Canaccord Genuity Wealth Management (UK, Channel Islands and Isle of Man)

While digital offerings are popular with younger generations, personal meetings remain crucial for building trust across the age spectrum. Paul Derrien spoke to FT Adviser about personal connection and the need to support clients close to home. Read Paul’s thoughts here: https://ow.ly/AQTR50U0rtn Investment involves risk, and you may not get back what you invest. It’s not suitable for everyone. #wealthmanagement #clientrelationships #local

Last week, the UK budget raised the country’s tax burden to a record high as Chancellor Rachel Reeves announced a £40bn tax increase. We examine how bond and equity markets responded. Meanwhile, one of the most significant US presidential elections in history comes to a decisive conclusion this week, with the race going down to the wire. In our weekly markets review, Nick Maunder, Investment Analyst at Canaccord, reviews last week’s market and economic developments while assessing the potentially seismic impact of the US election results expected this week. Read our latest weekly markets review ⬇️ Investment involves risk, and you may not get back what you invest. It’s not suitable for everyone. #markets #investing #economy

It’s been one of the most impactful budgets in recent times and Andy Finch, CEO of our international business spoke to the BBC about the big spike we have observed in people from the UK considering moving to more favourable tax regimes in the Crown Dependencies. Read here: https://ow.ly/r4Fo50TYbMK Investment involves risk, and you may not get back what you invest. It’s not suitable for everyone. #ukbudget #investing #CGT

UK Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years today. The government aims to raise £40bn in tax over the coming years, with the goal of ending borrowing for day-to-day government spending by 2029. While more details are needed to fully analyse the impact of each proposal, here we share some initial insights and the importance of early planning. Overall, the Budget wasn’t the attack on wealth the leaks beforehand might have led some to believe. Announcements were made on expected increases in capital gains tax (CGT) and carried interest* which, while significant and painful, probably won’t act as major disincentives. CGT was raised from 10% to 18% at the lower rate and from 20% to 24% at the higher rate. This isn’t ideal, but far from the 45% that some feared. Similarly, the carried interest increase from 28% to 32% is significant for those impacted, but not overwhelmingly so. Although the Budget wasn’t as potentially damaging as was feared, the UK still has the highest tax burden on record, worsened by today’s measures. One potentially seismic change is bringing pensions into inheritance tax (IHT) liability for the first time. However, with minimal details provided, it’s impossible to judge the impact. While it’s unlikely that IHT would apply to spousal transfers upon death, this change may make it worthwhile spending your pension rather than preserving it solely as an inheritance tax planning tool. In another change to IHT, tax relief for shares listed on the Alternative Investment Market (AIM) has halved, setting the effective tax rate at 20% from April 2026. Also, the 1.2% increase in employer NI contributions (from 13.8% to 15%) could function as a tax on jobs and a drag on business growth. While the measure aims to protect smaller businesses, it will notably impact medium and large companies, especially those with substantial numbers of employees. The Budget also confirmed anticipated changes to VAT on school fees, with private schools now losing business rate relief. Stamp Duty on second homes will rise immediately from 3% to 5%. Markets have responded positively to the Budget, with the significant boost in capital expenditure and revised fiscal rules encouraging optimism for future opportunities. As stated, further detail on all the changes announced and proposed is necessary to understand the need for any financial planning strategies. We will get into that detail over the coming days and weeks and share our thoughts about how they may impact you as we learn more. If you have any questions on the changes we have mentioned above in the meantime, and how the Budget could affect you, please get in touch. *Carried interest is a share of the profits that investment managers or private equity partners receive as compensation. This profit share is designed to reward managers for enhancing fund performance, aligning their incentives with investors. #AutumnBudget #UKBudget #Budget2024

With potential shifts in pension rules, tax reliefs, and contribution limits in the Autumn budget, retirement planning as we know it could be reshaped. In our upcoming webinar, Harry Plunkett DipPFS, Wealth Planner and Toby Carpenter CFA, Investment Director, will break down how the budget will affect your pension and retirement strategy and discuss: 💼 The UK pensions landscape pre-budget 📅 What’s changing and when 🪙Key strategies for pensions planning post-budget Register here: https://ow.ly/96me50TVwtz Investment involves risk, and you may not get back what you invest. It’s not suitable for everyone. The tax treatments discussed are based on our current understanding of UK legislation. It is a broad summary and cannot cover every circumstance and it does not constitute tax advice. #Budget2024 #Pensions #Retirement #FinancialPlanning

Although divorce rates in the UK are declining, it remains crucial to seek expert financial advice to navigate what can be a challenging journey. Hazel Bowen spoke to Findawealthmanager about some of the most important considerations. Read the full article here: https://ow.ly/xUxL50TV7EP Investment involves risk, and you may not get back what you invest. It’s not suitable for everyone. #divorce #wealthplanning #beprepared

Bond yields are surging as expectations for rate cuts fade, with US and UK 10-year yields reaching 4.24% and 4.23%, respectively. Strong economic data suggests a potential soft landing, but global equities continue to slide. Key events to watch include the UK Budget on Wednesday and US GDP and employment reports, which will offer further insight into economic strength amid rising yields and market volatility. In our weekly markets review, Thomas Hibbert, CFA, Multi-Asset Strategist at Canaccord, reviews last week’s market and economic movements. Read our latest weekly markets review ⬇️ Investment involves risk, and you may not get back what you invest. It’s not suitable for everyone. #markets #investing #economy

As a business owner, you’re often focused on running your company, leaving little time for personal financial planning. But ensuring your personal finances are in order is just as important as managing your business’s cash flow. Without the right planning, you could be missing out on opportunities to secure your future. In our latest Planning Ahead article David Goodfellow, Head of Wealth Planning explains how effective cash flow planning can help business owners balance their business and personal financial goals. 👉 Read more: https://ow.ly/Vlng50TTnpH Investment involves risk, and you may not get back what you invest. It’s not suitable for everyone. #CashFlowPlanning #BusinessOwners #FinancialPlanning #WealthManagement

We are proud to announce that our CEO David Esfandi has been named in Spear’s Power List 2024. #spearspowerlist #leadership #investing