remain through the transition to ensure continuity. Stirling previously served as CFO at Virgin Group. The search for a new CFO is underway. (Financial Planning Today, 19/3/2025, 'Hargreaves CFO to quit after £5.4bn takeover')Evelyn Partners has appointed Gabriela Turner as a Director in its London Financial Planning team. Turner joins from Satis Wealth Management, where she worked as a Senior Financial Planner. With previous experience at Quilter/Old Mutual Private Client Adviser, she will strengthen Evelyn's Financial Planning capability at its Gresham Street office, which houses nearly 70 practitioners. (Financial Planning Today, 18/3/2025, 'Evelyn appoints new Financial Planning director')The Chartered Institute for Securities & Investment (CISI) has appointed Oliver Bourke, Managing Director at Mercury Wealth Management, as the new Chair of its Accredited Financial Planning Firm steering committee. He takes over from Ian Pickford, who stepped down after three years. Bourke is a chartered fellow of the CISI and has been a committee member for 18 months. (Financial Planning Today, 17/3/2025, 'New chair of Accredited Financial Planning Firm committee')Evelyn Partners has appointed three new team members across its Leeds and Newcastle offices: Mark Carter as Director in Leeds with 30 years of experience, Ross Bone as Associate Financial Planner in Newcastle with 10 years' experience, and Gail Carr as Investment Director in Newcastle, bringing 20 years of industry expertise. Carter joins from Aberdeen, Bone from Equilibrium Financial Planning, and Carr from Rathbones. (Financial Planning Today, 10/3/2025, 'Evelyn hires 2 Financial Planners in north of England')Redmayne Bentley has recruited Vittoria Vaccaro from The Private Office to join its expanding Financial Planning team. Based mainly in Leeds with time in Harrogate, Vaccaro's role will focus on business development, building relationships with professionals and private clients. This comes as the firm celebrates its 150th anniversary and aims to grow its Financial Planning services. (Financial Planning Today, 7/3/2025, 'Redmayne Bentley boosts Planning team with new hire')Martyn Beauchamp has been appointed permanent CEO of the Financial Services Compensation Scheme (FSCS) after serving as interim CEO for 16 months. He stepped in following the departure of Caroline Rainbird in June 2023. Beauchamp has extensive experience, having previously held leadership roles at GE Capital, Tesco PLC, and Sainsburys PLC. (Financial Planning Today, 6/3/2025, 'Beauchamp made permanent CEO of FSCS')Carlton Hood has been appointed CEO of Guardian. Hood, with over 25 years of experience, previously served as Group CEO of Responsible Life, and held roles as Chief Customer Officer at Old Mutual (now Quilter) and CEO of Confused.com. Peter Mann, the interim CEO, will move to Non-Executive Chairman. Hood will lead the executive team and focus on strengthening partnerships to improve customer outcomes. (Tom Browne, 2/4/2025, Money Marketing, 'Carlton Hood appointed CEO of Guardian')Nucleus Financial Platforms has appointed Jenny Woods as Group Financial Controller and Jennifer O’Brien as Commercial Finance Director to support its growth. Woods, with 20 years at Aberdeen, has held senior financial roles, including interim CFO of Americas. O’Brien brings 20 years of experience, having worked at ClearBank, Deloitte, Aegon, NatWest Group, and M&G, where she was CFO of the Wealth division. Both roles are newly created to help Nucleus expand. (Dan Cooper, 28/3/2025, Money Marketing, 'Nucleus strengthens financial leadership team')Clifton Wealth Partnership has appointed Tom Stansbridge as M&A Execution Manager. Stansbridge joins from Ascot Lloyd, where he managed M&A for four years. With 26 years in financial services, he has held senior roles at Quilter, LEBC, and Flying Colours Wealth, working in both advisory and paraplanning. (Lois Vallely, 24/3/2025, Money Marketing, 'Exclusive: Clifton Wealth builds out M&A team with new hire from Ascot Lloyd')Bowmore Wealth Group has appointed former M&G Chief Investment Officer Jack Daniels as Chairman. Daniels, with extensive experience at M&G and Prudential, joins alongside Roger Ganpatsingh, appointed as a Non-Executive Director. Ganpatsingh has a strong background in finance and technology, previously serving as Managing Director at Throgmorton UK and CFO at Daemon, where he helped drive the company’s growth. (Tom Browne, 18/3/2025, Money Marketing, 'Former M&G CIO Jack Daniels joins Bowmore Wealth Group as chairman')​All information provided in this market digest has been gathered from Financial Planning Today, Money Marketing, and IDEX Consulting.

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M&A financial services market analysis: new opportunities for IFAs

