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1 week ago | 
citywire.com | Dylan Lobo |Charles Walmsley
NatWest has launched an online advice service, joining a wave of banks pushing for more retail investors to invest with them.
Banks including HSBC and Barclays have been returning to the advice space with an eye on expanding their coverage for ‘premier’ clients. Typically these are current account holders earning £100,000 a year or with at least £100,000 of assets to invest.
A quarterly trading update from NatWest this morning highlighted its launch in the space. Already have an account?
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2 months ago | 
citywire.com | Daniel Grote |Algy Hall |Zachariah Sharif |Charles Walmsley
Drum roll... the big earnings event of the quarter has arrived: fourth-quarter results from Citywire Elite Companies AAA-rated Nvidia (US:NVDA). ‘This was a “goldilocks” quarter,’ said Garry White, chief investment commentator at Charles Stanley. ‘It was neither too hot nor too cold – and the share price reaction should be relatively muted too.
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2 months ago | 
citywire.com | Daniel Grote |Zachariah Sharif |Charles Walmsley
It has been all change at Evelyn Partners in recent months, with the wealth giant shifting its model to focus on its core wealth management function.
Private equity (PE) backer Permira will hope that by cutting costs and simplifying operations, it can find a buyer for its £1.5bn stake.
Citywire Wealth Manager understands that a sale is likely to take place in 2026 to another PE house or a bank looking to expand into UK wealth management. Already have an account?
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2 months ago | 
citywire.com | Daniel Grote |Michelle McGagh |Charles Walmsley
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2 months ago | 
citywire.com | Daniel Grote |Charles Walmsley |Sophie Downes
Ben Whitmore’s Brickwood Asset Management is planning a global value fund to follow the launch of its first UK fund this week.
Documents published alongside the launch of TM Brickwood UK Value show another fund, TM Brickwood Global Value, is set to roll out.
The launch of a global fund fits with the investing experience of Brickwood’s three fund managers, Whitmore and brothers Dermot and Kevin Murphy. Already have an account?
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2 months ago | 
citywire.com | Charles Walmsley |Victoria Bell |John Schaffer |Sophie Downes
Jupiter recorded a net outflow of more than £10bn last year after losing Ben Whitmore’s value team and the Chrysalis investment trust.
Full-year results published this morning revealed net outflows grew from £2.2bn in 2023 to £10.3bn in 2024.
Without the high-profile departure of Whitmore’s team, Jupiter said outflows would have stood at £3.3bn. The asset manager has lost mandates, including with advice firm Openwork, following the value investor’s departure. Already have an account?
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2 months ago | 
citywire.com | Charles Walmsley |Victoria Bell |John Schaffer |Sophie Downes
St James’s Place (SJP) is exploring building a passive investing proposition for the first time, it has announced.
The advice giant revealed in its full year results this morning that it is pursuing new strategy initiatives including bringing in AI tools for its advisers and working with the government on the advice guidance boundary review.
But the announcement of an entirely passive investment proposition was the most eye-catching of the plans. Already have an account?
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2 months ago | 
citywire.com | Victoria Bell |Charles Walmsley |John Schaffer |Sophie Downes
Brooks Macdonald continued to see its model portfolio service (MPS) drive new business in the first half of its financial year.
Overall, the wealth manager saw net outflows of £300m in the six months to 31 December 2024.
While the firm brought in £1.1bn in new money, it suffered a gross outflow of £1.4bn, with the bulk of money pulled from its bespoke proposition in the run-up to last October’s Budget. Already have an account?
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2 months ago | 
citywire.com | Julian Bovill |Charles Walmsley |Himanshu Singh |Jack Gilbert
Campaigners have threatened the government with legal action if it does not reverse its decision to not pay compensation to women affected by changes to the state pension age.
The Parliamentary Health and Service Ombudsman ruled last March that the government was at fault for not communicating an increase in the state pension age to 65 clearly enough and should therefore pay compensation to the cohort of women affected.
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2 months ago | 
citywire.com | Julian Bovill |Charles Walmsley |Himanshu Singh |Tom Selby
An adviser has urged his peers not to be scared of raising prices, encouraging them to consider the value they provide clients. Speaking at the Citywire New Model Adviser Leadership Summit, Philip Hanley, founder of Philip James Independent Financial Planning, said being ‘brave’ and putting his prices up meant his profit margins rose and his business grew.
