In positive news, customer accounts in Switzerland increased from 6,558 to 9,146 in the first six months of 2020.
During the first half of 2020, Societe Generale successfully adapted to the consequences of the health crisis and was therefore able to effectively support its customers and employees, thereby strengthening its position as a trusted partner.
The deal has been undertaken with the support of Palatine Private Equity LLP, the UK midmarket private equity house that partnered with SMP in its 2019 management buy-out, with additional debt funding from Apera Asset Management.
Quilter research, conducted by YouGov*, asked respondents what three things they would do if they were to be given £500,000 tomorrow. Just 27% said they would speak to a financial adviser, which was consistent across all age groups.
It comes after FTAdviser reported earlier this year that from April 2020 Sanlam would move to a minimum fee of £20,000 a year for all ARs advising on pensions and investments, regardless of turnover.