03-04-2025
As the UK tax year-end approaches, it’s time to optimise your finances. Maximise your ISA contributions to benefit from tax-free growth, and use pension carry-forward to boost savings with unused allowances. Don’t forget to utilise your capital gains tax exemption and explore loss harvesting to protect your portfolio. Reduce inheritance tax liabilities with gifting strategies and trusts, ensuring more of your wealth is passed on to loved ones. Finally, charitable donations made before April 5th can lower your tax bill while supporting meaningful causes.
03-04-2025
Retirement is often described as life's longest holiday. Check out our articles, tips and guides to make sure your retirement pot lasts the distance.
US markets rallied on optimism about the Federal Reserve’s soft landing, while European and Asian markets showed resilience amid economic uncertainty.
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This week, global markets have been rattled by newly announced US tariffs, with the S&P 500 down 8.6% from recent highs and European and Asian stocks also slipping amid fears of a slowdown and rising inflation. Bitcoin remains volatile, trading around $82,000, as analysts debate its short-term direction. UK wealth firms are undergoing major changes: St. James’s Place is restructuring its funds and leadership while Hargreaves Lansdown has officially delisted following a £5.4bn acquisition. Meanwhile, as the UK tax year ends on 5 April, investors are urged to maximise ISA and pension contributions, use capital gains allowances, and review estate planning. Barclays, Goldman Sachs, and Morgan Stanley have all updated their 2025 forecasts, citing heightened recession risks and uncertainty around interest rates.
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US Markets: Tariffs Trigger Market Volatility
U.S. stock markets experienced significant volatility following President Donald Trump's announcement of sweeping new tariffs, including a 25% levy on imported automobiles and additional tariffs on various goods from China, Canada, Mexico, and the European Union. The S&P 500 closed down 8.6% from its February 19 record high, shedding over $4 trillion in market value since then and nearing a 10% decline that would represent a correction for the index. Investors are concerned about the potential for a recession or stagflation, as tariffs could drive up prices, reduce corporate investment, and slow economic growth.
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European Markets: Stocks Decline Amid Trade Tensions
European stock markets recorded their first monthly decline of the year in March, as looming U.S. tariffs weighed on investor sentiment. The pan-European STOXX 600 index fell, with mining, banking, and auto stocks among those leading the decline. Investors are apprehensive about the potential for escalating trade tensions to impact the European economy.
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Asian Markets: Capital Outflows Amid Trade Policy Concerns
Asian equities faced significant outflows in the first quarter of 2025, with foreign investors withdrawing a net $43.73 billion—the highest outflow in at least 15 years. This capital flight was driven by fears surrounding U.S. President Donald Trump's aggressive trade policies, particularly the implementation of sweeping reciprocal tariffs on trade partners. China, South Korea, and Taiwan were most affected, with China now facing a 54% effective tariff rate.
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Cryptocurrency: Bitcoin Experiences Volatility
Bitcoin's price has shown volatility, recently trading around $82,000. Analysts have mixed views on its short-term trajectory, with some predicting a potential drop to $70,000 in April, while others foresee a possible breakout pattern similar to 2017. The cryptocurrency market continues to be influenced by broader economic factors and investor sentiment.
In a year defined by volatility—driven by global tariffs, shifting inflation expectations, and recession forecasts—clients are increasingly asking how to stay financially on track. At times like these, the value of wealth management goes beyond product selection. It’s about providing clarity, confidence, and consistency. A well-structured financial plan, regularly reviewed and updated, can help investors avoid short-term decision-making and instead focus on long-term goals. Whether it's maintaining discipline during market dips, adjusting risk exposure, or rebalancing portfolios, the role of a financial adviser is to provide both perspective and a plan. Wealth managers also play a key part in identifying opportunities that arise during times of uncertainty—whether through diversification, access to alternative assets, or simply ensuring the right mix of growth, income, and capital protection is in place. At a time when headlines are noisy and decisions carry weight, quality advice can be the difference between staying the course and missing the opportunity.
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Barclays
Barclays warns of a high risk of a U.S. recession in 2025, following the implementation of new tariffs. The bank projects a sharp slowdown in quarterly growth, potentially dwindling to just 0.1% by the end of the year.
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Morgan Stanley
Morgan Stanley has revised its forecast, now anticipating that the U.S. Federal Reserve will not implement any interest rate cuts in 2025. This change is in response to concerns that recently announced tariffs could lead to higher inflation levels
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St. James's Place (SJP)
Leadership Appointment: James Rainbow, formerly the UK head of Schroders, has been appointed as the Chief Executive of SJP Wealth Management. Rainbow brings 17 years of experience from Schroders, where he played a pivotal role in launching Schroders Personal Wealth in 2019. Workforce Restructuring: In December 2024, SJP announced plans to reduce its workforce by approximately 500 positions as part of a broader restructuring strategy. This initiative aims to cut annual costs by £100 million by 2027 and achieve cumulative savings of £500 million by 2030, with half of these savings intended for reinvestment into the company. Fund Management Changes: SJP is undergoing a significant revamp of its fund offerings, terminating relationships with underperforming asset managers, including Somerset Capital and Columbia Threadneedle. This move is part of SJP's effort to enhance fund performance and align with its strategic objectives.
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Hargreaves Lansdown
Acquisition and Delisting: In August 2024, Hargreaves Lansdown agreed to a £5.4 billion takeover by a consortium comprising CVC Capital Partners, Nordic Capital, and the Abu Dhabi Investment Authority. Shareholders approved the deal in October 2024, with approximately 87% voting in favor. The acquisition was completed in March 2025, resulting in the company's delisting from the London Stock Exchange. Investor Guidance for Tax Year-End: As the 2024/2025 tax year concludes on 5 April, Hargreaves Lansdown has been actively advising clients on tax-efficient saving and investment strategies. The firm emphasises utilising allowances such as contributing up to £20,000 into an Individual Savings Account (ISA) and up to £60,000 into a pension, subject to individual circumstances.
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J.P Morgan
Strategic Expansion and Recruitment In January 2025, J.P. Morgan Private Bank announced a significant expansion of its Morgan Private Advisory arm, reinforcing its commitment to delivering elevated services to ultra-high-net-worth clients. The expansion included strategic hires such as Robert Fritz as head of executive advisory, Kevin Tompkins as a senior cybersecurity specialist, and Christie Houlihan as a senior family office advisor. These appointments aim to enhance the firm's capabilities in executive advisory, cybersecurity, and family office services.
Topical Insight: Approaching the End of the UK Tax Year As the UK tax year concludes on 5 April 2025, individuals are encouraged to review their financial affairs to maximise tax efficiency. Key considerations include: • Utilising ISA Allowances: Contribute up to £20,000 into an Individual Savings Account (ISA) to benefit from tax-free growth and income. • Maximising Pension Contributions: Consider increasing pension contributions to benefit from tax relief, keeping in mind the annual allowance and potential carry forward of unused allowances from previous years. • Gifting to Reduce Inheritance Tax: Utilize the annual gift allowance to make tax-free gifts, potentially reducing the value of your estate for inheritance tax purposes. • Using Capital Gains Tax Allowance: Make use of the capital gains tax allowance by realizing gains up to the annual exempt amount, thereby reducing future tax liabilities. Proactive planning in these areas can lead to significant tax savings and ensure compliance with current regulations.
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Pensions & Retirement
Retirement is often described as life's longest holiday. Check out our articles, tips and guides to make sure your retirement pot lasts the distance.
Check out our articles, tips and guidesto make sure your retirement pot lasts thedistance.
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