Schroders Personal Wealth has appointed experienced industry leader Martin Andrew to its board as an independent non-executive director.

Andrew has over 25 years of experience in the asset and wealth management industry.

Most notably, he spent 14 years as the chief executive of Close Brothers Asset Management.

The business achieved significant growth during his tenure following a strategic refocusing on wealth management.

In 2022, Andrew founded advisory firm Gallatin.

His career also includes leadership roles at Merrill Lynch Investment Managers and McKinsey & Company.

Schroders Personal Wealth is a joint venture between Lloyds Banking Group and Schroders.

It currently has more than 300 advisers based across the UK, and manages in excess of £14.3bn of assets for around 50,000 clients.

Commenting on Andrew’s appointment, the firm’s chief executive Mark Duckworth said: “[Martin’s] extensive industry expertise and leadership in wealth management will be invaluable as we continue to grow and enhance our client-first offering.

“Since the inception of Schroders Personal Wealth, we have been committed to making high-quality financial advice more simple, affordable and accessible.

“I look forward to working with Martin as we embark on the next phase of our journey.”

Andrew added: “With a commitment to putting clients at the heart of everything it does, Schroders Personal Wealth’s dynamic and transparent business model is well-positioned to capture the ongoing growth of the UK wealth-management market.”

BARGAIN buyers have flocked to B&M after spotting a Maltesers stocking filler on sale for just 50p.

Originally up for grabs for £5, those hoping to self-indulge or gift the sweet-treat fix will want to be quick before the deal disappears from shelves.

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Perfect for sharing, the box boasts a variety of different flavours to make a warming drink during the cold winter nights.

The 90 percent saving offers customers the chance to nab a Maltersers Hot Chocolate Kit for a fraction of the original price.

Great for couples planning a romantic night in, the box holds six sachets inside.

With three Maltesers White and three Maltesers Hot Chocolate Sticks, festive fans can also decorate their hot cocoa with heart marshmallows, sprinkles and chocolate drops.

One eagle-eyed shopper has already posted a picture of the incredible find on Facebook to make sure others don’t miss out on the offer.

The post has claimed nearly 400 reactions and just under 100 comments so far.

One user replied: “Check for these next time you go pls x”

Another said: “Whoever goes first pick the other one a couple up.”

Someone else wrote: “£5 no chance 50p yes”

A fourth put: “run don’t walk.”

Another person said: “Our kids would love these.”

Those hoping to nab the sale offering might want to phone up ahead before visiting in-store to avoid disappointment and check stock levels.

For online shoppers, the kit is available but only for the £5 price which does not include the added postage fee.

Advertised on the B&M website as low in stock, shoppers should hurry if they are desperate to get hold of this deal.

Those wanting to make the most of their cash in the run up to Christmas, could keep their eyes peeled for the Black Friday sale that B&M has already launched.

With Christmas decorations starting as low as 50p as well as 50% of energy-saving gadgets, there could be something for everyone.

How to save money on chocolate

We all love a bit of chocolate from now and then, but you don’t have to break the bank buying your favourite bar.

Consumer reporter Sam Walker reveals how to cut costs…

Go own brand – if you’re not too fussed about flavour and just want to supplant your chocolate cravings, you’ll save by going for the supermarket’s own brand bars.

Shop around – if you’ve spotted your favourite variety at the supermarket, make sure you check if it’s cheaper elsewhere.

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Websites like Trolley.co.uk let you compare prices on products across all the major chains to see if you’re getting the best deal.

Look out for yellow stickers – supermarket staff put yellow, and sometimes orange and red, stickers on to products to show they’ve been reduced.

They usually do this if the product is coming to the end of its best-before date or the packaging is slightly damaged.

Buy bigger bars – most of the time, but not always, chocolate is cheaper per 100g the larger the bar.

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So if you’ve got the appetite, and you were going to buy a hefty amount of chocolate anyway, you might as well go bigger.

Chancellor Rachel Reeves’ Budget last month represents “the biggest shake-up to financial planning in a long time”, according to Quilter’s head of technical sales Roddy Munro.

Munro made the comments at the PFS Rewired conference in Manchester today (November 12).

He also warned advisers not to “underestimate the historical importance of this Budget”, particularly bringing pensions into the scope of inheritance tax (IHT) and changes to capital gains tax (CGT).

The chancellor, Munro also observed, “has flagged her intention openly” by allowing frozen IHT allowances to remain through to 2028 but not to 2030.

This will drag 11.5 million people into higher rates of income tax over the next four years, enough to “fill Wembley Stadium several times over”.

