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AJ Bell sells £25m Platinum SIPP and SSAS business to InvestAcc


By Michael Griffiths

AJ Bell has agreed to sell its Platinum SIPP and SSAS business to InvestAcc for a deal worth up to £25m.

The consideration will comprise an initial £18.5m upon completion, made up of £17.5m in cash and £1m worth of new InvestAcc shares


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Advisers see surge in IHT advice demand, Downing finds

Advisers have reported a surge in demand for inheritance tax (IHT) planning advice, with new clients accounting for most of the enquiries, research by Downing has found

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Shackleton adds £200m AuM with PK Group acquisition

Independent financial adviser (IFA) and wealth management firm Shackleton has completed the acquisition of PK Group

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UK 2025 growth estimate halved to 1%, Chancellor reveals

Growth estimates for the UK in 2025 have been halved to 1% by the Office for Budget Responsibility (OBR), the Chancellor of the Exchequer, Rachel Reeves, has announced in the Spring Statement

Simplybiz appoints Tom Hegarty as CEO

Fintel has confirmed the appointment of Tom Hegarty as the new CEO of Simplybiz

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UK inflation falls to 2.8% in February

The rate of inflation in the UK slowed to 2.8% in the 12 months to February, the Office for National Statistics (ONS) has revealed.

This compares to consumer price index (CPI) inflation totalling 3% in the year to January
FTB market worth £106bn in 2024, GetAgent finds

The first-time buyer (FTB) market was valued at £106bn in 2024, driven by an increase in FTB numbers and property prices, GetAgent has found

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UK house prices increase by highest rate since February 2023

The average house price in the UK jumped by 4.9% year-on-year in January, which is the highest rate of growth in property prices since February 2023, the Office for National Statistics (ONS) has found

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Advisers see surge in IHT advice demand, Downing finds

Advisers have reported a surge in demand for inheritance tax (IHT) planning advice, with new clients accounting for most of the enquiries, research by Downing has found

IHT receipts hit new annual record a month early

The amount of inheritance tax (IHT) collected by HMRC has reached £7.6bn in the 11 months to February, surpassing the annual record with a month to spare. HMRC took the previous annual record last year, when IHT receipts totalled £7.5bn across the full 2023/24 financial year

Amount of additional rate taxpayers up 9.5%, HMRC reveals

The number of additional rate taxpayers increased by 9.5% between 2021/22 and 2022/23, HM Revenue and Customs (HMRC) has revealed

HNWIs voice concern around Labour’s tax policy

Eight in ten (83%) high net worth individuals (HNWIs) are expecting taxes to rise further in the next 12 months, a new study by Saltus has indicated

UK 2025 growth estimate halved to 1%, Chancellor reveals

Growth estimates for the UK in 2025 have been halved to 1% by the Office for Budget Responsibility (OBR), the Chancellor of the Exchequer, Rachel Reeves, has announced in the Spring Statement

FCA outlines action plan on Consumer Duty rule review

The Financial Conduct Authority (FCA) has launched an action plan in which it has outlined proposals to review its expectations for mortgages and lending, and explore how it can simplify communications about savings accounts

FCA to scrutinise fair value of pure protection market

The Financial Conduct Authority (FCA) has launched a market study into how well the distribution of pure protection insurance policies is working for customers

FCA fines and bans OAM founder

The Financial Conduct Authority (FCA) has fined the founder of Odey Asset Management (OAM) LLP, Crispin Odey, £1.8m and banned him from the UK financial services industry for a "lack of integrity"

17% of UK adults unaware of stocks and shares ISAs

Almost one in five (17%) UK adults have "never heard" of a stocks and shares ISA, while 25% of those who have heard of the investment product don’t know anything about it, The Investment Association has revealed

UK inflation falls to 2.8% in February

The rate of inflation in the UK slowed to 2.8% in the 12 months to February, the Office for National Statistics (ONS) has revealed. This compares to consumer price index (CPI) inflation totalling 3% in the year to January

