Platform and SIPP provider AJ Bell saw £1.9bn in outflows in its quarter ending 31 March despite customer numbers topping 500,000 for the first time, it reported today.

Abu Dhabi-based IFA Hoxton Capital Management has added over 380 clients with the acquisition of two UK-based Financial Planning firms.

The valuation of independent financial advice businesses has dropped from an average of 4 times recurring income in 2022 to 3.3 times recurring income for the first quarter of 2024, according to a new study.

There was a last-minute surge of activity from SIPP investors at the end of the tax year as they used the week after the Easter bank holiday to max their annual allowances.

CPI inflation fell from 3.4% in February to 3.2% in March, its lowest level for two and a half years, according to ONS figures published today.

Wealth manager and Financial Planner Brooks Macdonald continued to see outflows for the quarter ended 31 March as investors pulled out money.

Expanding wealth manager and Financial Planner Titan Wealth has completed its second acquisition this week with a deal to buy Bristol-based 45-adviser firm Aspira, boosting Titan’s assets under management and advice to over £17.3bn.

Almost £2bn has been lost from UK pension pots and SIPPs since 2019 because of financial advisers and providers going out of business, according to new data from the Financial Services Compensation Scheme.

Quintet Private Bank, the Luxembourg owner of UK Financial Planner and wealth manager Brown Shipley, has partnered with asset manager BlackRock to launch an actively managed US equity fund.

Swedish wealth manager Söderberg & Partners has invested in four more IFA firms as it expands its financial advice presence in the UK.