However, Munro pointed out that 42% of those people are aged between 50 and 79 – the target market ‘heartland’ of clients heading towards retirement decisions.

The government has stated in the Budget that “pensions should not be a vehicle for the accumulation of capital sums for the purposes of inheritance”.

It also established that IHT will apply to all pension wealth that is transferable on death.

Therefore, said Munro, redefining the primary purpose of a pension will require a massive shift in advice for those with substantial defined contribution (DC) pots.

Munro also said that changes to CGT had “drained the life” out of general investment accounts (GIAs).

For disposals after October 30, the lower rate of CGT will rise from 10% to 18%. The higher rate will rise from 20% to 24%, while trusts have increased to 24%.

In addition, business asset disposal relief (BADR) and investors’ relief (IR) will rise gradually to 14% from April 6, 2025, to align with the lower rate of 18% by April 6, 2026.

This makes it less attractive to transfer ownership to a spouse than before, with GCT annual exempt amounts falling from £12,300 in 2020/21 to £3,000 in 2024/25.

The tax-free dividend allowance also fallen from £5,000 in 2016 to 2018, to £500 in 2024 to 2025.

The layering effect of all these fiscal changes has hit hard, said Munro, with tax now potentially the biggest cost to a client.

As a result, tax-wrapper optimisation is now paramount, as wrapper selection could have the biggest impact on total net costs.

Munro illustrated this point using a graph that showed platforms representing 25 basis points (bps), investment 60 bps, advice 50 bps and tax 88 bps (or 65% of the total 223 bps).

As previously flagged at last year’s PFS conference, these changes to IHT and CGT are likely to increase the attractiveness of bonds.

Munro pointed to Quilter’s ongoing tax-comparison tool to assess the ‘here and now’ tax position of retaining an existing CIA/GIA compared to moving to an onshore bond.

Bonds, he emphasised, are “a critical tax-planning tool” in terms of rewrapping client wealth

He also said that quality financial advice in this new tax landscape would be vital.

“Clients are going to need your help,” he concluded, “so your value has gone through the roof.”

SHOPPERS are thrilled after Aldi has stocked its shelves with a dupe of a much-loved Christmas treat from Greggs.

The bakery chain’s new festive menu left fans thrilled when it confirmed the return of a firm favourite – the Festive Bake.

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But, rather than queue outside the bakery waiting to snag one, many are turning to their local Aldi.

The German-based retailer is offering a dupe of the Greggs Festive Bake for a fraction of the cost.

The Crestwood Festive Bakes found in the freezer section from November 27 are made with chicken, beechwood smoked bacon and cranberries.

They come with a sage and onion sauce which is all wrapped in puff pastry with a parsley and breadcrumb topping.

“Look What’s Back In Aldi!” one excited shopper exclaimed on Facebook after snagging the product early.

“If you see these clear the shelf,” one person said in the comments, tagging a friend.

“They are just as delicious as usual too!!” another said.

For a pack of two weighing 154 grams each, Aldi shoppers can scoop the Greggs dupe for just £1.75, saving them 56% compared to Greggs.

However, before shoppers go “clearing the shelves,” at Aldi there is a maximum number of boxes you can buy in one go.

To be able to spread as much festive joy as possible, there is a maximum purchase quantity of 10 boxes.

Just one Greggs Festive Bake is £2 or can be part of a savoury and hot drink deal for a total of £2.85.

The puff pastry bake is filled with pieces of chicken breast, sage and onion stuffing, Sweetcure bacon and a creamy sage and cranberry sauce.

Like the Aldi dupe, the Greggs version is also topped with breadcrumbs.

GREGGS FESTIVE FOOD

There is also a vegan option for those who are on plant-based diets which is made with vegan puff pastry, Quorn pieces, sage and onion stuffing balls, vegan bacon and cranberry and red onion sauce.

This is also just £2 or can be part of the same meal deal detailed above.

But, Aldi is also selling its Plant Menu Festive Bakes fir £1.19 for two made with vegan pastry, seasoned soya protein, sweetened dried cranberries and a sage and onion stuffing.

These are 70% cheaper than the Greggs version.

The North East-based bakery released its Christmas menu in bakeries on November 7.

For the first time ever, Greggs launched a Christmas advert to highlight its seasonal offerings.

The cosy ad features none other than celebrity chef Nigella Lawson who was seen devouring a number of the seasonal bakes and drinks on offer from the bakery.

She described the festive bake as a “rapturous riot of flavour” with a “succulent filling”.

The advert parodies Nigella’s famed use of superlatives, which viewers of her popular cooking shows will be familiar with.

