Mehak Bambrah- Financial Planner

23/06/2026

After weeks of speculation and growing pressure, Keir Starmer announced his resignation as prime minister on 22 June. It comes after just under two years in office and means the UK will soon have its fifth prime minister in as many years. However, the next steps remain unclear. Even in the event of a smooth ‘coronation’ to a successor, the process could take several weeks.

Immediately after the announcement, the UK market took Starmer’s resignation largely in its stride, although the pound weakened in anticipation of his resignation. The FTSE was very marginally down while gilts held steady in the hours after the news was released on Monday morning. However, a big question, not least for markets, will be who becomes the next chancellor if, as expected, Rachel Reeves is moved from her current position.

Hetal Mehta, St. James's Place’s Chief Economist, says: “Given the current situation, policy uncertainty – especially regarding the fiscal stance – could remain elevated for months, i.e, until the next Budget."

“Without cuts to day-to-day spending and welfare, any attempts to boost investment or reduce the real terms spending cuts some government departments are facing, would require tax increases.”

Read more here:
https://partnership.sjp.co.uk/article/detail/sjpp/weekwatch-22-06-2026.html

21/06/2026

👔 Happy Father's Day
Some of life's greatest lessons don't come from textbooks, they come from our parents.

Patience, resilience, generosity and planning for the future are values many of us first learned from our fathers and father figures.

Today we're celebrating all the dads and grandads who continue to inspire the next generation.

Wishing you all a very Happy Father's Day.

17/06/2026

⚽ There's something special about the opening game of a major tournament.

England face Croatia tonight to begin their World Cup campaign and we'll be joining the rest of the country in getting behind the team.

Here's hoping for an exciting tournament, plenty of memorable moments and a successful start this evening.

Good luck, England! 🏴󠁧󠁢󠁥󠁮󠁧󠁿

16/06/2026

Week Watch: To the moon (and Mars) 🚀

While the Iran deal will likely dominate headlines over the coming days, last week the big story was the record-breaking initial public offering (IPO) of Elon Musk’s SpaceX.

The IPO shattered previous records. Shares opened at $150 on Friday, rising to $160 by the end of the day, valuing the company at over $2 trillion. This leaves the company as one of the largest in the world by market cap, above giants like Saudi Aramco, Meta, and Musk’s other business, Tesla.

This had a knock-on effect for the rest of the market, as investors sold off other shares to make room in portfolios for SpaceX.

Its value is a sign that investors have faith that the company will meet at least some of its ambitious targets. These include putting data centres in orbit and people on Mars. As a loss-making business, investors will be hoping these will help it report profits to justify such lofty prices. Regardless, the news on Friday meant that Elon Musk became the world’s first trillionaire.

SpaceX won’t be the only IPO game in town for long. AI giants Anthropic and OpenAI are due to list later this year. Both are likely to receive valuations in the hundreds of billions, as things stand.

Read more in this week's Week Watch:
https://partnership.sjp.co.uk/article/detail/sjpp/weekwatch-15-06-2026.html

WeekWatch - 15/06/2026

10/06/2026

🌈 Pride Month 2026
Families come in many forms and every family deserves the same opportunity to build a secure future.

While society has made significant progress, research shows that almost 40% of LGBTQ+ employees still hide who they are at work, often due to concerns about discrimination.

Pride Month is a reminder of the importance of acceptance, understanding and ensuring that everyone feels able to be themselves.

Wishing everyone celebrating a happy Pride Month.

Source: Stonewall UK 2025

09/06/2026

Week Watch: Mortgage rule changes could help more self-employed and older borrowers

The self-employed, older borrowers, first-time buyers, and workers paid in a foreign currency are among those who could benefit from a relaxation in mortgage lending rules.

The regulator, the Financial Conduct Authority, has published a consultation into its proposed mortgage rule changes . The reforms, if introduced, would give lenders greater flexibility when lending to specific groups.

It could help many more borrowers secure a mortgage, where previously they have struggled, or been locked out of the market, due to rigid lending criteria.

Read more here:
https://partnership.sjp.co.uk/article/detail/sjpp/mortgage-rule-changes-could-help-more-self-employed-and-older-borrowers.html

05/06/2026

Many employees are surprised to learn that their workplace death in service benefit may not provide the level of protection they assume it does.