​IDEX Consulting spoke to James Salmon, financial services M&A specialist, on the state of the M&A market, opportunities for firms and how leaders can differentiate themselves to secure the best possible deal. James shares his thoughts below. How has the 2025 M&A market fared so far?Deal volumes have continued to rise over the past few years, by around 12% year-on-year, with the highest rise since 2021, and so it’s no surprise that there has been a degree of optimism throughout 2025 so far. A key driver of course, was the need for many buyers and sellers to finalise deals ahead of the changes to business asset disposal relief and capital gains tax hikes, which were more outstated than anticipated.Publicly disclosed deal value rose from £2.1 billion to £9.3 billion in 2024, and we anticipate the sentiment to be much of the same in 2025. There’s increased appetite and interest coming from Private Equity backing in the IFA sector, alongside investment banks and regional practices with an interest in national growth and scale.What can we expect to see for financial advice firms throughout 2025?There will be a number of things which continue to influence and develop the market. Several key things to note are:An increase in buy out options– There will likely be an increased interest in buy out options for lifestyle IFAs, facilitated through share and asset purchase deals. Growing regulatory pressure – With intensified scrutiny driven by the Consumer Duty in recent history, alongside new laws shaping market dynamics, companies will need to adapt to changing regulations and compliance. Private equity (PE) investment – Continued overseas private equity interest in acquiring UK assets, alongside appetite from existing PE holdings for consolidation, continues to show promise. The Office for National Statistics (ONS) reported that foreign investors have acquired around £7.8 billion worth of UK firms in the last quarter of 2024. Global private equity firms have record levels of capital to deploy and are under a lot of pressure to either use the money to invest or return it to their original investors, creating an aggressive PE platform. Technology and AI innovation – Acquisition of businesses with AI capabilities offers a relatively efficient way to onboard advanced technology and expertise. In 2024 there was around 857 enterprise tech deals, with value rising to above $30 billion, driven by PE investment and large transactions.Acquisitions based on a retiring IFA workforce – Research shows that around 50% of independent advice firm owners are planning their succession with a key driver being retirement.Is now a good time to acquire or sell?Activity in the market is strong, and the volume of deals is good. The buy and build strategy, especially on a regional level continues to offer firms an attractive and steady way to diversify and provide clients with a wider range of solutions.For those looking to sell, now is as good a time as any to consider the market for options. Although there is of course a degree of political and economic uncertainty, many businesses are proactively leveraging economies of scale for business growth. We expect to see a continued merging of consolidators to take greater precedence this year, as they reach the end of their PE investment cycles and look at extension and reinvestment options.What are the top challenges businesses will face this year, and how can they prepare themselves?Talent attraction - Attracting and engaging the best talent in the market continues to be a challenge for most businesses, especially for specialised roles that require advisory, data, technology and cybersecurity skills. Having the right capabilities and talent in place is an attractive factor for businesses who are considering a sale. Our recommendation would be for businesses to seriously assess their internal recruitment plan and employer branding strategy to help ensure the topic of talent doesn’t dampen expectations.Rising class 1 employer national insurance – From April 6th employer national insurance will rise by about 1.2%, from 13.8% to 15%, with no immediate reprieve in sight, creating an additional strain for employers. This is particularly true of small and medium sized enterprises which are already operating on tight margins and are likely to have fewer resources to be able to absorb increases and reinvest. This squeeze on profitability is likely to encourage businesses to evaluate how they can offset this additional financial burden. FCA’s change in control process – Those considering disposal will be aware that increased regulation is delaying the Change in Control process. Understandably sellers and buyers are becoming frustrated given many want to complete before the April 6th increase in Business Asset Disposal Relief and Capital Gains Tax. What was once a 60-day standard review can now be paused mid cycle, extending to lengthier timeframes on more complex transactions, creating a great deal of uncertainty. The impact of consumer duty on integration – Consumer Duty has shone a light on acquisitions with firms now taking a more conscious perspective on how they onboard and integrate partners to align with regulation whilst maximising ROI. To comply with regulation, pricing structures need to be aligned to drive consistency of service, ensure fair value and at the same time ensure profitability for investors and shareholders. Those who are prepared well for Consumer Duty, will have a market proposition which makes for a smoother transition and integration process.What opportunities are there for buyers?There’s a broad and deep mix of opportunities in the market for buyers, based on a number of factors:Retiring advisors and succession planning The average age of a financial advisor is 58 and around 50% of financial advisors are expected to retire in the next ten years, but only a third have succession plans in place. Market consolidationWe’re seeing more scale driven consolidation, as smaller firms continue to struggle with increasing compliance costs, technology demands, and talent needs.M&A transactions in the wealth management sector reached record levels in 2023-2024 with the average deal size growing from $1.8B AUM in 2022 to $2.3B AUM in 2024. Growth potential Projected compound annual growth rate for the global wealth management market is estimated to be around 9.2% by 2030, offering a scope of opportunities for IFAs. Specialised acquisitions involving niche areas around ESG and AI, or those which will help attract new client demographics, will help to accelerate growth into new and existing geographies.Technology integrationThis year AI capabilities will reach new heights and the ability to integrate new platforms and systems to increase operational efficiency will be crucial. Research shows that firms with strong digital platforms tend to have a higher productivity rate per advisor, of at least 30-40%. 78% of advisors cite technology integration as a major challenge in post-acquisition integration, so being able to get ahead of this will considerably aid competitive advantage. What opportunities are there for vendors?There’s a wide pool of active vendors in the market looking for quality merger or acquisition opportunities, and we see a ‘sellers’ market forming across the sector. This is further evidenced by the increasing demand from consolidators, private equity firms and larger wealth management organisations for increased deal flow.Due to increased regulatory scrutiny, buyers often have a more defined and Consumer Duty compliant proposition than ever before, offering vendors more security from a client continuity perspective.These greater controls coupled with greater scale, capital, and operational efficiency, creates an attractive proposition for both the vendor, their team and clients.For those looking to sell, how can they differentiate themselves from other businesses and make themselves appealing to buyers?There are a number of critical factors when considering your plans to merge or exit:Plan ahead –Those who have a deep understanding of the inner dynamics of their business, are likely to be prepared to address challenges that come with an acquisition. Anything a vendor can do to minimise disruption and risk during integration will put them at a huge advantage in ensuring both continuity and the achievement of earn-out. Acquisitions take time, and getting on the front foot enables business owners to mitigate against perceived challenges and achieve transaction success.Conduct a thorough review and analysis – A SWOT analysis can be a simple but effective way to assess your opportunities, strengths and potential threats both for your business and in the marketplace. Understanding this will help you minimise risk and alleviate issues before they become problematic.Seek advice from a trusted broker – Engage with a well-connected and trusted broker who understands the market. M&A experts have strong connections in the market and can help match you to the right partner. A broker can also help promote and pitch your proposition effectively in the marketplace, to help attract suitable buyers who align with your values, whilst addressing challenges which may later arise through a transaction.Prepare information ahead of time – Vendors often underestimate the depth of information required for the due diligence process. Always try and put yourself in the shoes of the buyer – what would you want to see and analyse to bring you the confidence that this is the right deal?Explore your trade-offs – What are you willing to compromise on to achieve the best deal? What's important to you? What’s a non-negotiable for your clients, your team and long-term goals? This will help you identify which acquirer presents the best and most secure opportunity, that aligns with your vision. Why should a buyer or seller partner with IDEX?IDEX Consulting are different to other brokers, we are an independent advisor uniquely positioned to provide impartial consultancy to those exploring their buy-and-sell options. We partner closely with firms to ensure we truly understand their values and long-term objectives. This helps us to dissect the market and filter out acquirers whose values and motives don’t align with that of a vendors.For us it’s not just about a sale or acquisition, it’s about enabling and supporting the lifestyle, financial and personal goals of everyone involved to ensure the best outcome is achieved. Due to our talent management and marketing expertise, we also help businesses with future growth post integration through innovative value propositioning and talent insights.Our team of M&A consultants have over 150 combined years of experience, with an established network of over 40,000 UK and international businesses, having introduced £13 billion AUA of opportunity to firms across the financial services sector. We also work with a range of legal, financial, tax and regulatory specialists to equip our clients with invaluable knowledge and support, who all work to support each stage of a transaction.For a confidential chat on the M&A market or if you’re looking to explore your options, contact our financial services M&A consultant, James Salmon.

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Financial Services newsletter Friday 28th February 2025

