Abrdn’s head of financial planning Sarah Deaves has left the business after two years.
A note published on Companies House confirmed her appointment was terminated on 23 February.
Before joining Abrdn, Deaves held senior leadership positions in a range of major wealth management businesses in the UK.
These included Schroders Personal Wealth, Lloyds Banking Group and RBS Group, where she was the first female chief executive of Coutts.
Deaves is the latest in a long line of senior staff to leave Abrdn Financial Planning. In the summer of 2022, Money Marketing reported that senior staff members were leaving in droves.
A separate note on Companies House, dated 8 January, confirmed that Abrdn Financial Planning has been brought under the control of Interactive Investor (II).
In its annual report for 2023, Abrdn said that, as II has continued to grow, it has received “numerous requests” for financial planning advice.
According to its website, Abrdn currently has around 90 financial advisers in its planning business.
In June last year, Money Marketing revealed that Abrdn was restructuring its financial planning arm to create the “business model it needs for the future”.
Following a review of its current set-up, the firm said it is going to split into two models: the ‘financial consultant’ model and the ‘regional advice’ model.
It said there may be redundancies as a result of changes to its financial planning business.
“One of the key synergies outlined when Abrdn acquired II was to integrate Abrdn’s financial planning capabilities into the business,” the report said.
“Over the course of 2023, we have further integrated these capabilities and restructured our financial planning offering, reducing headcount by 21% and closing four offices.”
The only bods who have NOT run are the masterminds behind the fall of the once Standard Life – a Scottish icon – and the, for many years. self interested board of ABRDN (now).
I woonder if the investment arm would buy or recommend their own shares??