Money Marketing’s Weekly Must-Reads: Top 10 Stories
This week’s top stories highlight key developments in the financial advice sector. Headlining the list: State pension moves ‘perilously close’ to personal allowance threshold, and FCA suspends Hargreaves Lansdown shares from trading.
State pension moves ‘perilously close’ to personal allowance threshold
Experts warned that from 2027, around 12 million people might pay tax on their state pension, as increases push it above the frozen personal allowance threshold.
The state pension was projected to exceed this threshold by 2027/28, potentially triggering tax bills for pensioners with no other income. Concerns arose over the administrative burden and potential anxiety among pensioners.
Experts debated whether adjusting the threshold or modifying the triple lock would be necessary to prevent future taxation issues and ensure policy sustainability.
FCA suspends Hargreaves Lansdown shares from trading
The FCA suspended Hargreaves Lansdown shares from trading before its delisting from the London Stock Exchange on 25 March.
This followed the £5.4bn takeover by a private equity-backed consortium, including CVC, Nordic Capital, and an Abu Dhabi Investment Authority subsidiary. After rejecting earlier bids, the board accepted an offer of 1,140p per share. CFO Amy Stirling resigned but remained until a successor was appointed.
The suspension was requested by the company and announced on 24 March.
Relief as Reeves makes no changes to Cash Isas
Chancellor Rachel Reeves made no changes to Cash Isas in her 26 March Spring Statement but did not rule out future reforms.
Rumours suggested she might cut the annual allowance from £20,000 to £4,000. TISA’s Carol Knight welcomed the decision, stressing the need for better financial guidance. Research showed many feared a cut would harm their ability to save.
While some argued lower allowances could boost investment, critics warned it might discourage saving. Nearly eight million people use Cash Isas yearly.
Evelyn Partners to complete the sale of professional services business
Evelyn Partners completed the sale of its professional services business to Apax Partners-advised funds on 31 March.
This created two standalone firms: Evelyn Partners, focusing on wealth management, and S&W, now a top ten UK accountancy firm. Andrew Wilkes became S&W’s CEO, while Andrew Baddeley became CFO. Evelyn Partners CEO Paul Geddes called the sale a major milestone, emphasising a continued strong relationship between the businesses.
Both firms aimed to pursue growth while maintaining service continuity for clients.
Trump and Truss: A tale of two economic disasters
Trevor Greetham compared Donald Trump’s recent economic policies to Liz Truss’s short-lived UK premiership, noting striking similarities.
Both pursued deregulation, tax cuts, and state reduction while dismissing institutional concerns. However, Truss faced bond market turmoil, forcing her resignation, whereas Trump’s policies have mainly hurt stocks. Despite market volatility and recession fears, Trump retains strong support.
Greetham suggested that unless bond markets react negatively, significant policy shifts are unlikely. He advised a cautious investment approach, favouring diversification over US stocks.
Former Schroders head of UK to join SJP as CEO of wealth management
James Rainbow, former head of UK at Schroders, joined St James’s Place (SJP) as CEO of wealth management, a newly created position.
Rainbow, who left Schroders in November 2024 after nearly 18 years, began his new role on 1 April 2025. At Schroders, he held various leadership positions, including CEO of Schroders Personal Wealth and co-head of UK intermediary.
Rainbow expressed his passion for financial advice, recognising its life-changing impact and emphasising the importance of the advice profession.
Time4Advice founders to retire as Richard Brian steps into leadership role
Time4Advice co-founders Mitchell Philpott and Roland Rawicz-Szczerbo announced their retirement, effective 30 April 2025.
Richard Brian, the current technical director, was appointed managing director of CURO, effective 31 March 2025. Brian, with extensive experience in Microsoft-based software, will lead the company into its next phase, focusing on deepening its integration with IntegraFin Group.
Philpott and Rawicz-Szczerbo, who founded Time4Advice in 2010, expressed pride in the company’s growth and confidence in Brian’s leadership for future success.
Wealthtime signs deal with Wipro to deliver next generation platform
Wealthtime signed a 10-year deal with Wipro to develop a next-generation platform, aiming to modernise and automate its operations.
The partnership, first announced in October 2024, will leverage Wipro’s business process outsourcing (BPO) and AI expertise to enhance the user experience. GBST will continue providing core technology, with annual updates planned.
Wealthtime CEO Patrick Mill described the deal as a significant milestone, enabling scalable improvements and transformation to better serve advisers and clients in a rapidly changing financial landscape.
Phoenix Group appoints Wipro as partner for ReAssure platform
Phoenix Group appointed Wipro as a strategic partner through a Business Process Outsourcing (BPO) agreement to manage the ALPHA platform used by ReAssure.
This move aimed to accelerate and simplify the ReAssure Transformation programme, with Wipro committing to invest in the platform for enhanced customer experience. Phoenix Group CEO Andy Briggs welcomed the partnership, highlighting its role in supporting their customer experience ambitions.
The deal complements Phoenix’s ongoing partnership with TCS Diligenta, which remains essential for their broader transformation.
How Gen Z is changing the face of wealth management
The “great wealth transfer” is poised to see Baby Boomers pass $18.3tn globally by 2030 to younger generations.
Gen Z, in particular, is reshaping wealth management by prioritising sustainable investing while demanding strong returns. Wealth managers must adapt by offering digital engagement, sustainable strategies, and personalised services.
Advisors who build trust early and engage through education, mentorship, and tailored advice will retain assets. Those who fail to evolve risk losing relevance in an increasingly competitive and purpose-driven market.