​Financial Services NewsSchroders has secured regulatory approval for an infrastructure-focused LTAF, feeding into its Energy Transition fund, which invests in 160 global assets like wind farms and battery storage. Aimed at UK wealth managers, the Oeic-structured fund has a 1.27% annual fee with no performance fee. (John Schaffer, 25/2/2025, Citywire Wealth Manager, 'Schroders to launch infrastructure LTAF for wealth market')Evelyn Partners reported record 2024 AUM of £63bn and £2.6bn in Q4 gross inflows, up 36.8% from Q3 and 23.8% year-on-year. Outflows rose as clients reacted to the Autumn Budget, interest rates, and borrowing costs. (Financial Planning Today, 12/2/2025, 'Evelyn Partners AUM hits record £63bn')Aviva’s wealth arm saw net flows rise 23% to £10.3bn in 2024, with assets under management growing 17% to £198bn. Retirement sales surged 33% to £9.4bn, driven by record bulk purchase annuity (BPA) sales of £7.8bn. (Financial Planning Today, 27/2/2025, 'Aviva net flows climb 23% as AUM rises 17%')In further news...In 2024, Aviva generated over 7,000 referrals into Succession Wealth, creating £2.5bn in opportunities for its planners. Since acquiring Succession for £385m in 2022, Aviva has seen an 84% increase in the value of assets secured through referrals. The acquisition aimed to strengthen Aviva's position in the UK wealth market. (Lois Vallely, 27/2/2025, Money Marketing, 'Aviva referrals create £2.5bn opportunity for Succession')Brooks Macdonald saw £300m in net outflows in H1, with £1.1bn in new money offset by £1.4bn in withdrawals, mainly from its bespoke service before October’s Budget. In contrast, its model portfolio service (MPS) saw £288m in net inflows, bringing total MPS assets to £5.8bn, up 7% year-on-year. (Charles Walmsley, 27/2025, Citywire Wealth Manager, 'Brooks Macdonald’s MPS arm offsets bespoke outflows')St James’s Place (SJP) is exploring a passive investing proposition for the first time while also integrating AI tools and engaging in the advice guidance boundary review. Currently focused on active funds, SJP has gradually allocated more to passives in its Polaris range. Full-year results show a post-tax cash profit of nearly £400m and over one million clients, though shares fell 5% amid forecasts of lower profitability in 2025-26 due to a £160m fee model overhaul. (Victoria Bell, 27/2/2025, Citywire Wealth Manager, 'SJP explores passive proposition in strategy shift')In further news...St. James’s Place has launched a £92.6m share buy-back to reduce issued share capital, following a return to profitability, with shares recovering 24% this year after hitting a low of 808p in January. (Financial Planning Today, 28/2/2025, 'St James's Place launches £93m share buy-back')Rathbones’ 2024 pre-tax profits surged 73% to £99.6m, largely driven by its merger with Investec Wealth & Investment. Despite some investment manager departures and client transitions, the integration has been positive, with nearly all 55,000 clients set to migrate by June and only 0.3% declining the move. (Sophie Downes, 26/2/2025, Citywire Wealth Manager, 'Rathbones reports 72% jump in profits; headcount to fall further')James Hambro & Partners posted an 18% rise in pre-tax profit to £17.2m for the year to April 2024, with revenue up 11% to £39.1m and AUM reaching £7bn by December. Amid industry consolidation, its 59 partners shared £10.2m in profits, with the top earner receiving £2m. (Sophie Downes, 20/2/2025, Citywire Wealth Manager, 'James Hambro & Partners CEO: Consolidation is an excellent opportunity for us')Aviva Investors has launched its fourth LTAF, the Venture & Growth Capital fund, aimed at DC pension customers. Seeded with £150m from Aviva, the evergreen fund targets UK, European, and North American ventures in fintech, healthtech, science, and sustainability. (Victoria Bell, 4/2/2025, Citywire Wealth Manager, 'Aviva launches venture LTAF for pension customers')Leicester-based Chartered Financial Planning firm Boolers has launched three multi-asset fund of funds, transferring £500m from model portfolios. Managed in-house, the Cautious and Balanced funds have a 1.16% OCF, while the Adventurous fund has a 1.19% OCF. (Financial Planning Today, 25/2/2025, 'Chartered Planner adds 3 multi-asset fund of funds')Aegon’s UK adviser platform saw £1.77bn in net outflows in H2 2024, improving from £1.9bn a year prior, amid high withdrawals and market consolidation. AUA rose 2% to £51.6bn, with Aegon investing £70m annually to enhance the platform, targeting growth by 2028. (Financial Planning Today, 21/2/2025, 'Aegon adviser platform outflows continue')Bath-based Chartered Financial Planner Fidelius has rebranded after securing investment from Sweden’s Söderberg & Partners. Aiming to double AUM by 2029, the firm seeks to become a top 20 IFA and has introduced a new logo, website, and the slogan “Make it happen.” (Financial Planning Today, 18/2/2025, 'Bath Planner Fidelius rebrands amid expansion plans')Quilter Financial Planning has added four new appointed representative firms: LDB Wealth Management, Sound Wealth Planning, Andrassy Parkin Financial Planning, and MacKenzie Financial Management. LDB, led by Lewis and Donna Burt, joins from St James’s Place in Dartford. Sound Wealth Planning, founded by Graeme Oudney in Fife, started last year. Andrassy Parkin, led by Kathryn Andrassy and Kathryn Mumby, is based in Wakefield. MacKenzie, led by Alastair MacKenzie with 35 years of experience, operates in Surrey. These firms join eight others that joined in December. (Financial Planning Today, 6/2/2025, 'Quilter network adds 4 new AR firms')Rathbones expects an additional £7m in annual costs from the April 2025 increase in employers' National Insurance Contributions (NIC). The firm anticipates reducing headcount in 2025 to offset the costs, driven by synergy delivery and continued cost discipline. (Lois Vallely, 26/2/2025, Money Marketing, 'Rathbones expects to cut jobs as NIC changes add £7m per year in costs')2025 Employee Benefits employment outlook - The 2025 employee benefits outlook highlights rising healthcare costs, talent shortages, and dissatisfaction with workloads and development opportunities. Employers are facing challenges in attracting and retaining talent, leading to higher salaries and costs. Competitive compensation and a strong employer brand will be key to recruitment success. Access our article for the latest data driven insights. (IDEX Consulting news, '2025 Employee Benefits employment outlook')Building hybrid inclusive cultures - Inclusive hybrid work cultures require businesses to go beyond diversity metrics by embedding inclusive management practices, ensuring equal access to opportunities, addressing remote work challenges. Read how you can foster open communication, and actively support diverse employees to prevent marginalisation and retain talent. (IDEX Consulting news, 'Building hybrid inclusive cultures')2025 Wealth Management employment outlook - In 2025, the wealth management sector anticipates growth and innovation, with 73% of employers planning to hire new talent; however, 64% foresee challenges in finding suitable candidates due to an ageing workforce, compliance and regulatory pressures, and the need for competitive compensation packages. Learn how you can attract the best talent in the market with our insights piece. (IDEX Consulting news, '2025 Wealth Management employment outlook')How predictive analytics is shaping insurance - Predictive analytics is revolutionising the insurance sector by enhancing risk assessment and underwriting through the analysis of extensive datasets, improving fraud detection by identifying patterns indicative of fraudulent activity, and increasing operational efficiency by automating routine tasks, thereby enabling insurers to offer more personalised services and remain competitive in the market. Learn how it might impact your relationship with insurers and brokers. (IDEX Consulting news, 'How predictive analytics is shaping insurance')Mergers and AcquisitionsEvelyn Partners is refocusing on core wealth management, with PE backer Permira streamlining operations to facilitate a potential £1.5bn sale in 2026, likely to another PE firm or a bank. (Zachariah Sharif, 27/2/2025, Citywire Wealth Manager, 'Will Evelyn’s wealth refocus trigger a sale in 2026?')According to Opinium’s latest IFA Barometer, merger and acquisition activity in the IFA market has accelerated, with 9% of firms acquiring others since December 2024. This marks a rise from 5% in February and 6% in September 2024, highlighting increased consolidation in the sector. Meanwhile, smaller firms are increasingly exiting the market. (Financial Planning Today, 5/2/2025, 'M&A activity in IFA sector gathers pace')Abrdn Diversified Income and Growth (ADIG) is in talks to sell its remaining portfolio as it winds down. A potential buyer is reviewing its private assets, with the board assessing the deal against other strategic options. The trust has already returned £115m to shareholders, with remaining assets maturing between 2025-2033. (Danielle Levy, 26/2/2025, Citywire Wealth Manager, 'Abrdn Diversified in talks to sell private assets portfolio')In further news...Abrdn has put its restricted advice business, formerly 1825, up for sale as CEO Jason Windsor seeks to simplify the group’s structure. The sale process is in the early stages, with an information memorandum sent out for the £4bn asset business with over 60 planners. Corporate finance adviser Dyer Baade is advising, with the internal name for the process being Project Easter. (Victoria Bell, 6/2/2025, Citywire Wealth Manager, 'Abrdn puts advice arm up for sale')Canaccord Genuity Wealth Management (CGWM) has completed the acquisition of Brooks Macdonald’s international arm for up to £50.85m. CGWM will pay £28m upfront for Brooks Macdonald Asset Management International, with the remainder contingent on performance. The sale follows a strategic review after Brooks took an £11.6m hit on the business’s value, allowing it to refocus on core investment management and financial planning. (Dylan Lobo, 24/2/2025, Citywire Wealth Manager, 'Canaccord seals deal for Brooks Macdonald’s international arm')Tavistock has completed its £6m acquisition of asset manager and DFM Alpha Beta Partners (ABP), with total consideration potentially reaching £18m based on performance over the next five years. ABP, with £3bn in AUM, specialises in tailored portfolios for advisers and high-net-worth clients. This follows Tavistock’s sale of its financial advice businesses to Saltus in December. (Financial Planning Today, 20/2/2025, 'Tavistock completes takeover of £3bn AUM DFM')Saltus has acquired Newcastle-based Lowes Financial Management, marking a new chapter in the 54-year-old firm's history. The acquisition aims to enhance service and value while preserving Lowes’ long-standing values. The financial terms of the deal were undisclosed. (Financial Planning Today, 17/2/2025, 'Saltus takes over Newcastle Planner Lowes')Benchmark Capital, part of Schroders, is acquiring Huddersfield-based Robertson Baxter, a directly authorised adviser firm with £200m in assets. The deal, part of a retirement strategy for Founders Greg Robertson and Stephen Baxter, will enhance practice management and compliance support. The financial terms were undisclosed. (Financial Planning Today, 13/2/2025, 'Benchmark acquires £200m AUA Yorkshire adviser')WBR Group has acquired Standard Life’s SSAS book, comprising 270 schemes, 246 properties, and £403m in assets. WBR, which has administered the book for over 20 years, will continue managing clients with a branding change. The acquisition provides clients access to additional