UK retail savers took £24.4bn out of investment funds in 2023, according to the latest data from the Investment Association. This is only the second year that an annual outflow has been recorded, with 2022 seeing outflows of £26.9bn. Retail fund sales could fall even further this year, with January seeing net retail outflows of […]

The Financial Services Institute continues to push for a return to a Trump Administration rule it contends offered clarity in employment questions.

Chancellor Jeremy Hunt has announced a cut to employees’ National Insurance from 10% to 8% from April as one of a raft of measures announced in his Spring Budget today. The Chancellor cut NI before in his Autumn Statement with the new rate taking effect from 6 January. The NI cut announced today will put […]

Wealth manager and Financial Planner Evelyn Partners has appointed Chartered Financial Planner Mickey Armstrong as a Financial Planner in its Knutsford, Cheshire office, recruiting him from a Dubai firm. The appointment is part of the firm’s continued North West expansion, it said. Mr Armstrong joins Evelyn from AES International in Dubai where he worked as a Chartered […]

It’s not just good for the planet — socially conscious funds have earned solid returns over the past 10 years. Here are the highest performers.

It’s been a torrid week for wealth manager St James’s Place and senior figures could be forgiven for reaching for the Scotch this weekend. Trebles I suspect. The shock announcement the firm would set aside £426m to deal with potential client refunds of ongoing fees, where the promised service may not have been delivered, shook […]

A lawyer says the industry has been on notice at least since the “Boom Boom Room” scandal of the 1980s that hostile workplaces won’t be tolerated.

Robin Forster, the director of a Ponzi-style unlawful and unauthorised care home investment scheme which saw investors lost £57m, has been banned for 14 years. Mr Forster, 42, was the director of companies which took £57m from investors by convincing them to invest in an unauthorised care home investment scheme. He also deprived creditors of […]

An industry report finds the largest independent brokerage, with its supported independence offering, had the biggest net headcount gain last year.

The £126bn Prudential with profits fund is set to share £3.5bn with more than 2m of its policyholders, owner M&G Wealth has revealed. The with profits fund is believed to be the largest fund of its kind in the UK. Its main asset pool returned 4.3% over the 12 months to the end of 2023 […]