Money Marketing’s Weekly Must-Reads: Top 10 Stories
This week’s must-reads explore the latest forces reshaping the financial advice landscape — from Standard Life testing over 24 AI concepts to HMRC’s move to cut IHT relief on AIM shares, aiming to raise £110m annually.
HMRC to raise at least £110m annually by cutting IHT relief on AIM shares
Following the October 2024 Budget, HMRC halved the inheritance tax (IHT) relief on AIM shares, aiming to raise at least £110m annually from April 2026. The FTSE AIM 100 fell 18% since the announcement. Critics, including TWM Solicitors, warned the move could harm UK growth companies and deter retail investors. The AIM market, launched in 1995, has raised over £130bn for nearly 4,000 companies through public investment.
Standard Life exploring more than 24 artificial intelligence concepts
Standard Life explored over 24 artificial intelligence concepts across its business, from streamlining secure messaging to educating staff on customer vulnerabilities. These initiatives followed a discovery-alpha-beta-live model, with staff often testing prototypes. Head of digital Andy Young highlighted the use of machine learning for personalised communications and the potential of generative AI to enhance customer service. He envisioned voice-assisted AI as a future tool to boost engagement and accessibility in financial services.
Evelyn Partners brings in new chief financial officer
Evelyn Partners appointed Alex Gersh as its new chief financial officer and executive director, pending regulatory approval. Gersh, a seasoned CFO with over 30 years’ experience, was set to join at the end of April, succeeding Andrew Baddeley. He previously held senior roles at Paysafe, Sportradar, and Flutter. CEO Paul Geddes praised Gersh’s expertise and thanked interim CFO Scott Kirk for his leadership during a period of significant strategic transformation.
Marlborough launches bespoke service for advisers’ HNW clients
Marlborough launched a bespoke portfolio service for financial advisers’ high-net-worth clients, led by Edward Kennedy, who joined as head of bespoke discretionary fund management in 2024. The Personal Portfolio service also targeted charities and trustees, offering tailored investment management. Kennedy, formerly of Credit Suisse and Morgan Stanley, was supported by Rory Dowie. The service complemented Marlborough’s broader adviser proposition, aligning with Consumer Duty requirements and focusing on strong adviser-client partnerships.
Protection advisers should see ongoing advice review as an opportunity
The Financial Conduct Authority’s review of ongoing advice challenged protection and mortgage advisers to move beyond transactional models. Stephanie Hydon urged advisers to see it as a growth opportunity, encouraging deeper client relationships, regular protection reassessments, and tech-driven engagement. With shifting client demographics and Consumer Duty pressures, advisers were advised to revisit past clients, highlight value-added benefits, and embrace technology to deliver ongoing advice and long-term value across their client base.
Exclusive: Wealthtime CFO James Slade heads for the exit
James Slade stepped down as chief financial officer of Wealthtime after four years, having joined the private equity-backed firm in 2021 from Brightside Group. His exit followed a series of senior departures, including heads of compliance, sales, and risk. Iain Jamieson replaced him as Group CFO of Quanta Group, bringing M&A expertise. Wealthtime denied rumours of Lucy Bristow’s departure and reaffirmed its commitment to growth under the evolving Quanta model.
Shackleton creates personal injury and court of protection arm with latest purchase
Shackleton launched a personal injury and court of protection division following its acquisition of IM Asset Management and financial planning firm TWP Wealth, pending FCA approval. The new arm aimed to support clients with life-changing injuries through tailored advice. The deal added 20 advisers, £1.4bn in client assets, and expanded Shackleton’s reach in Yorkshire and the Northwest. CEO Stewart Sanderson and 88 staff joined Shackleton, furthering its strategic national growth.
Is ESG dead? Not quite – but it is having a midlife crisis
ESG investing lost momentum as media attention waned and performance concerns rose, particularly amid U.S. backlash. Investors prioritised returns, and inconsistent ESG ratings undermined trust. Younger generations showed interest, but lacked capital to drive change. Debate grew over including defence stocks, especially technologies aligned with ESG values. Despite its midlife crisis, ESG was not dead—just in need of clearer definitions, better frameworks, and conviction-led strategies to stay relevant and impactful.
AJ Bell platform business sees ‘record’ AUA and increases number of advised clients
AJ Bell’s platform business reached record assets under administration of £90.4bn in Q1 2025, up 13% year-on-year. The firm added 32,000 customers, bringing the total to 593,000. Advised client numbers rose 7% and D2C clients 23%. Net inflows hit £1.9bn, up 19% from 2024. AJ Bell Investments’ assets under management climbed 29% to £7.5bn. CEO Michael Summersgill credited growth to strong service, low costs, and dual-channel platform strength.
Another record year for IHT receipts as Treasury collects £8.2bn
From April 2024 to March 2025, the Treasury collected a record £8.2bn in inheritance tax, £800m more than the previous year. Experts attributed the rise to frozen nil-rate bands and looming pension inclusion from April 2027. Capital gains tax receipts fell slightly to £13bn, while income tax and NICs rose to £486.9bn. Analysts warned the tax burden would keep increasing without reforms and emphasised the importance of expert financial planning.