Greggs fans can also look forward to mince pies, gingerbread lattes, Christmas baguettes, festive flatbreads and much more.

A second menu launch will be revealed later this month, the chain has confirmed so keep your eyes peeled.

OTHER CHRISTMAS OFFERINGS

As more and more retailers announce their Christmas menus and products, shoppers will be spoilt for choice.

At Aldi, there are three limited edition festive crisps which are flavoured: Beef Wellington, Turkey and Stuffing, and Pigs in Blankets.

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Shoppers can also bag Bailey’s dupe, the Specially Selected Irish Cream Liqueur for just £7.99.

Others will be rushing to M&S to get their hands on the Christmas version of Colin the Caterpillar.

The Sleigh Ride Colin the Caterpillar features “Colin as you’ve never seen him before,” M&S claims.

With 46% more chocolate than the traditional caterpillar cake, Colin is getting into the spirit of Christmas, oozing both joy and indulgence.

Festive Colin wears a red Santa hat and is pulling a present-filled sleigh with candy canes and white and milk chocolate gifts.

But, once again, Aldi is offering shoppers a dupe with their own festive Cuthbert the Caterpillar which will be available from November 24.

Unlike Colin, Cuthbert Christmas is not in a sleigh, but wearing a Santa hat, a green bow tie and has white chocolate stars down his back.

Best Balance Transfer Credit Cards in the UK for November 2024.

Transferring credit card debt to a balance transfer card can help you save on interest, allowing you to pay off your debt faster. Discover how balance transfer cards work and find our top picks for the best deals available, tailored to various credit scores.

If you’re paying interest on your credit card, moving the debt to a balance transfer card could save you money. Many cards offer an introductory period with 0% interest for a set timeframe—ranging from a few months to over two years—so you won’t pay interest if you clear the balance before the promotional period ends.

The Best 0% Balance Transfer Cards

If you’re new to balance transfer cards, choose one that suits your financial situation. Generally, seek a card with the lowest APR (ideally 0%), the longest interest-free period, the lowest transfer fee, and a credit limit high enough to cover your existing debt.

Longer 0% deals are often available to those with higher credit scores. Using an eligibility checker can give you a sense of your chances for approval, along with an estimate of your potential credit limit and APR. This check is quick, easy, and won’t appear on your credit report.

Longest 0% Interest-Free Balance Transfer Cards

These cards are ranked by the longest 0% interest period, followed by balance transfer fee, and then APR. Your specific offer may vary.

Note: We regularly update this table to reflect accurate information, but always double-check terms as they may change. Credit card data is provided by Finance Monthly.

Longest 0% Interest-Free Period with No Fee

For those looking to avoid a balance transfer fee, the following cards offer interest-free periods without one.

Balance Transfer Cards for Bad Credit

If you have a lower credit score, you might still qualify for a balance transfer card. Though you may not receive the longest 0% deals, some providers offer low or 0% interest cards for individuals with limited credit history.

Be sure to check the APR once the promotional offer ends. If you’re not likely to clear the balance by that time and the APR is higher than your current card, consider waiting to transfer until you’re eligible for a better deal. Alternatively, consider transferring only part of your balance that you can clear before the 0% offer expires.

How Do 0% Balance Transfer Cards Work?

With a balance transfer card, you use one card to pay off another. The primary benefit is the ability to clear debt faster, without accruing interest charges. For instance, if you owe £2,000 on a card with 25% interest, a substantial portion of your monthly payment goes toward interest. By moving this debt to a 0% balance transfer card, you’ll only be paying off the principal for the introductory period. However, keep in mind that many 0% cards charge a transfer fee, typically up to 5%.

Once the 0% period ends, interest reverts to the card’s standard rate. Aim to clear the debt before this occurs, or you could apply for a new balance transfer card to keep the interest-free momentum going.

Advantages of 0% Balance Transfer Cards

The main benefits of a balance transfer card include:

• Reduced or eliminated interest charges.
• Accelerated debt repayment by focusing payments on the balance, not interest.
• The ability to consolidate multiple debts onto one card, simplifying payments.
• A potential boost to your credit score, provided you don’t add new charges.

Disadvantages of 0% Balance Transfer Cards

Consider these drawbacks:

• A balance transfer fee is common, typically a percentage of the balance transferred.
• Interest rates revert to the card’s standard rate after the 0% period.
• If you make purchases or cash withdrawals, these may incur interest immediately unless specified otherwise.
• A temporary dip in credit score may occur, as each new application prompts a hard credit check.
• Risk of financial setbacks if you’re not disciplined with spending and debt management.

