Centralised retirement proposition is the latest lingo being bandied about by asset managers and consultants. Many use it to imply that you need a different set of portfolios for clients in drawdown than those in accumulation. If you ask any of these folks how decumulation portfolios should be different, they have the same tired approaches […]
Charges and service levels for post-retirement clients remain in the spotlight Experts are urging platforms to up their game in the decumulation space as advisers report continuing frustrations when it comes to servicing drawdown clients. Advisers have undoubtedly benefited from huge efficiency gains when dealing with clients in accumulation, but some are now questioning whether […]
The FCA has fined two asset managers for breaching competition law in the first use of its new enforcement powers. The watchdog has fined Hargreave Hale £306,300 and River and Mercantile Asset Management £108,600. The FCA would have also fined Newton Investment Management Limited, but the firm was given immunity under the competition leniency programme, […]
Cutting back on costs can lead to a challenging environment for risk assets TINA, meaning “there is no alternative” to owning risk assets like credit and equities, has defined much of the current bull market. TINA wasn’t an accident, central banks purposefully sought to reduce the return available on safe assets to force investors into […]
From emotion recognition systems to AI compliance functions, the T3 conference points the way forward Adviser technology that appears in the US is often a sign of things to come here and gives a chance to learn from early adopters. One of the most valuable conferences I visit around the world is Technology Tools for […]
There were 0.8 per cent more residential property transactions in January 2019 than in December 2018, according to latest figures from HMRC. This equates to 101,170 properties transacted when counted on a seasonally adjusted basis, 1.3 per cent higher than the number recorded in January 2018. Additionally, HMRC reports that the start of this year […]
An asset manager has hit back at its fine from the FCA this morning over alleged price-fixing in initial public offerings and share placings. This morning, the FCA announced that, for the first time, it had used its new competition enforcement powers to fine Hargreave Hale and River and Mercantile for their role in sharing […]
The Financial Services Compensation Scheme has published its latest list of defaulted firms, with financial and mortgage advice firms featuring prominently again. Three financial advisers and a mortgage adviser feature on the list of eight firms. Glasgow-based Allan McRoberts was a two-man band advice firm which also traded under the A.M. Wealth Management Services brand, […]
Australian technology provider Iress has seen increases in both revenue and profits for 2018, with 7 per cent overall driven by its UK business. Iress is known predominantly for its back office system software Xplan, which is currently used by a wide range of advisers including planning and discretionary fund management firm Charles Stanley, national […]
Platform bosses are rich for a reason. In a matter of years, they have completely transformed the way financial advisers do business. The scale of the efficiency gains have been staggering and, in the eyes of advocates, platforms have been one of the innovations that has done the most to improve the financial lives of […]
Quilter has acquired financial planning business Charles Derby in a deal that will add over 200 restricted advisers to its national advice arm. Charles Derby was already a member of Quilter’s network Intrinsic but has now been fully acquired. The acquisition will see over 200 restricted financial planners transition to Quilter’s national advice business during […]
What’s the news in protection? On the surface you could be forgiven for thinking there isn’t anything new, that protection is still generally being overlooked and undervalued. Figures from Royal London’s State of the Protection Nation Report show that just 35% of people have life insurance, 12% have critical illness cover and 9% have income […]
For generations, life expectancy has been steadily increasing, with more and more people now likely to live to 100. Scottish Widows’ pension expert Robert Cochran tackles this longevity landscape with economist and co-author of the book ‘The 100-Year Life’, Andrew Scott, in episode one of Scottish Widows’ new podcast series – “The Future of Financial Planning”. Click […]
We’re all living longer – half the future generation born after 2036 is expected to live to 100*. But despite more of us saving for our retirement, and from a younger age, there’s still a lot of work to do if we want our time in retirement to be both financially and physically healthy – […]
Trade body the Investment Association will look to shine a light on companies where pensions to executives are outstripping the majority of the workforce ahead of a number of key annual general meetings. Companies who pay disproportionate pensions to newly-appointed directors will be “red-topped” in the IA’s Institutional Voting Information Service, the group has said, […]
