‘Consolidators’ have become a thing in our business in the last few years. These are firms with a cache of (usually borrowed) funds, buying up smaller advisers’ businesses to build big, national businesses. The theory/spin is that this will lead to greater security for clients, economies of scale, continuity of service etc. Thing is, it’s all been tried before, many times and the reality is a cumbersome giant with a big turnover of advisers which becomes a target for the regulators and a compliance nightmare. What’s the answer? In this case, sell out while you can to a Cayman Islands company owned by a Chicago-based private equity firm. Who I’m sure will have every client’s best interests at heart.
“Reeves backs down on plans to cut ISA limit”
So it looks as though Cash ISAs are safe for the moment (FTM – is that a thing?) Rachel has apparently ‘bowed to pressure’ from the banks and building societies and decided not to reduce the allowance to £4,000 for cash and to keep the £20,000 parity with Stocks and Shares ISAs. Bowed also to common sense, I’d say.
