Quilter has today confirmed it’s £46.2m deal for subsidiary Intrinsic to buy national firm Lighthouse has been completed. Lighthouse chief executive Malcolm Streatfield will report to Intrinsic chief executive Andy Thompson (pictured) effective immediately. Around 400 advisers will join Quilter’s ranks from Lighthouse, taking the total number of advisers within the network to 3,900 – […]
National advice network Tenet Group has acquired a Preston-based advice firm, adding to its existing hub in the North West. Colin Galbraith Independent Financial Services joins Derbyshire Booth, purchased in April, and Elementum Ltd, acquired in October last year- both also based in Preston. Principal, Colin Galbraith, has been a Tenet network member since 1995. […]
With regulatory pressure growing, advice firms need to remain vigilant It is the most complex and high-risk financial advice you can give, and it can result in serious and irreversible consequences for clients. So it is no wonder the bar is set so high for advisers to demonstrate the suitability of any recommendation to transfer […]
Advice firm consolidator Fairstone has followed up on its Leicester acquisition three weeks ago with the purchase of another Leicester-based firm, Bankfield Financial Advisers. Fairstone has also acquired Devon-based South West Financial Planning. The two purchases through the consolidator’s downstream buy-out model follow that of Brett & Randall Financial Services at the start of May. […]
National advice network Tenet has signed up Tatton Asset Management to run a managed portfolio service for its appointed representatives and directly authorised advisers. Tenet had previously decided to remove its own centrally supported model portfolios in early 2020. Tenet chief executive Mark Scanlon says the three-year contract does not impact advisers’ independence: “We remain […]
National advice firm Continuum has merged with Cumbria-based IFA Gary Charlesworth. Continuum director Martin Brown says Charlesworth joins as a partner: “We do not acquire businesses, no money has changed hands.” “Gary has become partner in our business and brought his clients with him. As a partner he has a stake in Continuum, should any […]
IFA consolidator Perspective Financial Group has made its first acquisition in London. The Group has bought south east London firm Thornton Springer Financial Services LLP. The purchase is Perspective’s 34th since the group was launched in 2008 and brings its number of offices across the UK to fifteen. Thornton Springer Financial Services was originally part […]
Lighthouse shareholders have approved Quilter’s £46m bid to buy the advice firm. Of the 75 per cent of shareholders voting, 92.38 per cent voted in favour. The result exceeded the majority of shareholder votes needed in order for the resolution to be passed and the deal to progress. According to a Lighthouse notice to the […]
Succession planning and staff retention among benefits on offer to firms taking time to mentor Between client meetings, office administration and keeping up with professional development requirements, it can often seem as though there are not enough hours in an adviser’s day to get everything done. Many IFAs might then wonder where they would ever […]
Many years ago, I watched a film about how the farming industry had manipulated the public over many decades to buy its products regardless of consequence. A speaker in it asked an audience how many had been brought up by their parents to believe that cows’ milk was good for them and gave them strong […]
Aegon head of UK retail marketing and communications Stephen Wynne-Jones will depart his role at the end of March. Aegon confirmed the departure of the financial services communications specialist to Money Marketing today. Wynne-Jones has headed up marketing and communications for financial advisers at the provider for two years and was formerly head of corporate […]
Wealth manager Charles Stanley has hired ex-Quilter director John Porteous as group head of distribution. It is a newly created role at the company and will see Porteous (pictured) take on responsibility for developing overall distribution strategy for services and products and inputting into overall proposition development. Porteous will join the Charles Stanley’s executive committee […]
London’s access to wealthy clients and location can mean setting up a firm comes at a cost The capital city may not really be paved with gold, but it has more than its fair share of wealthy clients for advisers to service. Known as a place where people’s careers and businesses can thrive on the […]
Tips to help advisers move the client focus away from price and more towards value Mifid II ex-post charges disclosure means advisers must state explicitly the effect their fees have on clients’ investment returns, which could raise some uncomfortable questions. The trouble a lot of advisers are facing is the perception of need. In the […]
New research explores how advisers are using their time and what can be learned from the most efficient While every adviser has certain processes and practices which are entirely their own, there are a number of things each has in common: a desire to find the best possible outcomes for clients, concerns about the impact […]
