Wealth manager Quilter is to open up its HNW propositions to external independent financial advisers working with wealthy clients. CEO Paul Feeney revealed the plan at the company’s AGM yesterday. Mr Feeney also revealed that Quilter is close to launching a hybrid advice service. Mr Feeney told the AGM that after the slowdown during the […]
Archives for May 2022
Wealth Briefs: Envestnet launches retirement platform, PIABA and FINRA agree on complex products, and Northwestern Mutual invests in Black-led CDFIs
Should I Use Cash or Accrual Accounting? Your Answer Awaits…
When it comes to running a business, you take on the role of decision-maker. And, one of your biggest decisions is if you should use cash or accrual accounting. What’s the difference? How in the world does accrual or cash accounting impact your books? We’re gonna break it all down for you. Your accounting software […]
Tilney Smith & Williamson AUM falls £1.9bn in Q1
Wealth manager and Financial Planner Tilney Smith & Williamson – soon to rebrand – said Assets Under Management fell by £1.9bn in the first quarter of this year, “reflecting more challenging recent market conditions.” Despite the fall Tilney said the business, due to be rebranded as Evelyn Partners this summer, performed well in Q1 against […]
Brown Shipley owner hires new group CEO as Stott exits
Quintet Private Bank, the owner of Financial Planner and wealth manager Brown Shipley, has appointed experienced HSBC executive Chris Allen to be its new group CEO. He will replace Jakob Stott who has decided to step down and will leave the firm following a brief transition. Mr Allen has 30 years of experience in financial […]
Kingswood buys Lincolnshire IFA for £421,000
Fast growing Financial Planning and wealth management firm Kingswood is to acquire Lincolnshire IFA Vincent & Co for up to £421,000. Kingswood will pay up to £421,000 over a two-year period with £211,000 paid on completion of the deal and the balance on a deferred basis. The deal is Kingswood’s fifth acquisition this year. Privately-owned Vincent […]
Mattioli wealth arm acquires £80m Financial Planner
Ludlow Wealth Management, a subsidiary of wealth manager and SIPP provider Mattioli Woods, has acquired £80m AUM Glasgow Financial Planner Ferguson Financial Management in a deal worth up to £1.2m. Ludlow is also planning further acquisitions. Ludlow will pay an initial sum of £0.6 million for Ferguson and a potential further sum of up to £0.6 […]
Evaluating Retirement Spending Risk: Monte Carlo Vs Historical Simulations
Financial advisors often rely on software that uses Monte Carlo simulations to incorporate uncertainty into their retirement income analysis for clients. While Monte Carlo analysis can be a useful tool to examine multiple iterations of potential market returns to forecast how often a given plan may be expected to provide sufficient income for the client […]
Arbitrator rejects union appeal for FCA recognition
The Central Arbitration Committee has rejected an application from union Unite to be recognised as the union for Financial Conduct Authority employees. Recognition would have given the union the authority to conduct collective bargaining on behalf of FCA staff. The CAC rejected Unite’s request on the basis that only 15% of FCA staff were in […]
9 in 10 SIPP millionaires are male
Nine in 10 SIPP millionaires investing with Hargreaves Lansdown are men, underlining the gender pension gap, according to new research. The median age for SIPP millionaires is 62, according to Hargreaves Lansdown which analysed its data from its 3,166 SIPP millionaires. When asked how they got to the million pound point with their SIPP, the most popular […]