Am I Eligible for a Balance Transfer Card?

Although the best deals usually require a good credit score, there are balance transfer cards available for individuals with lower scores. These typically have a lower credit limit, shorter promotional period, and a higher APR after the introductory period ends. Even without a 0% offer, transferring to a lower-APR card could reduce costs.

Before applying for a balance transfer card:

• Check Eligibility: Most providers require you to be over 18, a UK resident, with a permanent address and a minimum income. Avoid recent bankruptcies, IVAs, or CCJs. An eligibility checker from a provider or broker can help gauge your likelihood of approval without affecting your credit report.
• Check Your Credit Score: Your score can influence the success of your application. Factors like missed payments and high credit usage impact it, so review your score for free with agencies like Experian, Equifax, ClearScore, or Credit Karma.

How to Apply for a Balance Transfer Card

You can usually apply for a balance transfer card online or in-branch. The provider will run a credit check, so be prepared to provide:

• Your contact information
• Address history (last three years)
• Bank details
• Income

If applying online, you may get an instant decision, though approval times vary. Upon approval, review your credit limit, APR, fees, and minimum payment. Only sign if you’re satisfied; you can still walk away without obligation. After signing, you’ll have a 14-day cooling-off period during which you can cancel the agreement.

If denied, avoid reapplying immediately, as repeated applications can harm your credit score. Instead, review your credit report and use eligibility checkers before applying again.

How to Transfer a Balance

After your account is open, transfer your balance as soon as possible to start saving on interest. Follow these steps:

1. Request the transfer from your new provider (typically online or by phone) and provide account numbers and transfer amounts.
2. Wait for the transfer to complete—this may take minutes or a few days, depending on the provider. Once done, you can close the old account if you’ve cleared the balance.
3. Make timely payments on your new card to maintain the 0% offer and protect your credit score. If your new credit limit doesn’t cover the full balance, continue paying the remaining balance on the old card as well.

Best Two-Year Variable Mortgage Deals by Monthly Repayment For November 2024

A “swivel-chair approach” to technology is stifling adviser productivity and stunting firms’ ability to grow, Timeline CEO Abraham Okusanya has warned.

At the Personal Finance Society’s Rewired conference today (12 November), Okusanya said that in the five years following RDR, adviser productivity grew by over 50%.

However, in the last five, he said research showed it has declined by 10%.

Part of the problem, he believes, originates from “the way our technology stack is set up”.

“Twenty-five years ago, a gentleman from Australia had an idea to bring a piece of technology to the UK that would liberate the financial adviser.

“What has happened over the subsequent years is that we have numerous technology tools built around this ecosystem.

“As a result, we have ended up with a swivel-chair approach to technology.”

“Stop and think how many tools you now have to log into just to deliver advice to your clients,” Okusanya told delegates.

He said the next generation of platform – platform 3.0 – “is going to be an integrated ecosystem of all the main tools an adviser needs”.

He added that this new generation of platform, where everything can be done in a single place, “isn’t a prison, it’s actually easier to leave”.

This is because “you can click a button, download all your information and off you go”. He added: “Try doing that today, you can’t.”

This next generation of technology, he said, will “change the way we deliver advice”.

Okusanya also said advisers aren’t seeing as many clients as they could due to “admin overload” caused by increased regulatory pressure.

Financial advisers currently only serve 8% of the country, despite over 30% of households having a net worth of more than £500,000.

“Someone said to me ‘you’ve got to remember, Abraham, that the average financial adviser is 53 and running down the clock’. I can’t get my head around that.

“But it gets worse, because when I speak to younger advisers who are running their own businesses there doesn’t seem to be a huge amount of desire for growth.”

He said there “seems to be this perception that if you want to grow then you are going to destroy your lifestyle in the process”.

“I just cannot get it, because if there is demand for what we do, if we have capacity to do good in the world – to make a difference and make a little bit more money while preserving our lifestyle – why would you not do it?”

“If you are on the south side of 53, you have an incredible opportunity to make a difference because you have the best gift of all, which is time.

“If you are on the north side of that, you have something that the other side doesn’t – wisdom.”

Okusanya said the average adviser creates £160,000 of revenue per year for their firm.

Consolidation “doesn’t seem to make this significantly better”, he claimed, because “even when you are really big, the improvement is only around £5,000 per annum”.

He said there are “outliers out there doing significantly better than this” and referenced a wealth-management firm whose advisers are turning over £1m a year.

He said just spending 10% less time in the back office can translate into over half a million more in revenue.

“That’s how a small improvement in how you spend your time in your operation translates to bigger, better productivity and profitability.”