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Succession announces new IFA, Ainsworths Panacea
Succession
Succession Advisory Services (Succession), the UK’s leading specialist consolidation and capital creation vehicle for wealth management firms, is delighted to announce that Ainsworths Panacea, based in Manchester and Lancashire, has joined the partnership.

Ainsworths Panacea has 10 advisers and £103m funds under influence. As an independent wealth management and financial planning firm, founded in 2000 by Iain Crawford, Ainsworths Panacea specialises in financial planning for high net worth individuals and corporate clients.

Ainsworths Panacea MD, Iain Crawford, comments: “The Retail Distribution Review has prompted us to review our business model and we have looked long and hard at all opportunities or threats that it poses. As a result, we have taken the decision to restructure our business but we recognise that we need the expert support and experience that only Succession can offer. That has been a key driver for us joining the partnership. By partnering with Succession, we will be able to provide a client-focused service to fee paying clients whilst also looking to create a proposition that continues to look after our transaction-only clients.”

Simon Chamberlain, CEO of Succession said: “In only two years, Succession has become recognised for its expertise in helping IFA firms move their business proposition to become truly RDR-facing; centred around the client, looking after their needs over the long-term, and using an investment solution that is independent of product providers. Our specialist directors can assist and support Ainsworths Panacea – almost as non executives of their business – and our interests are completely aligned. As they grow within our partnership, changing their business model and becoming more profitable, we all will reap the benefits.”

Business Owners Breakfast Meeting
Date: Wednesday, 12 May 2010
Time: 08:00 - 10:30
Location: Turf Moor, Burnley FC

A breakfast workshop aimed at business owners and directors of limited companies. The speakers include Ian Dugmore MD at Ainsworths Accountants, David Rogers Senior Partner at Donald Race & Newton Solicitors, Andy Broadhead from Bright Grey and David Black from Yorkshire Bank. The event is being held in the Dr Iven Suite at Burnley Football Club (Turf Moor) with an 8 am arrival for tea, coffee & bacon sandwiches and a 10.30 finish.

TUC Conference Reebok Stadium, Horwich March 17th
Panacea were represented by Mark Jones at the TUC Conference on March 17th where 200 delegates gathered at the Reebok Stadium in Bolton to hear the positive impact unions are having by introducing their members to training and learning and increasing equality in the workplace. Panacea work alongside several unions such as the Public & Commercial Services Union (PCS) and give financial advice to members across the North of England and North Wales. Read more here...
Facebook
Why not join the Panacea Financial Services Facebook group? Each week we will adding interesting financial information and topical news along with having a forum to discuss on any area of finance you need help with. Membership is free and we will also be posting details of regular events so come and join us at www.facebook.com
The pre-Budget report at-a-glance
A summary of the key announcements in Alistair Darling's pre-Budget report December 9th 2010

TAX

  • Personal allowances frozen at 2009/10 levels
  • Inheritance tax nil rate threshold frozen at £325,000
  • 1p increase in corporation tax for small companies to be deferred
  • All national insurance rates to rise by a further 0.5% from April 2011
  • Pensions higher rate tax relief further restricted for incomes over £130,000
  • VAT to return to 17.5% from 15% from 1 January 2010.
  • One-off 50% tax on banker’s bonuses of more than £25,000
  • Stamp duty holiday on certain properties to end on 1 January 2010
  • Bingo duty to be cut from 22% to 20%

PENSIONS AND BENEFITS

  • Basic state pension will rise by 2.5% in April 2010
  • Contributions to public sector pensions to be cut by £1bn a year

ECONOMIC FORECASTS

  • Growth of 1%-1.5% expected in 2010 and 3.5% in 2011 and 2012
  • Estimated public loss from bank bailouts reduced from £50bn to £10bn
  • Total spending in 2010-11 to rise by £31bn

OTHER

  • Electric cars to be exempt from company car tax for five years
  • New 50p tax on landline phones to pay for superfast broadband
Latest Financial News
Ainsworths Panacea is a trading style of Ainsworths Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority.
We are entered in the FCA's register under reference 192807. Registered in England Reg number 4000799.