New data reveals VAT on school fees could hike costs by £75,000 April 28, 2025 The government’s policy of VAT on school fees would introduce a price hike in excess of £75,000 for families sending children to independent schools, according to new analysis by wealth manager Rathbones. According to the data, the average cost of sending a child to an independent day school for the duration of their time at [...]
City broker downgrades St James’s Place despite robust inflows April 2, 2025 RBC has downgraded St James’s Place’s target stock price, while Quilter and Rathbones both received upgrades. RBC analyst Ben Bathurst downgraded his price target on Britain’s largest wealth manager from 1,100p to 1,050p today. St James’s Place’s stock price underperformed today on the news, falling more than two per cent compared to a decline of less [...]
Rathbones chief Paul Stockton retires March 20, 2025 Rathbones group chief executive Paul Stockton is set to retire from his role after six years in the job. Stockton, who has worked at the asset manager for the last 16 years, will step down from the firm at the end of September, the company’s said today. He will be succeeded by Jonathan Sorrell who [...]
Investec expects profit bounce in full-year results March 20, 2025 Investec has said it expects adjusted operating profit to be ahead of last year’s figures, coming in as high as £956m. In a trading statement, the FTSE 250 bank and wealth manager said adjusted operating profit for the year was forecast to come in between £888m and £956m, compared to last year’s figure of £884.5m. [...]
Rathbones beats profit expectations as merger progresses February 26, 2025 Rathbones’ operating income increased to £895.9m in 2024, beating analyst expectations as the firm progressed with its merger of Investec Wealth and Investment (IW&I). The wealth manager revealed profit before tax almost doubled last year, from £57.6m to £99.6m in its full-year results. The firm’s underlying profit before tax increased from £127.1m to £227.6m, above the [...]
Saba Capital falls at first hurdle in activist trust campaign January 22, 2025 Saba Capital’s first battle over the board of a UK investment trust has failed, with investors widely rejecting its attempt to unseat the board of a targeted trust. In a shareholder vote today, 65 per cent of Herald trust shareholders voted to kill the activist hedge fund’s proposals, which aimed to depose and replace the [...]
Rathbones: Outflows subside as Investec merger progresses January 16, 2025 Rathbones has managed to turn the tide on the wave of outflows that followed its merger with Investec’s wealth arm. In a trading update published today, the wealth manager said investors pulled £200m from its platform in the final quarter of the year, down from £600m the quarter before. Despite having “particularly strong discretionary inflows”, [...]
Why these City firms will be the winners and losers of Rachel Reeves’s Budget October 28, 2024 Nervousness has gripped the City over the past month. A vacuum of fiscal policy has been filled by speculation and companies are scrambling to draw up plans ahead of a potentially punitive tax-raiding Budget from Keir Starmer and Rachel Reeves. Among the most gloomy warnings have been an inadvertent gutting of London’s junior AIM market [...]
Weak Rathbones results cause wealth manager’s stock price to dip October 17, 2024 Rathbones reported a weak three months as assets dropped by 0.1 per cent thanks to investors pulling £561m from the wealth manager. The wealth manager’s stock dropped by more than three per cent upon market open this morning following the publication of its quarterly results. Withdrawals from the business were caused by a variety of [...]
Rathbones profit skyrockets 120 per cent as Investec merger pays off July 31, 2024 Rathbones Group's underlying profit before tax skyrocketed 120 per cent in the first half of the year, after its merger with Investec W&I.