Jasmine Pandey

4 weeks ago | moneymarketing.co.uk | Dan Cooper |Jasmine Pandey

AJ Bell has agreed to sell its Platinum Sipp and SSAS business to InvestAcc Group in a deal worth up to £25m. The sale of AJ Bell Platinum, part of its non-platform business, will comprise £18.5m upon completion, made up of £17.5m in cash and £1m in new InvestAcc shares. A further £6.5m deferred payment will be made subject to certain conditions being met. AJ Bell Platinum has 3,600 customers with £3.2bn of assets under administration, which will transfer to InvestAcc on completion.

4 weeks ago | moneymarketing.co.uk | Darius McQuaid |Jasmine Pandey |Shelley McCarthy

Evelyn Partners boss Paul Geddes is “excited about the opportunities ahead” as the business refocuses solely on wealth management. In its financial results for 2024, the business reported that its wealth management business had delivered “another strong year”, with £8bn gross inflows. It said assets under management closed the year at a “record high” of £63bn, driven by £1.3bn of net inflows and £2.6bn gains from positive market movements and investment performance.

1 month ago | moneymarketing.co.uk | Momodou Musa Touray |Darius McQuaid |Jasmine Pandey

Inheritance tax receipts have hit record new highs, with £7.6bn collected by the Treasury between April 2024 to February 2025. This is £800m higher than the same period last year. The government expects the records to keep on being broken, with the Office for Budget Responsibility forecasting total receipts of £9.7bn for the 2028/29 tax year. The rise in IHT receipts partly reflects the ongoing freeze on thresholds.