Hargreaves Lansdown’s top brass have been awarded heaps of shares under what the platform calls its “sustained performance plan”. These include awards worth more than £310,000 for its chief executive Chris Hill, £220,000 for chief financial officer Philip Johnson, and £150,000 for chief investment officer Lee Gardhouse. Helen Gardhouse – described as “a person closely associated to a director/person discharging managerial responsibility in the company”, has also sold 120,000 ordinary shares worth £1.9m.


Meanwhile, in continuing deal news of late, Momentum Global Investment Management is acquiring Seneca Investment Managers for an undisclosed sum. It still needs those pesky regulatory approvals, but the merger should give the multi-asset managers some £5bn to play with between them.



From Elsewhere

Wealthy London banker havens spared the worst of Covid-19 (Financial News)

Cryptocurrency has the power to revolutionise a corrupt banking system (The Independent)

OECD misses deadline for global digital tax reform (The Times)

Unemployment surges to 4.5% by August as pandemic hits jobs (BBC)

Top asset managers commit to big carbon emissions cuts (Guardian)

Our cover story this week takes a deep dive into the world of adviser succession planning. While there are many good reasons to sell to a big brand, some advisers are looking at other ways of passing their firm on, such as management buy outs, employee ownership trusts, or getting their family involved.