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  • 📈 Fundment's £45M Win: Advisers’ Secret Weapon

📈 Fundment's £45M Win: Advisers’ Secret Weapon

Discount Drama: Poundland’s Future in the Balance

January 20, 2025

This is Cliff Equity, the UK’s business newsletter that keeps you informed on what’s important in tech, business and finance in less than 5 minutes

In today’s stories:

  • Fundment's £45M Win: Advisers’ Secret Weapon

  • Discount Drama: Poundland’s Future in the Balance

  • WPP’s Office U-Turn: Staff Revolt Ensues!

The summary: Fundment is revolutionising the financial advisory world with its cutting-edge, all-in-one platform, turbocharged by a £45 million boost to help advisers navigate wealth transfer, regulations, and scale effortlessly.

The details:

  • London’s Fundment, a tech haven for financial advisers handling high-net-worth clients, secures a hefty £45 million in Series C funding, led by Highland Europe and backed by ETFS Capital, to fuel product innovation, team growth, and global expansion.

  • With £5.5 trillion in UK assets set to change hands over the next 30 years, Fundment steps in with a next-gen platform tackling the tech headaches of financial advisers under mounting regulatory and cost pressures.

  • Founded by ex-BlackRock’s Ola Abdul in 2018, Fundment combines core services, back-office tools, and investment management into a sleek one-stop shop, helping advisers scale efficiently while staying on the right side of complex regulations.

  • Boasting over 500 firms and a growing range of investment options from giants like BlackRock and HSBC, Fundment is not just turning heads but doubling assets under management year-on-year, all while turning a profit and breaking new ground in both private and public sectors.

Why it matters: Fundment’s rise signals a seismic shift in the financial advisory world, where old-school methods are being swept aside by sleek, tech-savvy solutions. With £45 million in fresh funding, they’re poised to tackle the colossal wealth transfer and regulatory hurdles head-on, giving advisers the tools to thrive. In a landscape where keeping up is half the battle, Fundment’s all-in-one platform is the ace up the sleeve for financial firms aiming to stay sharp and scale smart.

The summary: Poundland faces a rocky patch with Pepco exploring big changes, but there’s hope yet for a turnaround as they focus on revamping their bargain-filled charm.

The details:

  • Poundland's parent company, Pepco Group, has brought in City advisers from AlixPartners to tackle a worrying sales slump, raising eyebrows over the chain's future.

  • Radical options are on the table, including potential store closures, a restructuring plan, or even a sale—though no decisions have been made just yet.

  • Despite a challenging Christmas period with a 7.3% sales dip, Pepco is optimistic the worst is behind and is focusing on revamping Poundland’s offerings and cutting costs.

  • With no plans to expand its store count this year, Poundland's future strategy will be unveiled by Pepco’s CEO at a March meeting in Poland.

Why it matters: Poundland's troubles highlight the shifting sands of Britain's retail landscape, where even the most beloved budget giants aren't immune to a sales slump. As Pepco toys with drastic measures, it’s a stark reminder that being cheap isn’t enough when consumers tighten their belts. The outcome could shake up the high street, potentially leaving bargain hunters with fewer options and shaking up the competition.

The summary: WPP’s poorly executed back-to-office policy has sparked a staff uproar, a petition, and a talent scramble, all while their own crisis management experts look on in disbelief.

The details:

  • WPP’s Back-to-Office Mandate Sparks Uproar: CEO Mark Read’s memo demanding a four-day office return ignites backlash, with a petition against it nearing 20,000 signatures, likened by staff to a "cup of cold sick."

  • Embarrassing PR Blunder for a PR Giant: The announcement, buried in a lengthy email, is slammed as a communications disaster by employees of a company famed for handling crises, ironically mishandling its own.

  • Recruitment Risks and Talent Exodus: Rival firms are circling as recruiters predict the policy will hamper WPP’s ability to retain and attract top talent, with staff lamenting increased commuting costs and logistical headaches.

  • Leadership Missteps Amid Industry Struggles: WPP’s once-dominant position wanes as leadership grapples with disgruntled staff and potential client fallout, underscoring a bruising few years for the advertising behemoth.

Why it matters: WPP’s office return debacle is a textbook case of how not to manage corporate communication, especially for a firm that prides itself on PR prowess. With talent threatening to jump ship and rival agencies gleefully circling, the policy risks turning a workplace grumble into a full-blown exodus. In the cut-throat world of advertising, it’s a reminder that mishandling internal affairs can have very public, and very costly, repercussions.