investment options and services, with the trustee switching to WBR Trustees Limited. (Financial Planning Today, 13/2/2025, 'WBR acquires Standard Life’s £403m SSAS book')In further news...WBR Group has acquired pension consultancy Censeo Actuaries & Consultants, rebranding it as WBR Actuarial Limited on 1 April. The acquisition, aimed at enhancing SSAS, DBSSAS, and actuarial services, adds three qualified actuaries to WBR’s team of nine professionals. The deal supports WBR’s strategy of growth through acquisition and diversification. (Financial Planning Today, 10/2/2025, 'WBR Group acquires pension consultancy Censeo')Lumin Wealth has acquired Berkshire-based Financial Planner Professional Financial Centre (PFC), with £50m in AUM, marking its ninth acquisition since 2019. The deal supports Lumin's strategy of partnering with like-minded advisers. Lumin Wealth, a financial adviser and discretionary fund manager, has offices across multiple locations, including St Albans, London, and Reading. This follows Lumin’s recent acquisition of B W Financial Consultants Ltd, adding £95m in assets. (Financial Planning Today, 13/2/2025, 'Lumin Wealth acquires Berks Financial Planner firm')Shackleton (formerly Skerritts) has acquired Norfolk-based Harrold Financial Planning, adding £300m in AUM and expanding its presence in the east of England. This marks the 16th deal since Shackleton's £55m investment from Sovereign Capital Partners in March 2021. CEO Paul Feeney said the acquisition aligns with the firm’s goal of becoming Britain’s leading financial adviser. Harrold Financial Planning was founded in 1988 by Paul and Pauline Harrold. (Financial Planning Today, 10/2/2025, 'Shackleton snaps up £300m AUM Norfolk Planner')Nest, the UK’s largest pension scheme with over 13m members, has acquired a 10% stake in IFM Investors’ holding company, subject to shareholder and regulatory approvals. The deal, expected to complete by mid-2025, supports Nest’s goal of increasing private market asset allocations from 17% to 30%. Nest plans to invest £5bn through IFM by 2030, focusing on infrastructure, debt, and private equity, with an emphasis on new UK investment opportunities. (Financial Planning Today, 5/2/2025, 'Nest acquires stake in pension capital investor')Brooks Macdonald has completed its £45m acquisition of LIFT-Financial Group and LIFT-Invest, adding £1.6bn in assets under advice (AUA) and 1,350 clients to its Financial Planning business, which now has £6.4bn in AUA. The deal, first announced in October, also brings around 90 advisers and Paraplanners into the fold. LIFT Founder Michael Holden will assume the new role of CEO of Financial Planning for the combined business. (Financial Planning Today, 3/2/2025, 'Brooks Macdonald completes £45m LIFT deal')​Movers​Schroders has appointed Oliver Gregson, former JP Morgan Private Bank UK Head, as CEO of its wealth management business, succeeding Mary-Anne Daly in June. Daly will remain a Strategic Adviser to Schroders Wealth. Gregson brings over 25 years of experience, having previously held senior roles at JP Morgan, HSBC, Barclays, and UBS Wealth Management. (Sophie Downes, 26/2/2025, 'Schroders hires ex-JP Morgan Private Bank UK head as wealth CEO')In further news...Schroders has appointed Vikram Bhandari as Head and CIO of Schroders Capital Solutions. Bhandari joins from BlackRock, where he spent seven years as Senior Portfolio Manager for its multi-alternatives private markets solutions business, designing and managing products for institutional and wealth clients. At Schroders Capital, with €90.8bn in assets, he will focus on expanding the solutions business, creating portfolios across various asset classes. (John Schaffer, 24/2/2025, Citywire Wealth Manager, 'Schroders poaches from BlackRock for head of private assets solutions')Abrdn has appointed Siobhan Boylan as CFO from Coutts, succeeding Jason Windsor, with Boylan also joining the board; interim CFO Ian Jenkins will become Finance Director of the investment business upon her summer arrival. Boylan brings extensive experience, having previously served as CFO at Brewin Dolphin, LGIM, and various Aviva divisions, and led finance at Coutts for 18 months. (Zachariah Sharif, 28/2/2025, Citywire Wealth Manager, 'Abrdn hires CFO from Coutts')Fintech Dunstan Thomas CEO Ihab El-Saie will retire at the end of March after nearly a decade at the firm and a distinguished fintech career, including leading three successful software firms and driving multiple corporate exits. Julia Fintz, the current COO, and Paul Muir, the CPO, will step in as joint Managing Directors. Fintz brings operational expertise, while Muir has deep product development experience, ensuring strong leadership continuity. (Tom Browne, 27/2/2025, Money Marketing, 'Leadership change at Dunstan Thomas as CEO retires')Brooks Macdonald has hired Neil Cowell, former Head of UK Distribution at Vanguard, to lead its IFA sales efforts. Cowell spent 12 years at Vanguard and previously led distribution for UK retail banks and wealth managers at Standard Life for six years. Brooks has also appointed Debbie Dalzell, previously of GAM and BlackRock, as Chief People Officer. (Natalia Vasnier, 21/1/2025, Citywire Wealth Manager, 'Brooks hires ex-Vanguard veteran in IFA sales push')Barry Smead, Chief Operating Officer of JM Finn’s investment management function, has resigned after nine years with the firm. He is currently on gardening leave after submitting his notice in September 2024. Smead joined in 2016 as a Business Manager and rose to Head Investment Management Operations before becoming COO. Prior to JM Finn, he held COO roles at Capital Position Ventures and Hermes Fund Managers. The reason for his departure remains unclear, and it’s not known if JM Finn plans to appoint a replacement. (Sophie Downes, 21/2/2025, Citywire Wealth Manager, 'Revealed: JM Finn investment operating chief resigns')Michelle Pearce-Burke, Co-Founder and Chief Strategy Officer of Wealthify, has stepped down after 10 years. She co-founded the digital wealth firm in 2014, with Aviva acquiring a majority stake in 2018 and full control in 2020. Pearce-Burke held over 4% of Wealthify’s shares before the sale. Her successor has yet to be announced. (Sophie Downes, 20/2/2025, Citywire Wealth Manager, 'Wealthify co-founder Pearce-Burke exits Aviva-owned robo')In further news...Aviva-backed Wealthify has appointed Jessie Kwok, former Senior Investment Director at Investec, as its new Chief Investment Officer (CIO). She replaces Colleen McHugh, who remains as an Investment Consultant. Kwok brings experience from Fidelity International, Schroders, and HSBC Global Asset Management. (Sophie Downes, 17/2/2025, Citywire Wealth Manager, 'Wealthify appoints Investec W&I investment director as CIO')Hawksmoor Investment Management has restructured its management board after appointing a new CEO and Managing Director. Ben Conway, Dan Ellis, and Richard Pursglove stepped down from the board but remain in senior executive roles. The changes follow the hiring of Andrew Westenberger as CEO of parent company Hurst Point Group and Michael Bishop as Managing Director of Hawksmoor in 2025. Both will serve as Directors on Hawksmoor’s investment board, pending Companies House approval. (Sophie Downes, 18/2/2025, Citywire Wealth Manager, 'Hawksmoor reshuffles board')Fintech Cadro has appointed Sophie Jamieson, former Senior Business Development Associate at Ruffer, as Investment Manager. Jamieson will manage strategies for high-net-worth individuals and institutional clients. She joins after over five years at Ruffer, following recent staff cuts there. (Sophie Downes, 17/2/2025, Citywire Wealth Manager, 'Fintech Cadro hires investment manager from Ruffer')Andy Briggs, CEO of Phoenix Group, has been appointed President of the Association of British Insurers (ABI), succeeding Tim Bailey. Bailey will become CEO of Zurich’s global life protection business. Briggs will serve as ABI President for the next two years. (Momodou Musa Touray, 25/2/2025, Money Marketing, 'Phoenix Group CEO Briggs named new ABI president')Sarah Smart, Chair of The Pensions Regulator (TPR), will step down in July after nearly 10 years on the board. She joined in 2016, initially as Senior Independent Director before becoming Chair. During her tenure, TPR evolved into a "risk-based, outcome-focused" regulator and contributed to the success of auto-enrolment, which now sees 8 in 10 workers saving for retirement. The DWP is now seeking a successor. (Financial Planning Today, 13/2/2025, 'Chair of The Pensions Regulator to step down')Neil Stevens, joint CEO of Fintel, will step down at the end of June, leaving Matt Timmins as sole CEO. Timmins will take over full responsibility after Fintel’s AGM on 20 May. Stevens will not seek re-election at the AGM but will continue in his role until then. (Financial Planning Today, 11/2/2025, 'Fintel joint CEO steps down')FNZ, a platform engine provider that powers several UK investment platforms, has appointed former senior Santander banker James Dunne as its Managing Director, client management and business development. Mr. Dunne was formerly Head of Wealth Management and Insurance at Santander’s UK arm. He also held roles as Global Head of Digital for Santander’s wealth management & insurance division, and Director of SME markets across Europe and the US. (Financial Planning Today, 10/2/2025, 'FNZ recruits managing director from Santander')Abby Thomas has unexpectedly left her role as CEO and Chief Ombudsman at the Financial Ombudsman Service (FOS), amid reports of a disagreement over planned fees to be charged to claims management companies (CMCs). The FOS has declined to comment on the issue or the search for a new permanent CEO. (Financial Planning Today, 7/2/2025, 'FOS CEO Abby Thomas in shock exit')The CII has appointed Adam Harper as Executive Director, strategy, advocacy & professional standards, and Holly Porter as Executive Director, markets & opportunities, starting in March. Harper, from AAT, has expertise in corporate strategy and professional standards, while Porter, formerly with BCS, focused on member development and technology. (Financial Planning Today, 4/2/2025, 'CII appoints two new executive directors')Charles Ferry has left RBC Brewin Dolphin, with Managing Director Hal Catherwood taking over his responsibilities. Ferry joined in 2008 from Gerrard (Barclays Wealth) and held key roles, including leading the investment team, serving as Regional Director for London & the South East, and later becoming Co-Head of private clients. (Dylan Lobo, 13/2/2025, Citywire Wealth Manager, 'Revealed: RBC Brewin Dolphin wealth MD Charlie Ferry exits')LGT Wealth Management has promoted 11 new partners, including eight former Abrdn Capital Managers: David Sullivan, Anthony Emmings, Marco Evans, Craig Joiner, Kevin Bowhay, Charlie Thompson, Richard Harrison, and Gair Brisbane (Scottish charity head). Also promoted are Investment Managers Lewis Mackinnon and Toby Willis, along with Business Development Manager Brendan Macken. (Dylan Lobo, 12/2/2025, Citywire Wealth Manager, 'LGT Wealth Management makes eight Abrdn alumni partners')Charles Stanley has appointed Paul Measures to lead IFA business in the North. Measures spent 30 years at Legal & General, including as Head of Intermediary Sales. He will work alongside Tom Hawkins (South) and report to Group Head of Sales Sean Osborne. (Natalia Vasnier, 12/2/2025, Citywire Wealth Manager, 'Exclusive: Charles Stanley hires LGIM sales boss to lead IFA push')​All information provided in this market digest has been gathered from Citywire Wealth Manager, Financial Planning Today, Money Marketing, and IDEX Consulting.