A common arrangement might provide 2-4 times salary. For some families, that may sound significant. But when you consider mortgages, school fees, childcare costs, everyday living expenses and the loss of future earnings, the picture can look very different.

The reality is that many households are likely to be underinsured without realising it.

Employer benefits can form an important foundation, but they were rarely designed around your specific circumstances, liabilities or long-term family objectives.

Questions worth considering:
• Would the mortgage be cleared?
• How long could your family maintain their lifestyle?
• Would future plans need to change?
• Is there enough protection beyond your employer benefits?

Protection planning isn’t simply about the amount of cover you have. It’s whether that cover reflects the life you’ve built.

02/06/2026

WEEK WATCH: Pension withdrawals on the rise 📈

Growing numbers of people are taking money out of their pensions ahead of April 2027, when unused pots will fall into an estate for inheritance tax (IHT) purposes.

Several reports suggest that hundreds of thousands of UK pension savers are cashing out their pension pots in full, in anticipation of the proposed changes coming into force next year. Historically many savers have used pensions as a way of passing on family wealth to beneficiaries, as pensions were exempt from IHT.

But it means many people could be paying more tax than necessary. The lump sum allowance (the amount a pension saver is allowed to take tax free) is typically 25% of the pension pot, to a maximum of £268,275. Any withdrawals above this level are taxed at the individual’s marginal tax rate.

This means that withdrawing a pension in one go could push many people into higher tax bands, potentially triggering avoidable tax bills.

Government estimates suggest that bringing most unused pension wealth into scope for IHT from the 2027/28 tax year could have a noticeable impact. Around 10,500 more estates are expected to become liable for IHT, with a further 38,500 likely to pay more. On average, affected estates could see
their IHT bill rise by around £34,000.*

Read more here:
https://partnership.sjp.co.uk/article/detail/sjpp/weekwatch-01-06-2026.html

*SOURCE: UK government: Inheritance Tax on pensions: liability, reporting and payment - Summary of responses, July 2025

The levels and bases of taxation and reliefs from taxation can change at any time. Tax relief is dependent on individual circumstances.

28/05/2026

Passing on wealth to future generations is one of the most rewarding things you can do with your hard-earned money. The assets you pass on could help your children or grandchildren buy homes, get great educations or set up their own business. So, ring-fencing as much as you can in order to mitigate the amount of Inheritance Tax or IHT you will need to pay is an important part of estate planning and future financial wellbeing.

3️⃣ Here are three practical things you can do right now to help safe guard your wealth:
• Make sure your financial affairs and your Will are set up to allow the tax- efficient transfer of your assets when you die.
• Start transferring assets before your death through the prudent use of lifetime gifts.
• Create a tax-efficient fund to provide a legacy or to help your beneficiaries pay any Inheritance Tax due.

Building your wealth takes enterprise, vision and hard work. Protecting that wealth also takes foresight and expert trust and estate planning.

The value of an investment may fall as well as rise. You may get back less than you invested.

Taxation rules can change at any time and are dependent on individual circumstances.

Advice relating to a Will involves the referral to a service that is separate and distinct to those offered by St. James's Place. Wills and Trusts are not regulated by the Financial Conduct Authority.

26/05/2026

The Pensions Commission has warned that 15 million people across the UK are not saving enough for retirement.

In an interim report published last week, the government-backed Commission highlighted the key challenges facing the current system. Low and middle earners, the self-employed and women are among those groups most at risk of inadequate pensions, it said. This is because they are failing to save enough for retirement.

The report also revealed that around 18 million people, equivalent to 45% of working age adults, are not saving into a pension. In addition, only 4% of the self-employed are saving for retirement.

The Pensions Commission will publish its final report in early 2027.

In its recently published Financial Health Report 2026, the fifth in the series, St. James's Place found cost of living pressures have caused a drop in financial resilience among UK households.

The survey, conducted by Opinium among 6,000 adults, found fewer people now describe themselves as financially comfortable, compared to 12 months ago (37% in 2026 compared to 42% in 2025).

Read more in this week's WEEK WATCH:
https://partnership.sjp.co.uk/article/detail/sjpp/weekwatch-26-05-2026.html