The big stories for financial planners, from Charles Walmsley, @jackgilbert13, @nn_blackburn, @journozach and @victoriabell70
Citywire Financial Publishing
Joined July 2010
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Excl: SJP pushes back rollout of new charges to August
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Dubai trips, sales scripts and sacked advisers: What happened to SJP's second-biggest AR
@BovillJulian
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HL, Quilter and AJ Bell CEOs urge Reeves to reconsider IHT on pensions
@BovillJulian
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Citywire New Model Adviser retweeted
CEOs from three of the UK's largest providers have urged Reeves to reconsider IHT on pensions, Citywire understands. Comes months after Andy Bell initially pushed for a reconsideration.
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Citywire understands that the consumer investments directorate, which has been overseeing the FCA’s review into ongoing service, will also undertake the review of consolidation.
@BovillJulian
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Azets Wealth Management has struck a deal to acquire Newcastle-based IFA Laurus Associates for an undisclosed sum.
@victoriabell70
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Swapping pensions for higher pay isn’t an easy fix for public sector
@BovillJulian
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Citywire investigation reveals the most detailed picture yet of the levels of borrowing fuelling consolidators’ adviser acquisitions, uncovering previously unreported debt issued by Guernsey, Jersey and Cayman Island parent companies.
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FCA restriction blocks FNZ from taking on new clients
A note on the FCA register shows the platform tech provider must not ‘enter into any agreement with an existing or new client’ of the firm without the prior written consent of the FCA.
@victoriabell70
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Exclusive: SJP to make 500 job cuts.
The advice giant recently told staff in an internal memo that it would be making the large number of job cuts as part of a company-wide restructure.
@JackGilbert13
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It has been a hectic 24 hours since Rachel Reeves delivered her first Budget as chancellor.
These are some of the brilliant stories that our journalists have covered, from IHT being levied on pensions to the enormous NI hike for employers... 🧵
The big revenue raiser for the government, and the story that seems most likely to rumble on for months and potentially years, is the NI hike for employers.
@JournoZach had all of the details.
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Finally, the government plans to raise £1.5bn by 2029 through levying IHT on pensions. Though looking over the consultation, there is a lot of work to be done before the government can feel comfortable introducing the measures in 2027.
@BovillJulian
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Exclusive: Scottish Widows to lose iconic widow in rebrand
The life and pensions company is ‘phasing out’ the widow model, @victoriabell70 revealed.
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Exclusive: Treasury has contacted providers to ask about the feasibility of levying national insurance on employer pension contributions. Could raise up to £24bn.
@BovillJulian
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