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Clone groans and Budget gags: The Wells Street Journal

A weekly account of the curious goings-on in the world of financial services

Company clone groan

WSJ thinks that if anyone is going to go to the effort of cloning a financial services firm, the absolute least they could do is get their spelling right.

Last week, the FCA raised an alert over a clone version of London-headquartered Seven Investment Management, also known as 7IM.

Fraudsters purporting to be 7IM used the name Seveninvest Management Limited and claimed to be based at 56 Bishopsgate in central London. 7IM is in fact based at 55 Bishopsgate in a very nice office this WSJ correspondent visited not too long ago. WSJ feels that choosing a false address just one number different to 7IM’s real one is about as clever as using your birth year as a debit card Pin.

The lighter side of the Budget

WSJ well knows that one of the best ways to unwind from the Budget is to jump on Twitter to see who has been utilising the hashtag #BudgetLols.

Chancellor Philip Hammond set the mood well yesterday with a host of bathroom-related jokes running on from news that local authorities will be able to “relieve themselves” thanks to new business rates relief for public toilets.

The BudgetLols hashtag did not link much in the way of good content this time around, however. Many tweeters described waiting for the Budget to unfold as “taxing”, while some also poked fun at Hammond’s stabs at lightening the mood before delivering his divvying up of duty freezes on alcohol. Tax on wine will still rise alongside inflation next year, meaning punters will pay 7p more per bottle. This is sad news indeed for the wine aficionados within the Money Marketing editorial team, but everything happens for a riesling…

Out of context

‘Moderately talented firms will have to go back to marginality now’

Wingate Financial Planning’s Alistair Cunningham thinks that the Quilter platform’s good results were fun while they lasted

‘Smoother than a baby’s bottom covered in Johnson’s baby oil…’

Yellowtail Financial Planning’s Dennis Hall takes to Twitter to praise a new pinot noir

‘Some of my star bunnies have escaped a little early’

Chancellor Philip Hammond laments the early announcement of some positive Budget news in June

Separated at birth

Serenity Financial Planning financial planner Tony McMenamin

Scottish actor John Hannah

Send your suggestions to @mm_wsj.

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