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2 months ago | 
moneymarketing.co.uk | Andrew Tully |Dan Cooper
Tax receipts for the 2024/25 tax year have just been announced confirming the overall tax receipts in the UK, as a percentage of GDP, are the highest since the end of the second world war. With OBR predicting it will reach a historic high in 2027/28 and remain at a high level for the rest of its forecast. While this won’t be welcome news to many of your clients, it does give opportunities to demonstrate the value of tax planning and help people manage the tax they are paying.
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2 months ago | 
professionaladviser.com | Andrew Tully
With so much happening in the world of pensions, it's easy to forget that it's now more than a year since the abolition of the lifetime allowance. Despite that, we are still receiving many questions around some of the specific advice points. One we are frequently asked about is where a client has a scheme-specific lump sum and, if they have other schemes, the order in which their benefits should be taken to maximise the tax efficiency.
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2 months ago | 
moneymarketing.co.uk | Caitlin Jordan |Kimberley Dondo |Andrew Tully
The first cracks in the US stock market’s façade have appeared, spurred by worries over global trade and growth. Time to move to the debt market? Fixed income portfolio managers Mike Riddell and James Durance examine a volatile landscape in a new episode of Fidelity Answers. “Until very recently, markets have been pricing in that the US economy will continue growing at 3 per cent forever.
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Mar 10, 2025 | 
ftadviser.com | Andrew Tully
Nucleus has written to pensions minister Torsten Bell calling for a non-departmental government long-term savings commission to be set up. The open letter aims to spark discourse amongst government to create a greater political consensus around pensions and long-term savings policy. Nucleus believed the case for encouraging long-term savings was “clearer than ever” as it would help inject more capital into investment, supporting both individual retirement security and broader economic growth.
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Mar 3, 2025 | 
professionaladviser.com | Andrew Tully
The HM Revenue & Customs (HMRC) consultation on the inclusion of pensions within the scope of inheritance tax (IHT) from April 2027 has recently closed. Hopefully, HMRC will consider other options which may provide a better outcome for customers, beneficiaries, personal representatives and the industry. Meanwhile, thoughts will start to move towards planning. For those with greater wealth, for the last ten years, pensions have often been one of the last options used to generate income.
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Feb 11, 2025 | 
moneymarketing.co.uk | Tom Browne |Momodou Musa Touray |Mel Kenny |Andrew Tully
International financial advisory firm Hoxton Wealth has opened its first office in Mexico City as part of its expansion strategy in the Americas. The office will initially focus on providing financial-planning services to US-connected individuals. Aaron Vickery has been appointed as country manager to lead the new team of four. Vickery brings 20 years of experience in wealth management, having worked in both the Middle East and Latin America.
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Feb 10, 2025 | 
moneymarketing.co.uk | Tom Browne |Momodou Musa Touray |Andrew Tully |Noel Butwell
MetLife UK has announced a series of strategic leadership changes to accelerate growth and transformation as it strengthens its market position. The appointments aim to enhance commercial activities, drive innovation and ensure the business remains agile in an evolving financial landscape. Adrian Matthews has been appointed UK deputy CEO, a newly created role focused on overseeing distribution, product and marketing strategies.
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Jan 29, 2025 | 
moneymarketing.co.uk | Dan Cooper |Darius McQuaid |Paul Harper |Andrew Tully
AJ Bell said it will continue to focus on growing its dual channel platform after adding a further 19,000 customers in the past quarter. It brought the total number to 561,000, up 16% in the last year and 4% in the past three months. The number of advised customers has risen by 2% in the quarter to 174,000, while D2C customers rose by 4% to 387,000. This resulted in record assets under administration (AUA) of £89.5bn, an increase of 17% in the last year and 3% in the quarter.
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Jan 28, 2025 | 
moneymarketing.co.uk | Dan Cooper |Andrew Tully |Momodou Musa Touray
Evelyn Partners has announced that Bahador (Bids) Mahvelati will join the firm in March as chief operations officer. He will also be serve as a member of the group’s executive committee as the business refocuses exclusively on wealth management. His appointment is subject to regulatory approval. Mahvelati will join Evelyn Partners from PwC UK, where he is a strategy and operations Partner and leads the financial services value creation practice.
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Jan 28, 2025 | 
moneymarketing.co.uk | Andrew Tully |Emmelia Powell
HMRC’s consultation around the inclusion of pensions within the scope of Inheritance Tax (IHT) from April 2027 has recently closed. Many of the responses are likely to emphasise that this change will provide poor outcomes for customers, beneficiaries, personal representatives (PRs), the industry and HMRC. Most pension schemes operate death-benefit payments under a discretionary disposal procedure.