Reassessing fees on portfolios can identify savings or show clients they are getting good value I received my annual ex-post costs and charges disclosure statement from the discretionary fund manager that oversees my Sipp investments last week. It is the first such statement to arrive. As someone still close to the retail investment market, I […]
How to make the vital roles of information gathering, charges comparison and thorough research less time-consuming and more enjoyable In my last article for Money Marketing, I looked at how paraplanners can take suitability reports to the next level. But what happens before that stage? Getting the information needed, accurately comparing charges and undertaking thorough […]
Talk of consolidation has been rampant for the past year and there is no question it has made a dramatic impact on how the industry looks today. But I think we are now approaching the end of this round of amalgamation. Looking at the Financial Times’ list of the top 100 advice firms and focusing […]
The happiest firms are the most successful. Follow these four tips to get yours there Great business? Check. Nice office? Check. Money in the bank? Check. Great clients? Great team? No major dramas (if you exclude trying to get professional indemnity cover)? Check, check, check. What on earth could go wrong? Well, actually, quite a […]
A plan of action for getting one of a firm’s most challenging periods right Succession planning is one of the major issues within our profession. As the founding owners of firms approach the latter stages of their careers, the thorny issue of “what next?” looms large. Last year, I attended a fantastic session at a […]
A period of poor health could cause headaches for smaller firms. Here, four experts reveal how they maintain business continuity Clients who are advised by firms in a network often have the assurance that a planner will always be on hand if theirs is unavailable. But what about firms where there might not be another […]
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Important points to consider when evaluating the suitability of a buyer and comparing offers Much has been written about what buyers are looking for in advice firms, what due diligence is likely to be required and how to prepare for a sale. But much less is said about being on the other side of the […]
I heard an oxymoronic gem from a fellow Gooner in Azerbaijan last week ahead of the Europa League final. “Keep your wits about you, lads,” he said. “The police here will just grab you and throw you in the cells. They don’t take no prisoners!” The fan’s concern for his compatriots was great but his articulation […]
People who change the world aren’t necessarily the ones with the most talent. They aren’t even the ones that practice the most. The people who change the world see what others don’t. The connection economy isn’t driven by talent the way the industrial economy was. What we value now is the bravery needed to develop […]
Last month, star manager Terry Smith announced he was throwing £25m of his own money behind a new investment trust, Smithson. Ahead of its launch, Money Marketing editor Justin Cash sat down with Simon Barnard and Will Morgan, the fund’s managers, to talk strategy, as well as their thoughts on some of the hottest topics […]
PFS chief executive Keith Richards, Threesixty managing director Russell Facer and financial planner Susan Hill sit down with Money Marketing editor Justin Cash to discuss what’s wrong with the FSCS, and how it can be reformed.
Catch up with last week’s Money Marketing debate on what Labour would mean for financial planners with former pensions minister Steve Webb and three leading advisers.
FSCS levies are one of the biggest bills advisers have to pay. But how are they calculated? Watch our video to find out Advisers slam levy increases as FSCS bills hit desks Solving the FSCS’ long list of problems FSCS chief executive Mark Neale’s blog
Old assumptions on the traditional link between emerging market debt and the greenback are being challenged, writes Liam Spillane, Head of Emerging Market Debt at Aviva Investors. For investors, it can be tempting to rely on established relationships in markets. In the last decade, for instance, market rallies have often been a function of central […]
Trevor Greetham, Head of Multi Asset, shares his latest update on the positioning of our Global Multi Asset Portfolios (GMAPs), as we fast approach the longest business cycle expansion in US history. At this late stage of the cycle, Trevor sees a fairly balanced picture, highlighting both positives and negatives. Watch the video Past performance […]
Nersen Pillay, Investment Director within Royal London Asset Management’s multi asset team provides an update on the latest positioning of the Royal London Global Multi Asset Portfolios (GMAPs). Read the blog Past performance is no guide to the future. The value of investments and the income from them is not guaranteed and may go down […]