The acquisition of fellow wealth manager Speirs and Jeffrey has helped Rathbones fight off market falls to post an increase in funds under management. In results for 2018 posted today, Rathbones says total funds under management increased by 12.8 per cent, from £39.1bn to £44.1bn in the year, despite the FTSE falling 12.5 per cent […]
Earlier this week, Money Marketing hosted a live debate on how to outsource investment management while keeping clients at the heart of your advice business. Our expert panel, including Gbi2’s Graham Bentley, Signpost Financial Planning’s Nigel McTear and investment managers from Charles Stanley, discussed how advisers can keep control over their relationships and how DFMs […]
Law firm Edwin Coe has commenced litigation on behalf of 400 investors against HSBC over its role in facilitating the operation of the Disney film financing investment scheme known as Eclipse. Money Marketing first reported that affected investors including celebrities and football managers were eyeing up a landmark legal challenge 18 months ago. The legal […]
As part of its retirement outcomes review, the FCA has been looking at non-advised income drawdown policies; specifically, the fact too many people are leaving their savings in cash regardless of how long they intend to keep the money there for. The regulator wants customers to set out their plans for the five years ahead. […]
IFA consolidator Perspective Financial Group has acquired Wirral-based Investment Principles. This is the second acquisition for the group in 2019 following the purchase of North East-based firm Galloway Whitfield (Life & Pensions) in January. Including the latest acquisition Perspective has bought 33 IFAs since 2008 and says it has more deals in the pipeline for […]
Advisers are switching their favoured platform at the highest rate in three years, according to research by Defaqto. In 2018, 25 per cent of advisers said they had changed their preferred platform in the last 12 months. This is up from 16 per cent answering positively to the same question in 2017 and 10 per […]
The Financial Services Compensation Scheme has issued another warning over a series of emails sent to members of the public purporting to be official communication from the lifeboat fund. The FSCS first flagged its concerns on 4 February over emails from Paulo Gatti and AAA Trade asking people to register to claim monies owed. The […]
A new survey from financial services group ING has revealed which countries worry the most about saving for their financial futures. In the polling of 15,000 people covering Europe, the USA, and Australia, ING found that having enough money in retirement was a worry shared by the majority, even where their country had a strong social […]
The Investment Association has launched new guidance to help fund managers communicate their strategies and technical terms with consumers. According to consumer testing carried out in partnership with The Wisdom Council, three quarters of investors struggle with technical terms, while others have difficulty understanding a range of commonly-used terms. Less than half are able to […]
Schroders has entered the financial planning market as part of its new tie up with Lloyds. During the second half of they year, and subject to regulatory approval, the pair plan to launch Schroders Personal Wealth. The service will start off as only available to current Lloyds Bank Private Banking and Bank of Scotland Private […]
Earlier this month, World Cancer Day raised awareness of the disease that continues to affect so many of us. There are few people who will not know someone who has been affected by cancer in some way. Cancer affects people of all ages and health types; it does not discriminate and those affected can often […]
Never underestimate the importance of a safe space for clients to talk, and do not overestimate your ability to create one. If people do not feel safe enough to unload their darkest money secrets, they will lie to you. As a side note, according to the book Everybody Lies by Seth Stephens-Davidowitz, the degree to […]
Some of the smartest financial planners struggle to make it as business owners and leaders of teams Running a business in financial services is no walk in the park. There is no amount of technical qualifications that will help you with this one. It does not matter how technically smart you are, it is not […]
My favourite news story earlier this month came into my inbox from Money Marketing. The headline read: “Treasury pushes for gender diversity interventions after ‘slow’ progress.” Maybe it is because I am a female who has worked in financial services for over 35 years that the news resonated. Economic secretary to the Treasury John Glen […]
The factors that scared off DB pensions and suppressed annuity rates are still around. Will advisers feel the backlash when risks are more apparent? Recent developments in pensions have accelerated the transfer of risk away from employers and institutions, and on to individuals. But the chances are that advisers will still get some of the […]
