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1 week ago | 
citywire.com | Victoria Bell
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1 week ago | 
citywire.com | Victoria Bell
Consolidator Ascot Lloyd is in advanced talks to buy Aberdeen’s advice arm, formerly 1825. A source familiar with the discussions told Citywire there are ‘conversations in train’ on a deal between the two businesses. It is understood that Aberdeen is being advised by broker Dyer Baade. Already have an account? Which of the following best describes your role?
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1 week ago | 
citywire.com | Victoria Bell
Chancellor Rachel Reeves is said to be exploring reversing the decision to charge inheritance tax on the assets of non-doms.
The end of the non-dom regime was confirmed by Reeves in her October Budget, when she also announced the closure of the trusts ‘loophole’, which allowed for the use of offshore trusts to avoid inheritance tax.
The new rules to charge inheritance tax at 40% on the global assets of non-doms in the UK came into force in April. Already have an account?
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3 weeks ago | 
citywire.com | Victoria Bell
You can’t please every adviser, according to Bill Stone, the CEO of American software giant SS&C.
In the past few years, the US tech provider has been gaining market share in the UK adviser market, winning deals with consolidators and wealth managers such as Brooks Macdonald and Shackleton, formerly Skerrits.
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4 weeks ago | 
citywire.com | Victoria Bell
Söderberg-backed advice firms Fidelius and Timothy James Partners (TJP) have merged.
London-based TJP will become part of Bath-based Fidelius but will retain its own name and branding.
The combined business will comprise of 50 advisers and assets under management (AUM) of over £3bn. Already have an account? Which of the following best describes your role?
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1 month ago | 
citywire.com | Victoria Bell
The government will be handed a ‘reserve power’ to force pension funds to invest in UK equities.
Last night, the Treasury announced plans to merge some pension schemes to become ‘megafunds’ with at least £25bn in assets by 2030, as part of wider plans to drive investment in UK companies.
Following weeks of speculation, it is the first time the government has confirmed it will introduce a mandate to ‘provide additional certainty’ for pension funds to invest in UK equities.
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1 month ago | 
citywire.com | Victoria Bell
Private equity-backed consolidator The Purposeful Group has launched a white-label platform with SS&C Hubwise after its rebrand from Finitor Wealth.
The platform is live after first piloting with the advice group’s Dorset office. It will now be rolled out to the remaining seven offices.
The deal was signed around June last year. Since then, the platform was being configured, and set up with Purposeful’s investment solution, as well as training its advisers. Already have an account?
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1 month ago | 
citywire.com | Victoria Bell
Private equity-backed advice firm Finitor Wealth has rebranded to Purposeful Group after its chief executive quietly exited the business last month.
Finitor’s former chief financial officer Richard Rhodes has now taken on the CEO role, after Paul Stokes exited in April.
Finitor, co-founded by Rhodes and Stokes, has rebranded to Purposeful because the name Finitor had ‘very little meaning in the way of our heritage’, Rhodes said. Already have an account?
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1 month ago | 
citywire.com | Victoria Bell
Rachel Reeves will not reduce the limit to the amount you can put in an ISA, she has confirmed.
In an interview with the BBC’s Newscast, the chancellor was asked whether she plans to cut the £20,000 annual tax-free limit.
She said: ‘I’m not going to reduce the limit of what people can put into an ISA, but I do want people to get better returns on their savings, whether that’s in a pension or in their day-to-day savings. Already have an account?
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1 month ago | 
citywire.com | Victoria Bell
Inflation has risen to 3.5% in April, higher than expected as household bills and national insurance contributions increased dramatically.
The Office for National Statistics (ONS), revealed the Consumer Prices Index (CPI) rose by 3.5% in the 12 months to April, the highest it has been all year.
The figure is greater than analysts’ expectations of 3.3%. The central bank expected last month’s inflation rate to hit 3.4%. Already have an account?
