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About Craven Street Capital

Craven Street Capital is a legal services company based out of London, United Kingdom.

Craven Street Capital Headquarter Location

11 Strand

London, W2CN 5HR,

United Kingdom

44 20 3327 5252

Latest Craven Street Capital News

The Morning Briefing: RL pension sales drop 20%; Truinvest continues acquisition spree

Mar 5, 2021

5th March 20219:30 am Good morning and welcome to your Morning Briefing for Friday 5 March, 2021. To get this in your inbox every morning click here. RL pension sales down 20% due to lockdowns  It is a tough time in the world of pensions and advisers based on results out from mutual Royal London today. Life and pension sales at the mutual dropped 20 per cent last year due to lockdowns as advisers were forced to change their business models. Overall new life and pensions business dropped to £8.5bn as at 31 December 2020 from £10.6bn as at 31 December 2019. Broken down individual pensions new business sales decreased by 25 per cent to £4.7bn from £6.3bn in 2019. The reduction was mainly due to individuals delaying the decision to consolidate their pension holdings and advisers having adapt their business models early in the pandemic. Truinvest continues acquisition spree with two new firms Truinvest is continuing its acquisition spree with the purchase of NLP Financial Management and Birchwood Investment Management, taking the total number to four. The firm, which launched in 2019 and identifies itself as a “market disrupter”, was co-founded by former Mattioli Woods chief operating officer Mark Smith and M&A director Micky Johal. It is currently backed by family office Stonewood Wealth Management, which has injected an undisclosed amount of funding. Quote Of The Day Building a pension is a long-term planning objective which merits long term tax laws. In the here and now, NHS clinicians and others who feel they may be impacted should consider seeking professional advice to help ensure that any decision to retire or withdraw from their pension scheme is appropriate. – FCA launches new online fees portal   The FCA is launching a new online invoicing portal on 12 April 2021 for users to access their invoices and arrange payment of their fees. An update on its website says firms should continue using the existing invoicing online portal for now. It adds the existing portal will no longer be available after 31 March 2021. Also there will be no portal available until the new portal launches on 12 April 2021. Stat Attack The ONS produces analysis of people aged over 80 in England during the coronavirus pandemic, including attitudes, behaviours and wellbeing in relation to the vaccination. Its latest data is for the period 15 to 20 February and shows some interesting findings below: Of over 80s who had received at least one dose of a Covid-19 vaccine, 41 per cent had experienced side effects. Of those who had experienced side effects and were still awaiting their second dose of a vaccine, 63 per cent said the side effects would not affect their decision to get the second dose, and 35 per cent were more likely to get the second dose. Around 19 out of 20 over 80s (96 per cent) would be very or somewhat likely to encourage others to get a Covid-19 vaccination. In Other News A new wealth management business has been launched by Craven Street Capital in the wake of its double acquisition. The purchase of Kreston Reeves Financial Planning, based in Canterbury, and Christchurch Investment Management, based in London, has added £850m assets under management and advice to Craven Street. Craven Street Capital chief executive Soondra Appavoo explained the firm hopes to make “further acquisitions over the next few years to create a substantial challenger in the financial planning and wealth management market.” He said: “We are delighted to have acquired Kreston Reeves Financial Planning and Christchurch Investment Management to create Craven Street Wealth. Both businesses are well established with a real focus on client outcomes.” From Elsewhere

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