Good morning and welcome to your Morning Briefing for Friday 6 June 2025. To get this in your inbox every morning click here.
FCA leads global crackdown on rogue finfluencers
The Financial Conduct Authority (FCA) has led a coordinated international crackdown on illegal financial promotions by unauthorised online influencers, known as “finfluencers”.
Nine regulators from countries, including Australia, Canada, Hong Kong, Italy, the UAE and the UK, took part in a global enforcement effort that began on 2 June.
In the UK, the FCA made three arrests in collaboration with the City of London Police, initiated criminal proceedings against three individuals and invited four others for interview.
Ben Russon: Trump, tariffs and the case for diversification
Trump’s tariffs need little introduction, writes Ben Russon, co-head, UK equities (large cap) at Martin Currie.
World leaders, central bankers, economists and business owners alike have been left scratching their heads. What will President Trump do next? What are the direct and indirect implications for companies? The questions are endless.
Quote Of The Day
Investing in Tesla isn’t for the faint of heart, and Musk’s enthusiasm for topics close to heart is both a blessing and, at times, a curse
– Derren Nathan, head of equity research, Hargreaves Lansdown, comments on the recent travails of former Trump ally Elon Musk
April was the best month for fund inflows of 2025, according to the latest stats from the Investment Association. The figures show:
£1.1bn
UK retail investors put £1.1bn into funds in April, the strongest inflows of the year to date.
£728m
were added to multi-asset funds in April.
£149m
This was up from just £149m in March.
£817m
£817m were withdrawn from UK equity funds in April.
£1.2bn
This was down from £1.2bn in March.
Source: Investment Association
In Other News
More people are managing their personal wealth through active, bespoke investment management services offered by financial advisers, and this looks set to grow over the next two years, according to new research from Rathbones.
People across an ageing UK population to save for later life, many of whom have real and mounting concern they may not have enough resources or make the right decisions to live well in retirement, the company said.
The study suggests more money is being invested in the UK and by relatively affluent people, since almost half (46%) of advisers ask for a minimum portfolio of £400,000 to qualify for bespoke services.
Moreover, over nine in ten (93%) wealth managers and financial advisers who offer a bespoke investment management service typically use it to manage no more than a quarter of a client’s wealth.
All advisers contacted said the percentage of clients’ assets they manage through a bespoke investment management service has increased since 2023, with the majority (77%) reporting an increase of up to 25%.
Those advisers who don’t currently recommend bespoke investment management services expect to do so in the next four years.
JPMorgan says it will fire analysts who accept future-dated job offers elsewhere (Financial Times)
Tesla share plunge amid Trump feud wipes $152bn off Elon Musk’s company (The Guardian)
Hong Kong’s new platform for $166bn pension faces glitches (Bloomberg)
Did You See?
The UK protection market is off to a buoyant start in 2025 with 17% year-on-year increase in Annual Premium Equivalent (APE) for the first quarter, data from iPipeline shows.
New business is also on the rise, with volumes up by around 4% compared to the same period in 2024.
The sharp increase in APE was driven largely by a 77% surge in sales of “other” types of cover.
Whole of Life policies saw a 92% increase year-on-year, likely reflecting greater demand for inheritance tax planning, iPipeline said.
