Jeremy Gibson

Investec Wealth & Investment UK’s Core range is now available to include in the comparison, due diligence and suitability exercises you run in Analyser. Find out more here -> https://lnkd.in/gSXWJ5Sv #duediligence #suitability #MPS #financialplanning #paraplanning

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There will be an increasing trend of mergers and acquisitions in the IFA and wealth management sector over the next five years, as smaller companies find it harder to compete and costs increase, according to new research from wealth manager Investec Wealth & Investment UK (UK) with financial advisers and financial planners across the UK. Read more below:

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Wondering how we drive evolution at Investec? We listen to our partners and foster strategic partnerships. In our latest podcast, Osian Rees, Head of Premium Finance, shares how our collaborative approach and commitment to integrity helps us meet our partners' true needs. https://lnkd.in/dfTPajHx #CommercialBroker #PremiumFinance

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Next week, Thursday 16 May, Real Deals will be hosting an exclusive Breakfast Briefing A Second Act: Unlocking the true potential of a continuation fund, in partnership with Investec. When: Thursday 16 May 2024 | 08:30 – 11:00 (BST) Where: Mayfair, London Register your interest here: https://lnkd.in/eT6iGdyq? With the exit environment remaining sluggish, continuation funds have emerged as a favoured exit strategy for GPs. These funds not only provide a lifeline in challenging market environments but also cater to the sophisticated strategies of HNWIs and general partners aiming for well-timed exits and targeted investment approaches. #fundmanagers #gp #gps #exits #continuationfunds #HNWIs #valuecreation

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Inflows have turned positive at Investec Wealth & Investment after a sustained period of outflows, with Peel Hunt saying Rathbones is looking like a "compelling" play in a structurally growing market #Investec #Rathbones #profits #synergies #marketconfidence #assetmanagement #ValentineThomas https://lnkd.in/eAa-m9SS

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This should be required reading for investors. Kudos to Caroline Escott and Chris Hodge. Audit underpins market integrity, yet there is strong evidence that it is failing. The US regulator’s latest inspections bring this to life (https://lnkd.in/eVxwrhkZ): 34% of reviewed audits by six global firms lacked evidence to support their opinions. High rates of audit deficiencies are repeated globally (International Forum of Independent Audit Regulators (IFIAR). Two points I’d highlight on the back of this report: 1. Investors should use their votes Of the steps that Railpen points to, one that investors can immediately action is their vote. Despite audit failings, investors keep reappointing auditors and audit committees. Auditors in the UK received an average 99% support in 2023. In the US, the figure was 98%. Investor indifference permits poor audit quality. Please see my article on the need for robust voting: https://lnkd.in/epsep6WK 2. Poor audit quality is a risk to capital protection One insidious consequence of audit weakness is not getting the attention it should. Auditors appear to be failing to check company compliance with capital maintenance rules, opening the door to over-distribution, weaker capital buffers and heightened risk of failure. Auditors generally have a role in policing capital maintenance rules (not the same as accounting standards – https://lnkd.in/eWzBy3_7). Critically, companies generally mustn’t distribute (i.e. pay dividends / share buybacks) out of unrealised (e.g. mark-to-market) gains. It is not clear, however, that this is being enforced. This was a key conclusion of the UK’s BEIS Select Committee 2019 inquiry into audit (https://lnkd.in/e8vqGGBd), chaired by Rt Hon Rachel Reeves, now Chancellor. The Committee called for urgent action to enforce capital maintenance rules. Recent research by Andy Haldane (https://lnkd.in/ecqct3Tj) and Adam Leaver (https://lnkd.in/ev43tNP6) underlines ongoing problems of overdistribution. As the UK advances its Audit and Corporate Governance Reform Bill, it should return to the Select Committee’s original proposals. Companies should publish in full their distributable reserves and a breakdown of their unrealised and realised profits, taking away the veil which can enable over-distribution. Auditors should be held accountable for ensuring this is done. Of the options on the table to boost growth, this has the advantage of being fiscally neutral. For their part, investors should start holding auditors and audit committees accountable for capital maintenance.

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ISM Mfg prints at 48.4 and beats consensus but still in contraction territory and close to the 1yr average. Employment and new orders looking better, with some of the policy uncertainty noted in the previous month dissipating. Still think a moderation in 4Q non-residential fixed investments is plausible but this report is overall more upbeat than the previous one, noting some pent-up demand and possibly some front loading in preparation of the enacting of tariffs by the new administration. Rates are selling off but most of the move relative to Fri close has been pre-release. This is a heavy week with plenty of Fed speak, so more fun to come.

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Swing pricing kicks in to mitigate fund transaction costs 🏌️ Anti-dilution mechanisms are built into funds to protect investors from ‘diluted’ returns, but why is swing pricing considered the most effective? AJ Bell Investments’ Head of Product, Richard Slattery-Vickers, sheds light on fund transaction costs in his latest article https://lnkd.in/eAZAf_TB

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📢 Last chance to register! Budgeting season is upon us and so is the pressure for Asset Managers to maximise their 2025 budget allocations. In today’s rapidly evolving financial landscape, asset managers face increasing pressures from the rising costs of fund distribution. Join us on 16 October at 10:00 BST / 11:00 CEST for our webinar “Managing fund distribution costs and client book of record“ where our experts Marina Corghenci, Olivier GNOS and Steffen Ahlers will explore actionable strategies to streamline your processes while protecting your margins. We’re excited to feature Begoña Michelena, Head of Client Service at Edmond de Rothschild Asset Management, in a fireside chat where she will share insights that can significantly impact your operations and profitability! ➡️Don't miss out, register now: https://hubs.ly/Q02TdCXT0 #Webinar #AssetManagement #OperationalEfficiency #ClientBookOfRecord

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In this week's highlights from companies on the Aquis Stock Exchange: 🌱 Ananda Developments Plc has moved to the Apex segment of the Aquis Stock Exchange Growth Market. The Apex segment is for larger, more established businesses with a proven growth strategy and high standards of corporate governance.   ✅ Oberon Investments Ltd. announced that it has conditionally raised approximately £2.5m before expenses through a conditional placing.   🥂 IntelliAM announced an extension to an existing agreement with a global leader in alcoholic beverages through its consulting division, reported to be valued at a minimum of £100k per annum over the next two years. https://lnkd.in/eWtkVp93 #growthcompanies

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Why are investors moving away from momentum driven large cap companies? Join Premier Miton’s Ian Rees, Head of Multi Manager Funds, and MPS Investment Director Chris Robinson, CFA, as they provide an update on the Managed Portfolio Service. They provide a market update and discuss what could be in store for investors over the coming months. https://lnkd.in/eaftgCVz For investment professionals only. Capital at risk. #investing #multiasset #multimanager #talkingmarkets #managedportfolioservice #MPS

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In his latest macro update, Kevin Boscher, our Managing Director in Jersey and Group CIO, focuses on the positives as he explains why now is a good time to invest. Read the full update: https://lnkd.in/dz6nYmtS #MarketAnalysis #InvestmentOpportunity

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Knock, knock. We are back with our A to Z bond directory! Through this series of posts, we at ALT Investor break down the otherwise complex looking alternative investments terminologies into simple definitions, coupled with an easy example to further help you understand it more clearly. This time, we have simplified the term 'Zero Coupon Bonds (ZCBs)'. Yes, the term itself hints at what these bonds do! Let us know in the comments if you have invested in ZCBs, or there's any specific term you want us to simplify in the upcoming posts in this series. #bonds #zcb #zerocouponbonds #atozbonddirectory #alternativeinvestments

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