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According to Greg Palfrey of Smith and Williamson, we’ll see waves of insolvency this year as sector by sector, businesses feel the pinch. Government support measures have been a lifeline for millions of UK businesses. As of February 2021, £53.8bn have been claimed under the Coronavirus Job Retention Scheme (CJRS), furloughing 11.2m people. Over 1.5m businesses have received loans worth over £74bn, including future fund loans, business interruption schemes and bounce back loans. But, says Greg Palfrey, Partner and National Head of Restructuring & Recovery Services at Smith...

3 64.9 pence)   Common Equity Tier 1 (CET1) ratio strengthened to over 18% due to additional profitability in the second half. The potential impact of a 100% impairment of the funding line receivable of £28.6m would equate to only a 0.2% point reduction in the CET1 ratio as at 31 December 2020 4 Headline 2021 Guidance Based on our pipeline, current application levels and risk appetite, we currently expect to deliver underlying net loan book growth for 2021 of c.10%, although we remain cognisant of continued uncertainty in the economic outlook. Based on current pricing and cost of funds, we...

London IFA ropes in former M&G equity boss for ambitious growth plans MWA Financial is planning to acquire a number of advice firms over the next three to five years MWA Financial has roped in former M&G equity boss Ed Rosengarten as it eyes plans to become a national IFA firm. Rosengarten, who has been a strategic adviser to the business since 2019, is now executive chairman and will help the firm execute its growth strategy. Before joining MWA, Rosengarten was head of funds at Smith & Williamson and prior to that, spent 20 years at M&G, the last 10 years as chief executive of the firm’s e...

As Guy Rigby reached his mid-60s, his mind would turn from his office in central London to the ocean. “One of my mates was a fisherman. He used to spend months on end off the northwest coast of

As it names former head of funds at Smith & Williamson executive chairman London-based MWA Financial has acquired Hampshire-based Prosperity Financial Advisors & Stockbrokers to bolster its growth plans to become a national IFA firm. The deal takes MWA’s assets under influence to £300m ($418m, €351m) and its adviser headcount to 15. Under the terms of the agreement, Prosperity will keep its branding within the MWA group. Prosperity co-founders Mark Newman and Jasper de Zoeten will remain in their positions until the transition is complete. The financial terms were not disclosed. Ambition...