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Health · 1 hour ago

Wealth manager paid no interest on £3.3m charity fund for six years

Wealth manager paid no interest on £3.3m charity fund for six years

A £3.3m charitable trust did not earn interest for six years, potentially losing £649,930 if it had a 3% interest rate. The executor tried to resolve the issue with Utmost, an "insurance-based wealth solutions provider" that bought Lombard International in 2024. Utmost states its policy terms make clear holding accounts do not accrue interest and claims the delay was due to missing documents.

By BriefTea Editorial ·

Reported by telegraph.co.uk · How we write briefs

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