RSM Tenon Group says recent changes in pensions legislation have created new opportunities for its advisory businesses and will have a "major influence" on revenue in the second half of 2010.
The coalition government last month announced it would cut the tax relief on pension savings for around 100,000 higher earners, in a move designed to save £4bn a year and help reduce the budget deficit. "New opportunities have arisen from government announcements and changes to legislation," chief executive Andy Raynor says. "These changes will encourage further activity towards the second half of the year within taxation and investment planning." In June, RSM Tenon Financial Services acquired Vantis Financial Management for £7m, with the group estimating an additional £27m of annu...
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