Abrdn changes name back to Aberdeen and swings back to profit March 4, 2025 Abrdn has rounded out a bumper year with a return to profit and a total revamp of its brand. The company announced it will change its name back to Aberdeen as it begins the search for its next chairman, who will succeed Sir Douglas Flint. Group chief executive Jason Windsor said: “We are changing our [...]
Nine in ten six-figure earners say they are not wealthy February 26, 2025 An annual income of £213,000 has been declared the benchmark for ‘wealth‘ according to new research from HSBC. HSBC UK’s new report ‘Your Money’s Worth: Defining Wealth in 2025’ revealed nine in 10 high earners do not consider themselves wealthy, with only one per cent of the population identifying as so. The top four per [...]
Criticising ‘wealth hoarding boomers’ is ageist stereotype, MPs warn February 19, 2025 Criticism of older people as “wealth hoarding boomers” is a form of ageist stereotyping, a report by MPs has warned. Ageism is “widespread and culturally embedded” in the UK and discrimination laws are currently “failing” older people, the MPs have said. The Women and Equalities Committee of MPs concluded the UK has a “pervasively ageist [...]
Labour has sucked the confidence out of wealthy Brits February 13, 2025 The government defines a high net worth individual as someone with an income of at least £170,000 and net assets of more than £430,000. Such people are undoubtedly in a comfortable position, but are hardly reaching non-dom status. Indeed, those just meeting the government’s definition would be politely turned down for a bank account at [...]
Rich people’s problems: Confidence in economy hits record low among wealthy Brits February 13, 2025 Confidence in the economy among high net worth Brits has tanked since the election of a Labour government last summer, according to data from the Saltus Wealth Index. The study, which questioned 2,000 people in the UK with assets of £250,000 or more, revealed just under half – 48 per cent – of these so-called [...]
More than 10,000 millionaires have left Britain in a year – this is where they’re all going January 31, 2025 More than 10,000 millionaires left Britain last year, partly to avoid higher taxes – with many quitting for more glamorous destinations. In total Britain lost a net 10,800 millionaires in 2024, according to the New World Wealth (NWW) analytics firm, more than any other country except China. That is a rise of 157 per cent [...]
Quilter share price rises amid cash inflow spike January 22, 2025 Quilter saw a sharp increase in the amount of cash flowing into its coffers over the last year, as the wealth manager reported its assets under management shot up to £119.4bn. In a trading update, the FTSE 250 firm reported £1.8bn in new business over the last quarter, bringing its take-in for 2024 as a [...]
Private clubs and boarding schools: Abu Dhabi’s plan to attract ultra-wealthy December 10, 2024 Abu Dhabi is targeting the ultra-wealthy with private clubs, elite schools, and revamped banking, aiming at those considering leaving the UK
The truth about wealth inequality November 28, 2024 The distribution of wealth in the economy has attracted more and more attention among economists following a wealth boom that lasted for four decades. Between 1980 and 2019, British household wealth increased from three to seven-times national income, as cheap credit helped to fuel consistent rises in house prices. “For much of the past four [...]
‘Wealth the new work’: Wealth inequality ‘undermining capitalism’ November 27, 2024 “For most, your house has outvalued you this century – making wealth the new work," Parth Patel, associate director of at the IPPR, said.