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Blog Thumbnails   New Size (50) financial services
2025 Employee Benefits employment outlook

The employee benefits landscape will continue to undergo significant transformation in 2025, shaped by rising healthcare costs, evolving workforce demands, and changing regulations.As firms grapple with the lack of new talent entering the market, employers are competing to attract new talent and keep hold of existing employees. Talent gaps specifically at the mid to senior level exist, which has contributed to increased salaries and hiring costs. According to a report by the Recruitment Employment Confederation (REC) “two-thirds of large employers (67%) and more than half medium-sized employers reported shortages of candidates” (Personnel Today: Candidate shortage afflicts two-thirds of businesses).From our research 67% of employers across the employee benefits sector said their biggest challenge will be the shortage of suitable applicants, and 50% said they don’t think they have the talent needed to achieve business objectives. Additional insights from our 2025 Employee Benefits Salary Guide and Market Sentiment report include a range of interesting factors employers and professionals should pay attention to.46% of employees surveyed said they are dissatisfied with their job Reasons include; workload, lack of resources and support, and absence of training and development. Comments included; “There has been too much uncertainty and too many acquisitions”, “Volumes of work have increased without help, due to resource lost over the year”, “We have lost team members who haven’t been replaced. This has led to being overworked”, and “Not being given the time to learn and grow”.82% of employees aren’t on a long term incentive planWhen asked what employees felt were most important to them when looking for a new role, the majority said salary, followed by non-financial benefits and a good employer brand and reputation in the market. As employers continue to compete for skilled professionals, competitive compensation packages will be key. However, this will continue to be a challenge for the sector as business costs and pressures increase. A poll by the Chartered Institute of Professional Development (CIPD) found that “three quarters of respondents did not think they would meet employee pay expectations in 2024”, however “of employers who have had to raise wages in response to hard-to-fill vacancies fewer...are taking lower profits, absorbing costs or accepting higher overheads” (CIPD: Pay awards). Early pay predictions for next year show a “median pay award across all sectors [to] be 3.5 per cent” with awards “currently predicted to reduce by one per cent…compared to 2024” (Pay data: Pay trends and expectations – 2024 and 2025). 33% of employers aren’t sure if they use their employer value proposition to attract talent Having a compelling, ‘human centred’ employee value proposition will set employers apart from their competitors. Working with external consultancies to develop this will help you to define the ‘why’ and ‘so what’ for your current workforce and prospective employees. Companies with a strong EVP have decreased attrition and better hiring success. For guidance on developing an effective employer value proposition get in touch.For more insights on the wealth management employment market, plus accurate salary data and hiring predictions for the next year access our 2025 Employee Benefits Salary Guide and Market Sentiment report.

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Fs Nl Web Thumbnail Newsletter
Financial Services newsletter Friday 31st January 2025