Savers ‘increasingly’ switching cash to fixed rate accounts

Savers are increasingly switching cash from instant access and notice accounts to fixed rate accounts in the expectation of more Bank of England (BoE) base rate cuts, Investec Save has found

Cash ISA changes wouldn’t tempt stock market investment, study finds

One in every five cash ISA savers (20%) would switch to investing in the UK stock market if the cash ISA allowance was to be reduced or abolished

Anglo American completes combined £785m buy-in with L&G

Anglo American Services (UK) has completed a £785m combined buy-in with Legal & General Assurance Society (L&G) for three of its defined benefit (DB) schemes

Church of Scotland Pension Trustees completes £75m buy-in with Just Group

The Church of Scotland Pension Trustees has completed a £75m multi-scheme buy-in with Just Group, insuring the benefits of 1,500 pensioner and dependant members and 850 deferred members

Standard Life launches guaranteed lifetime income plan

Standard Life has furthered its strategic partnership with Fidelity International by launching the guaranteed lifetime income plan

Fuller’s DB Pension Plan agrees full buy-in with L&G

The Fuller’s Defined Benefit (DB) Pension Plan has secured a full buy-in with Legal & General (L&G), following recent funding improvements

Shackleton adds £200m AuM with PK Group acquisition

Independent financial adviser (IFA) and wealth management firm Shackleton has completed the acquisition of PK Group

AJ Bell sells £25m Platinum SIPP and SSAS business to InvestAcc

AJ Bell has agreed to sell its Platinum SIPP and SSAS business to InvestAcc for a deal worth up to £25m. The consideration will comprise an initial £18.5m upon completion, made up of £17.5m in cash and £1m worth of new InvestAcc shares

Howden set to acquire Barnett Waddingham

Global insurance and employee benefits intermediary group Howden has announced plans to acquire Barnett Waddingham for an undisclosed amount

International investors have more demand for UK property than expected

The UK property market is experiencing demand from a much wider range of international investors than is commonly assumed, RAW Capital Partners has stated

Mortgage Brain adds Gatehouse Bank to tech platforms

Tech provider Mortgage Brain has added Gatehouse Bank to its Sourcing Brain and Criteria Brain platforms

Metro Bank announces new AI partnership with Covecta

Metro Bank has launched a new partnership with Covecta, an AI platform for financial services that will be deployed across its corporate and commercial credit businesses

Octopus Money and Aveni launch new AI partnership

Octopus Money has launched a new partnership with Aveni.ai which will see the firm adopt Aveni’s AI solutions across its adviser and coaching teams

Nivo launches AI-powered assistant for specialist lenders

Nivo has launched an AI-powered product that aims to help specialist lenders grow without hiring more people

Simplybiz appoints Tom Hegarty as CEO

Fintel has confirmed the appointment of Tom Hegarty as the new CEO of Simplybiz

News in brief - 27 March 2025

Today's round up of developments coming out of the consumer finance space, featuring Saffron Building Society, Nottingham Building Society and Hargreaves Lansdown

News in brief - 26 March 2025

Today's round up of developments coming out of the consumer finance space, featuring Offa, LiveMore and Atom bank

CHL Mortgages for Intermediaries launches partnership with PRIMIS

CHL Mortgages for Intermediaries has announced a new partnership with PRIMIS Mortgage Network

BLOG: Expand the holistic solutions you can offer with Royal London Equity Release

Royal London Equity Release discusses the importance of holistic support for clients when it comes to later life lending

BLOG: The younger generation have spotted an alternative route into the housing market – and we should embrace it

Head of business development at Saffron for Intermediaries, Tony Hall, discusses how the younger generation can find their way onto the housing ladder

BLOG: Introducing eConveyancer+ | Raising the bar on communication

The latest MoneyAge blog explores eConveyancer+, a new standard in conveyancing designed to support brokers in delivering exceptional service with complete confidence

BLOG: What You Need to Know About Portfolio Landlords in 2024

Portfolio landlords – those with four or more properties - are the backbone of the private rented sector. Our latest report, Portfolio Landlord 2024, looked into who these landlords are, how they feel about their property business and their plans for expansion

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