Good morning and welcome to your Morning Briefing for Friday 30 August 2024. To get this in your inbox every morning click here.
AHR Group first firm in the Middle East to receive IPPF status
AHR Group has become the first and only international financial advice firm in the Middle East and Central South Asia regions to receive International Professional Partner Firm (IPPF) recognition from the CII (Chartered Insurance Institute).
In order to receive IPPF recognition, a firm must “commit to upholding professional standards, ensuring competence, integrity and care of clients”, which AHR states is embodied in its philosophy.
IPPFs are organisations who have committed to fully support their employees in their attainment of high-level industry qualifications and their ongoing continued professional development, as well as those “who uphold the CII’s values and ethics”.
Are women about to take control of global wealth?
As we look towards the future of finance, one question looms large: is a revolution coming? Are women on the verge of taking control of global wealth?
With an estimated $30trn set to transfer to women over the next few decades, women have the potential to dramatically reshape the financial services and investment landscape. Yet, despite this impending shift, women still face formidable barriers when it comes to managing their wealth.
Addressing the gender investment gap will be crucial to unlocking women’s full potential as investors, writes Brooks Macdonald group head of corporate communications Claire Barker.
Quote Of The Day
The FTSE 100 creeps ever closer to its all-time high, after opening 0.3% higher in early trading. It’s a stark reminder that panicking doesn’t do investors any favours, after the global sell-off earlier in the month has largely been brushed aside
– Hargreaves Lansdown senior equity analyst Matt Britzman comments on the FTSE 100
Stat Attack
Canada Life research based on 2,000 UK adults has found that discussing inheritance is a big taboo.
56%
who received an inheritance sum over the past five years did not discuss its value with the benefactor beforehand.
17%
of UK adults have received an inheritance within the last five years, at an average value of £35,000.
12%
of those who have received an inheritance sum knew the exact amount they would receive.
31%
said they received more than they were expecting, and 26% received less.
33%
said they have or will put the inheritance into a savings account.
Source: Canada Life
In Other News
Octopus Ventures, part of Octopus Group, has announced a new fund-management structure for the Venture Capital Trusts (VCTs) it manages that invest into unquoted companies.
Richard Court has been appointed as head of VCTs and Enterprise Investment Schemes (EIS), a new role. Court has been the lead fund manager for Apollo VCT for the past five years, and has extensive experience and a strong track record in managing VCT funds. His new role will involve oversight of all investments into unquoted companies from Octopus VCTs, including Octopus Titan VCT, Octopus Apollo VCT and Octopus Future Generations VCT.
Paul Davidson, a partner within the Octopus Ventures team, will replace Court as lead fund manager for Apollo VCT. Simon King will continue as lead fund manager of Octopus Future Generations VCT. There will be no changes to the Octopus AIM VCTs.
As part of this, Jo Oliver has stepped back from his interim role as strategy adviser to the Board and lead fund manager of Octopus Titan VCT. Oliver had held this role on an interim basis since March, having previously been lead fund manager for many years. Court will oversee the appointment of a permanent fund manager for Titan VCT.
This new leadership structure will provide a strong foundation for Erin Platts ahead of her joining as Octopus Ventures CEO in January.
Italy weighs sharp tourist tax rise in furore over impact of visitors (Financial Times)
Workers could get right to four-day week (BBC)
Did You See?
Global wealth management giant St James’s Place has appointed Centrick Invest as an approved partner for its property investment activity in Hong Kong and Singapore.
Birmingham-founded Centrick Invest will present outstanding UK residential property investment opportunities to St James’s Place clients in the key Asian territories.
It will be led in Hong Kong and Singapore by John Treacy and Siôn Bennett, both of whom have considerable expertise and experience in property investment.
The wealth manager has appointed Centrick Invest to its panel as a property partner after “significant due diligence”.
The partnership will see Centrick Invest working closely to support expat and local investors throughout their property investment journey.
