Abrdn’s financial advice business reported net outflows of £0.6bn for the first half of 2023.

In the 2020/21 tax year the number of estates paying inheritance tax rose 17% year-on-year with pandemic deaths a factor in the growth, according to data released today by HMRC.

M&G Wealth has recruited Abrdn Personal Wealth CEO Caroline Connellan to be its new chief executive.

Abrdn is to revamp its Financial Planning arm, formerly known as 1825, resulting in the closure of offices in Reading, Sheffield and Bristol (Bristol will be retained by the group).