​Financial Services NewsSchroders will adopt all four FCA Sustainability Disclosure Requirements (SDR) labels—'sustainability focus', 'sustainability impact', 'sustainability improvers', and 'sustainability mixed goals'—bringing its total to 16 across the group. This follows December's announcement of labels for 10 funds and the addition of three Cazenove Capital funds. (Financial Planning Today, 28/1/2025, 'Schroders to adopt all 4 SDR labels')St James’s Place reported record £190.2bn Funds Under Management in 2024, with £18.4bn in gross inflows (up 23%), though net inflows fell to £4.33bn from £5.12bn. (Financial Planning Today, 30/1/2025, 'St James's Place FUM soars £22bn to £190bn in 2024')In further news...St James’s Place has shifted a £5.2bn sustainable mandate from Impax to Schroders, adopting a blend of value and growth strategies. Schroders' funds have outperformed SJP’s, with three-year returns of 23% and 21.5% versus SJP’s 9.9%. (Charles Walmsley, 13/1/2025, Citywire Wealth Manager, 'SJP hands £5.2bn Impax mandate to Schroders')Quilter's platform saw a 91% year-on-year increase in gross inflows from IFAs in Q4 2024, reaching £1,255m. Overall, gross and net inflows across all channels rose by 22% and 32%, respectively, with total net inflows of £1,919m. The group reported record net inflows of £2bn for Q4, contributing to £5.2bn in core inflows for 2024. The affluent segment saw a 58% increase in gross inflows to £3,914m. (Financial Planning Today, 23/1/2025, 'Quilter sees 91% increase in IFA platform inflows')Brooks Macdonald has announced a £10m share buyback to enhance its share value ahead of moving to the main LSE. The buyback, managed by Single Capital Markets, will run until September 2025, with shares purchased in the open market and cancelled to reduce share capital. Shares have traded between £14-£17 recently, down from a £27 high in 2021. (Victoria Bell, 28/1/2025, Citywire Wealth Manager, 'Brooks Macdonald announces £10m share buyback')The Treasury plans to invite senior figures from advice firms and wealth managers to industry forums with Chancellor Rachel Reeves later this year to discuss financial services growth, alongside banking, insurance, and asset management leaders. (Julian Bovill, 27/1/2025, Citywire Wealth Manager, 'Treasury wants advisers and wealth managers at chancellor's forums')Leicester-based advice firm Handford, Aitkenhead & Walker has rebranded as Optimum Path Financial Planning following a management buyout by sole shareholder Alasdair Walker, aiming to blend tradition with innovation and reflect a forward-looking vision. (Victoria Bell, 24/1/2025, Citywire Wealth Manager, 'Handford Aitkenhead & Walker changes name to Optimum Path')From April, HMRC will update its systems to end the use of emergency tax codes on pension withdrawals, reducing the need for reclaiming overpaid tax—a process that has led to £1.4bn in refunds across 470,000 claims since 2015. (Julian Bovill, 22/1/2025, Citywire Wealth Manager, 'HMRC to fix £1.4bn pension tax overpayment issue in April')Abrdn pledged to improve platform service after advisers withdrew £3.9bn in 2024, nearly double 2023 outflows. Despite a strong trading update and 7% share rise, adviser platform outflows continued, with £900m exiting in Q4 alone. (Charles Walmsley, 21/1/2025, Citywire Wealth Manager, 'Abrdn to redouble platform efforts after advisers pull £4bn in 2024')Bath-based advice firm Fidelius is rebranding to better appeal to women and younger clients, with a new look and approach launching publicly on 14 February. While the name remains, the firm aims to simplify financial planning and make it more relatable. (Victoria Bell, 20/1/2025, Citywire Wealth Manager, 'Söderberg-backed Fidelius to rebrand in pitch to women and younger clients')LV= has launched a new platform service for advisers in partnership with Embark, offering access to 5,000 funds, model portfolios, and LV=’s insured fund options across various wrappers, including SIPPs and ISAs, designed to enhance retirement income advice. (Financial Planning Today, 29/1/2025, 'LV= launches new adviser platform service')North Derbyshire-based Belmayne has been awarded CISI Chartered Firm status, recognising its high level of professionalism in financial planning. The family-oriented firm, based in Dronfield, met rigorous criteria to achieve the accreditation. (Financial Planning Today, 28/1/2025, 'Belmayne achieves CISI Chartered Firm status')Rosemount Financial Solutions, a Basingstoke-based IFA network, reported 25% revenue growth and a £500m increase in AUM to £2.5bn. Over the past year, the network grew its team by 8 staff and 31 advisers, including 12 Financial Planners, with protection business rising by 33%. (Financial Planning Today, 27/1/2025, 'Rosemount Financial Solutions sees 25% growth in revenue')A Charles Stanley study reveals high net worth women are less engaged than men in discussions with financial advisers. While 80% of HNW men are actively involved, only 67% of HNW women engage similarly, and 19% of women do not have an adviser. (Financial Planning Today, 27/1/2025, 'HNW women less engaged with financial advisers')Financial experts have welcomed Chancellor Rachel Reeves' Davos comments suggesting a potential softening of her October Budget move to scrap non-dom status. With 10,800 millionaires leaving the UK in 2024, experts see her comments as a possible sign of a re-think, offering a longer transition or diluted ban. (Financial Planning Today, 24/1/2025, 'Experts welcome potential ‘softening’ of non-dom crackdown')The average household is £31,546 short of the pension savings needed for a moderate retirement, four times higher than five years ago. Only 36.4% of households are on track for a moderate retirement, with Wokingham's gap at £265 and Kingston upon Hull's at £54,641. Authorities around London have some of the largest gaps, exceeding £70,000. (Financial Planning Today, 20/1/2025, 'Pensions gap grows to more than £31,000')National IFA Continuum reported a 23% year-on-year increase in assets under influence, reaching £12.4bn at the end of 2024. This marks the 10th consecutive year of double-digit growth. New business income rose 16%, while recurring income grew by 27%. (Financial Planning Today, 20/1/2025, 'National IFA Continuum reports AUI up 23%')A survey from Opinium revealed that while 56% of independent financial advisers view AI as an opportunity, the majority (64%) have no plans to implement it in client services within the next year. Only 14% are already using AI, with 23% planning to adopt it. (Financial Planning Today, 14/1/2025, 'Few advisers planning to use AI')The Attivo Group, parent of Chartered Financial Planning firm Attivo, has launched a new investment firm in partnership with SEI. Led by CEO Stephen Harper and CIO Charlotte Watson, the firm will offer three model portfolio ranges focused on goal-based investing, with fees ranging from 25-64 bps. The firm aims to enhance the investment management landscape by aligning services with the Financial Planning journey. (Financial Planning Today, 9/1/2025, 'Chartered Planner owner launches investment firm')Dynamic Planner has launched Financial Personality Insights, a new feature designed to give advisers a deeper understanding of clients' behaviours and attitudes towards financial risk. Developed by Dr. Louis Williams, the feature enhances the platform's Attitude to Risk (ATR) questionnaire, building on its psychometric analysis to offer more personalised advice. (Tom Browne, 28/1/2025, Money Marketing, 'Dynamic Planner launches Financial Personality Insights to improve client understanding')2025 Financial Services talent trends - IDEX Consulting’s 2025 Financial Services talent trends highlight rising operating costs, a lack of new talent entering the industry, and the growing influence of AI and regulatory changes.Employers must focus on strong branding, competitive compensation, clear career paths, and technological adoption. In-demand roles include financial advisers, paraplanners, and compliance experts. Employees are advised to be proactive in career development, upskill in AI and technology, and stay current with industry changes. (IDEX Consulting news, '2025 Financial Services talent trends')M&A buy and sell strategies: predictions and expert advice - M&A activity remains strong despite tax changes, with an emphasis on completing deals before the end of the 24/25 tax year. Sellers are urged to prepare early, focusing on structuring deals, due diligence, and regulatory compliance. Tax strategies, along with managing risks like cybersecurity and ESG concerns, are essential to maximizing business value during the sale process. (IDEX Consulting news, 'M&A buy and sell strategies: predictions and expert advice')Sustainability: how to win clients, customers and talent - Sustainability is becoming crucial for attracting clients, talent, and customers. Businesses are facing increasing demands for responsible practices from employees, customers, and investors, driven by factors like climate change and human rights. The commercial benefits of sustainability include enhanced reputation and cost efficiencies. IDEX Consulting’s study reveals that 89% of employers believe sustainability helps attract talent, and 78% of customers care about it. Companies should focus on developing a strong sustainability strategy to meet market demands. (IDEX Consulting news, 'Sustainability: how to win clients, customers and talent')How to create an inclusive hybrid and remote culture - Inclusive hybrid cultures require more than just engagement strategic; businesses must actively embed inclusive practices. Hybrid work presents challenges, particularly for marginalized groups, due to biases in virtual settings and accessibility issues. Key strategies include understanding diverse employee experiences, fostering open feedback, and providing tailored training for virtual inclusion. Proactive measures will ensure a more equitable and connected workforce.(IDEX Consulting news, 'How to create an inclusive hybrid and remote culture')Mergers and AcquisitionsEvelyn Partners has sold its Authorised Corporate Director (ACD) arm, Evelyn Partners Fund Solutions (EPFS), to Thesis Holdings for an undisclosed sum. The division, with £10.6bn in assets under governance, was sold as part of Evelyn's strategic review to refocus on wealth management, following the sale of its accountancy arm last November. (Natalia Vasnier, 27/1/2025, Citywire Wealth Manager, 'Evelyn Partners sells £10.6bn ACD to Thesis')Titan Wealth has acquired Jersey-based financial advice firm Advisa Wealth, which manages £525m in assets for 1,800 clients. The firm's management team and 10 advisers will join Titan Wealth, further strengthening its presence in the Channel Islands. This acquisition is part of Titan's ongoing expansion strategy, supported by private equity funding. (Sophie Downes, 24/1/2025, Citywire Wealth Manager, 'PE-backed Titan Wealth buys 30-year-old Jersey firm')Isle of Man-based Manx Financial Group has acquired CAM Wealth Management for £210,000. CAM was formed in April 2023 by Derek Gawne and Lizz Ewart after they acquired and rebranded Charteris Asset Management. The firm is headquartered in Liverpool. (Dylan Lobo, 23/1/2025, Citywire Wealth Manager, 'Boutique formed by wealth veterans sold for £210k')Generali, the Italian insurance giant, has entered a joint venture with French investment manager Natixis, combining their asset management businesses. The deal highlights the ongoing asset accumulation wars in Europe. While only a portion of the firms' assets are visible, the merger presents potential synergies, with €164bn in assets from Natixis and €40bn from Generali seen by Morningstar. (Frank Talbot, 21/1/2025, Citywire Wealth Manager, 'Natixis-Generali: Will the latest European mega-merger work?')Aberforth Partners has acquired a 5.44% stake in Brooks Macdonald, valued at nearly £14m, following the wealth firm's announcement to leave the AIM market. This acquisition adds to Aberforth's existing 2.3% stake in rival Quilter. The stake was purchased on the same day Brooks revealed plans to transfer its listing to the main market to enhance its corporate profile, with the move expected to complete between 4 and 31 March 2025, pending regulatory approval. (Dylan Lobo, 20/1/2025, Citywire Wealth Manager, 'Aberforth unveils £14m Brooks stake