Nearly half (48%) of those planning to leave an inheritance to the younger generation are concerned about how they will use the money, according to a report by Sanlam UK.

PIMFA, which represents 1,000 UK wealth managers and and financial advisers, has appointed three new board members.

Sanlam UK - part of Sanlam Limited, the South African-based group - has speeded up the development of its HNW client Private Office arm by appointing two new experienced recruits, Jonathan Moon and Will Cayzer.

Sanlam UK has recruited an ex-Close Brothers Asset Management head of private client, Penny Lovell, to launch its new Private Office business which is aimed at HNW clients.