ahead of AIM exit')Söderberg & Partners has acquired stakes in Radcliffe & Co, Francis Clark Financial Planning, and Qi Financial Solutions. Radcliffe & Co manages £1.5bn in assets, serving 3,500 personal clients and 150 corporate schemes. FCFP, with nine offices, manages £900m in assets, employing 65 chartered financial planners. Qi Financial Solutions, based in Croydon, advises on £165m in assets with seven staff, including three chartered financial planners. (Sophie Downes, 16/1/2025, Citywire Wealth Manager, 'Exclusive: Soderberg takes stakes in three more advice firms')Perspective Financial Group made five acquisitions in December, adding £375m in assets, 1,100 clients, and new offices in Derbyshire, Lincolnshire, and Cheshire. These deals bring the firm’s 2024 total to 29 acquisitions, increasing its overall total to 107 since 2008. The acquired firms include Hallidays Wealth Management, Foinaven Asset Management, Tony Fenton & Sons, PW Financial Management,and a client book from Perspective (Home Counties) Ltd. (Financial Planning Today, 21/1/2025, 'Perspective adds £375m AUA with 5 acquisitions')Hoxton Wealth has acquired Darlington-based Family First Financial Services, its fifth UK acquisition in 12 months, adding £85m AUM. Established in 2003, Family First offers comprehensive Financial Planning services, including wills, inheritance tax advice, and trust fund benefits. (Financial Planning Today, 20/1/2025, 'Hoxton Wealth adds Darlington firm')​MoversEvelyn Partners has appointed Bahador (Bids) Mahvelati as Chief Operations Officer, starting in March. He will also be part of the executive committee as the firm focuses solely on wealth management. Mahvelati joins from PwC UK, where he led the financial services value creation practice. His prior experience includes operational roles at UBS Investment Bank and Natwest Group, as well as strategic consultancy work. (Dan Cooper, 28/1/2025, Money Marketing, 'Evelyn Partners names Bids Mahvelati as new chief operations officer')​Schroders will cut 200 jobs, 3% of its workforce, as part of a restructuring under new CEO Richard Oldfield. The move aims to reposition the firm for growth and meet 2025 objectives. Most affected roles will be in technology, and the executive committee has been reduced from 22 to 9 members. (John Schaffer, 17/1/2025, Citywire Wealth Manager, 'Schroders to cut 3% of staff in new CEO’s growth bid')Caroline Abbondanza, former COO at Brooks Macdonald, has joined SS&C as a Senior Director. She left Brooks in September after serving as COO and CTO. Previously, she was group CIO at FNZ. (Victoria Bell, 29/1/2025, Citywire Wealth Manager, 'Brooks Macdonald former operations chief winds up at SS&C')Andy Curran will retire as CEO of Standard Life this summer after 35 years in the industry, five of which were spent at Standard Life. The firm, a subsidiary of Phoenix Group, will adopt a flatter structure, merging its retirement solutions and asset management divisions under Mike Eakin. Colin Williams, Tom Ground, and Nigel Dunne will continue in their current leadership roles. (Julian Bovill, 28/1/2025, Citywire Wealth Manager, 'Standard Life CEO Andy Curran to retire')Progeny Founder Neil Moles is stepping down as CEO, with CFO Tom Wood set to take over. Moles will remain involved as a Non-Executive Director and President. Bobby Ndawula, formerly with Skipton Building Society, will join as the new CFO. Moles, a significant shareholder in Progeny, expressed his delight at having Tom Wood succeed him as CEO. (Victoria Bell, 28/1/2025, Citywire Wealth Manager, 'Exclusive: Progeny CEO Moles steps down')Martin Gilbert stepped down from the board of Saranac Partners on 17 December. Gilbert, who helped establish the wealth firm in 2016 alongside ex-Barclays Wealth Chief Tom Kalaris, had been a Non-Executive Director since 2020. Tom Kalaris, who remains a significant stakeholder in the firm, continues to play a role in its direction. Since leaving Standard Life Aberdeen, Gilbert has focused on launching his new venture, AssetCo, where he has been heavily involved in its development and various non-executive roles. (Dylan Lobo, 27/1/2025, Citywire Wealth Manager, 'Martin Gilbert steps back from DFM he helped launch')Stewart Cape, who was appointed as Progeny's Head of M&A in September 2022, has left the private equity-backed consolidator at the end of 2024. Cape was brought in to lead Progeny's acquisition strategy. Prior to this role, he spent 12 years at KPMG overseeing its mergers and acquisitions practice. Progeny declined to comment further on his departure. (Victoria Bell, 22/1/2025, Citywire Wealth Manager, 'Exclusive: Progeny's M&A boss leaves after two years')Transact CEO Jonathan Gunby will retire in March 2025, with Tom Dunbar, currently Chief Development Officer, set to succeed him as part of a planned succession. Gunby, who has been with Transact since 2011, helped grow assets under management from £10bn to £62bn and played a key role in the company's 2018 IPO. Dunbar, who joined Transact in 2017, previously worked at Royal London and NMG Consulting, and was promoted to the board in 2024. Andrew Cullen-Jones, former Head of Advice Policy at St James’s Place, will take over Dunbar's role as Chief Development Officer. (Victoria Bell, 22/1/2025, Citywire Wealth Manager, 'Jonathan Gunby to retire as Transact CEO')Openwork has appointed David Thomas as Digital Product Director and Anna Bartholomew as Head of Partnership Services, following its investment from Bain Capital in 2024. Thomas, previously Head of Product at Schroders Personal Wealth, will develop technology for Openwork's 600 appointed representative firms. Bartholomew will focus on building business relationships. (Charles Walmsley, 20/1/2025, Citywire Wealth Manager, 'Openwork makes double hire with eye on tech')Tatton Investment Management has hired Olivia Geldenhuys from Schroders as Head of its specialist team, replacing Chris Robinson who left the business in August to launch an MPS service for Premier Miton. Geldenhuys, who joins from Schroders' £6.3bn solutions team, will lead technical support for the firm's partner firms. Prior to Schroders, she spent nine years at PortfolioMetrix in client service, business development, and distribution planning. She will be based at Tatton's London office. (Sophie Downes, 20/1/2025, Citywire Wealth Manager, 'Exclusive: Tatton hires specialist head from Schroders')M&G Investments has appointed Marcello Arona, former CEO of AXA Investments UK, as CFO for its asset management business, replacing Sean Fitzgerald who is retiring. Arona, with a long tenure at AXA IM, has held roles including COO of AXA IM Italy, Regional CFO for the US, and Head of AXA IM Americas. He was most recently Head of AXA IM UK and AXA IM GS. Arona will oversee M&G’s global financial operations, contributing to its long-term growth. (Dylan Lobo, 20/1/2025, Citywire Wealth Manager, 'M&G hires AXA IM UK CEO as funds finance boss')Two senior figures at Rathbones have recently left the firm: Emma Renals, COO of Rathbones Asset Management (RAM), and Emma Watson, Head of Financial Planning. Renals, who joined in 2017 and became COO in 2023, previously worked at Jupiter Asset Management, Deutsche Bank, and Morgan Stanley. Watson, with Rathbones for eight years, led the firm’s financial planning strategy after spending 11 years at Towry. Their replacements have yet to be confirmed, and it is unclear if they have taken new roles. (Sophie Downes, 15/1/2025, Citywire Wealth Manager, 'Exclusive: Rathbones financial planning head and COO depart')Peter Coleman, former Chief Commercial Officer at Succession Wealth, has been appointed CEO of Kingswood on a permanent basis. Coleman initially joined Kingswood as interim CEO in July 2024 after David Lawrence stepped down. Prior to Succession, Coleman held leadership roles at Wealth Wizards and was CEO of Positive Solutions, which was acquired by Intrinsic in 2013. (Dylan Lobo, 10/1/2025, Citywire Wealth Manager, 'Ex-Succession CCO is named permanent Kingswood CEO')Lauren McHenry of Pareto Financial Planning has achieved Chartered Financial Planner status, six years after starting as a trainee Paraplanner in 2018. McHenry progressed through the firm's qualification and support programme. She holds a law degree from Newcastle University and has 12 years of experience in financial services, including roles in technical support and Paraplanning. McHenry joined Pareto in 2018 after relocating from London to Manchester. (Financial Planning Today, 28/1/2025, 'Pareto celebrates home-grown Chartered Financial Planner')Peter Maddern has been appointed Managing Director of retirement at Canada Life, succeeding Tom Evans, who is leaving for a new opportunity. Maddern will join the UK executive committee, reporting to UK CEO Lindsey Rix-Broom. He brings 18 years of experience at Canada Life, most recently as Vice President of Capital Management at its Canadian parent company. Maddern previously led the bulk purchase annuities (BPA) strategy and played a key role in developing Canada Life’s wealth business. Tom Evans had been leading Canada Life’s home finance business following the 2018 acquisition of Retirement Advantage. (Financial Planning Today, 27/1/2025, 'Canada Life appoints new retirement MD')Acumen Financial Planning has promoted Keith Mackie to Group Managing Director, succeeding Founder Sandy Robertson, who transitions to Group Finance Director. Robertson, who founded the Aberdeenshire-based firm in 2002, will remain with the company. Since its inception, Acumen has expanded across Scotland through acquisitions and organic growth. Mackie joined the firm in 2004 and became a Director in 2014. (Financial Planning Today, 23/1/2025, 'Acumen selects new MD as founder steps back')Julius Baer International has appointed Gareth Johnson as Head of Managed Portfolio Service (MPS) to develop an MPS offering for UK independent financial advisers. Johnson previously spent 22 years at RBC Brewin Dolphin, where he led the MPS division from 2010, helping it grow into a key firm area. He also introduced the MI Select Manager and Voyager Multi Asset ranges. (Financial Planning Today, 21/1/2025, 'Julius Baer launches MPS for advisers')Isabel Hudson will succeed Lynne Peacock as Chair of Royal London on 10 February. Hudson brings extensive experience from senior roles in insurance, pensions, and regulation, as well as non-executive positions in telecoms and house building. She currently serves as a Non-Executive Director at AXA SA and Chair of Guide Dogs, with past roles at RSA Insurance, Phoenix Group, BT, and others. (Financial Planning Today, 17/1/2025, 'Royal London selects Isabel Hudson as next chair')Kate Richardson has joined Brown Shipley as a Client Adviser in London, bringing 17 years of wealth management experience. Previously a Senior Client Adviser at UBS Wealth Management for the South West region, she has held various roles at UBS since 2007. Richardson will focus on building relationships and expanding Brown Shipley's business across southern UK, working with both Brown Shipley and parent company Quintet Private Bank. (Financial Planning Today, 16/1/2025, 'Brown Shipley adds to London advice team')Torsten Bell, former CEO of the Resolution Foundation, has been appointed as the new Pensions Minister following a reshuffle. He succeeds Emma Reynolds, who has been promoted to Economic Secretary at the Treasury. Bell, an economist with nearly a decade of experience at the Resolution Foundation, will continue his predecessor’s cross-department role, also serving as Parliamentary Secretary in the Treasury and Parliamentary Under Secretary of State in the Department for Work and Pensions. (Financial Planning Today, 15/1/2025, 'Torsten Bell MP becomes new Pensions Minister')P1 Investment Services has appointed Michelle Angell as Senior Client Services and Operations Manager. Angell, with over 20 years of experience in wealth management and platforms, will lead the development of P1’s client servicing team. She previously held management roles at Atomos Wealth, Seccl, Abrdn, Winterflood Business Services, and Barclays Wealth. (Financial Planning Today, 13/1/2025, 'P1 Investment Services hires Ex-Seccl manager')All information provided in this market digest has been gathered from Citywire Wealth Manager, Financial Planning Today, Money Marketing, and IDEX Consulting.

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2025 Employee Benefits talent trends

Our Employee Benefits consultant Ashlea Walton, Client Director, shares her thoughts below on hiring trends, what employers need to implement in 2025 to attract top talent and how employees can enhance their career prospects.If you’re looking for support with your hiring strategy, searching for top talent across the employee benefits sector or considering a new career opportunity get in touch with Ashlea Walton.What’s affecting hiring and employment across the employee benefits market?  M&A activity has ramped up in recent years across the employee benefits market which has resulted in less choice for employees in a consolidated market. Naturally, we’ve seen smaller brokers swallowed up by large corporates and for some, the thought or working for a large business isn’t appealing. As a result of this, the candidate pool for each vacancy becomes smaller. Candidate salary expectations versus client budgets do not always align. Due to the cost of living crisis, some candidates are more incentivised by large salary increases compared to other drivers. This occasionally prices them out of great opportunities when being compared internally, again reducing the candidate pool if there are no compromises. The shortage of candidates continues to be a challenge across the market and has been for a number of years. Lack of new talent entering the market is partly to blame, creating a significant gap at mid-level. This talent shortage is contributing to increased salaries and hiring costs, as firms compete to secure talent to bridge the gap.What are the in-demand roles for your market? As employees, the way in which we access benefits is evolving as we continue to move towards a digital world – the use of technology enables inclusivity; easier access and understanding which in turn leads to a happier and healthier workforce. As such, there’s been a huge increase this year in the number of flexible benefits/benefits technology roles available, to not only support existing clients, but develop new logo business. Group risk, healthcare and wellbeing consultants will continue to be a sought after skillset throughout 2025 as employers strive to support a diversifying workforce in every aspect of their lives including their physical, mental, and financial health. A recent survey highlighted health insurance as one of the most sought after employee benefits and with NHS waiting lists not looking to improve imminently, I can only see this need increasing. As always, new business focused individuals will be of high interest to any firms looking to increase their revenue and capitalise on increased market demand across all areas of employee benefits. What are the in-demand skills employers are looking for? Commercially minded, technically astute, client centric and proactive with an entrepreneurial flair is a winning combination for most hiring managers. Individuals who are focused on a consultative approach with clients opposed to a transactional, product sell is key. Being able to think strategically to support business growth is a key skillset. What do employers need to implement throughout 2025 to be successful in recruiting the best individuals in the market? Focus on your promoting a strong employer brand and don’t fall into the trap of “we have a good reputation and people should want to work here” as that is occasionally not the case. Taking on board market feedback about your culture is key to being able to ensure it is one which will attract high calibre individuals. Being able to demonstrate an inclusive, happy, stable, rewarding and progressive environment will strengthen your chances of securing the individuals you want when they have multiple offers on the table.Ensure a recruitment process is always a two way conversation and you’re as transparent as possible with candidates during the process about the wider business, plans and growth opportunities. Of course, they need to fit your requirements for the role, but you also need to fit theirs!A trusted partnership with a specialist agency is incredibly important. Work with a recruiter who understands your business and will act as an extension of your brand. Someone who can take candidates on the journey to engage them in your business, share your story, successfully fill live vacancies and pipeline passive candidates in-line with your growth strategy, will ensure you’re always one step ahead. With in-demand skills in short supply, its crucial that time to fill is as short as possible.Practice what you preach - if you’re telling clients what employee benefits they need to implement, you need to be doing it for your own employees! It sounds minor but there are definitely still employee benefits firms out there offering poor benefits as part of their remuneration package and it doesn’t send the right message to prospective employees. What do employees need to focus on throughout 2025 to enhance their career prospects? Focus on strengthening your personal brand; a quality CV, industry networking, thought leadership and consistent online presence are some of the ways you can improve this.Put time and effort into your CV. Make it simple, easy to read with a professional presentation and, include financial targets and achievements to demonstrate your ability. Be concise whilst ensuring its in-depth enough to contain all of the relevant information about your experience. Keeping a CV to two pages is an outdated approach in my opinion and it is key you are utilising this as your first chance to sell yourself. Find a recruiter you trust and stick with them! You need to partner with someone you feel has a genuine interest in your career, knows the market, can demonstrate strong relationships with key businesses, is responsive and is knowledgeable to ensure you receive insightful prep ahead of any interviews. Think about what value you can add to a business above and beyond your role – this really makes you stand out as someone who will go the extra mile. If you’re asking for a top heavy salary which may be above banding, this is key. If you’re asking for more than current employees or other candidates in the process, you need to be able to demonstrate why you’re worth it.Finally, ensure you can demonstrate a sound understanding of the market; trends, new legislation, opportunities and challenges. This gives your prospective employer confidence that they are hiring someone who is interested, proactive and will continue to develop within their organisation.If you’re looking for support with your hiring strategy, searching for top talent across the employee benefits sector or considering a new career opportunity get in touch with Ashlea Walton.​

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Meet the Financial Services Experts

Alison MacMillan

Alison MacMillan

Emma Murray

Emma Murray

Jack Johnson

Jack Johnson

 Louise Bibb

Louise Bibb

Ashlea Walton

Ashlea Walton

Graeme Hyland

Graeme Hyland

Alex Merrick

Alex Merrick

James Salmon

James Salmon

Graeme Winn

Graeme Winn

David Elders

David Elders

Lynn Wilson

Lynn Wilson

Samantha Durbridge

Samantha Durbridge

  • 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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  • Louise Bibb

    Business Manager

    Mobile: 07706 736 747 | E-mail: louise.bibb@idexconsulting.com​Louise has worked within Financial Services recruitment for over 9 years, predominantly focusing within the South ...

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