Economic predictions for the coming year The crystal ball for the next few months appears particularly foggy. There are questions over how long the current economic cycle can last, along with no shortage of questions over politics and the path of interest rates. Currently, there are reasons to paint a pretty bleak picture – economic […]
I have just celebrated publishing episode 200 of my podcast. When I came up with the idea, most people did not even know what a podcast was. In case you still don’t, it is a radio show you can download and listen to whenever you want. A broadcaster friend of mine at the time warned […]
The trade body must spell out the kind of fast, aggressive, targeted regulation the industry needs It seems hard to imagine but this month marks 27 years since I started writing for Money Marketing. I still remember my first front page scoop: the merger of two financial adviser trade bodies into a single entity – […]
When MPs on the work and pensions select committee launched a probe into contingent charging last month, they were well aware its inquiry would split the financial planning community. Frank Field and his team want the practice banned, despite the fact half of advisers are estimated to conduct defined benefit transfers on that basis. Responses […]
It is not the markets that make mistakes, but investors. Advisers must take on their biases and change their approach accordingly As humans, it is in our nature to misbehave when it comes to money and investing. That is just what we do. The average person carries round a suitcase full of biases ready to […]
A marketing-driven organisation is run by the marketing department. It revolves around what marketers do. A market-driven organisation is driven by what the market wants, regardless of what the marketing department feels like doing. Now, of course, there are organisations driven by sales, shareholder relations, operations and finance too, and you can usually tell which […]
In just over a month, our all-star speaker lineup will assemble in London for Money Marketing’s flagship conference. Money Marketing Interactive will bring together the finest minds in financial planning, along with senior staff at the FCA and Financial Ombudsman Service and other leading experts to debate and analyse the way forward for the profession […]
The people who govern us persist in wrongly thinking of retirement as a one-off process Freedom and choice are highly desirable. People have fought for generations for the ability to do and say what they wish without fear of reprisals. Google the phrase today, however, and the first page of entries is all about pensions. […]
City Hive founder Bev Shah has become a highly influential voice for diversity in the asset management sector. Ahead of her appearance at the forthcoming Money Marketing Interactive conference, she talks rebuilding trust in the investment sector and ditching the “bowler hat” image. What is the most encouraging advice market trend you are seeing at […]
HMRC is clamping down on remuneration schemes designed to avoid income tax and National Insurance You may have seen a bit in the financial news lately on the loan charge tax to be levied on payments received by employees through disguised remuneration schemes used to avoid income tax and National Insurance contributions. Those involved will […]
Jeannie Boyle talks making the link between money and emotions before taking the stage at the Money Marketing Interactive conference in April. What is the most encouraging advice market trend you are seeing at the moment? We are seeing more investors looking to align their portfolios to their values. Advisers are now more willing to […]
Ethical funds have been growing in popularity, with managers starting to address the demand Once a niche area, sustainable investing has become one of the hottest topics in the investment world. It has also become a bigger trend in the retail sector as more people, particularly the young and women, care about the type of […]
Debbie Gupta took over as co-director for financial advice and life insurance at the FCA last year. She will be taking a deep dive into where the regulator really stands when it comes to advisers with a presentation at our Money Marketing Interactive conference in April. Before taking to the stage, she discusses why she […]
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Ben Stapley, portfolio manager for the JPM UK Equity Growth Fund, discusses what has changed in markets over the last decade
Callum Abbot, Portfolio Manager of the JPM UK Equity Plus Fund, an active extension strategy, gives his views on markets over the last month.
Ian Butler, portfolio manager of the JPM UK Strategic Equity Income Fund, discusses UK banks
Amit Parmar, Investment Specialist, talks about the recent move in the oil price and why the energy sector remains attractive for equity income investors
In the wake of yesterday’s Parliamentary vote on the proposed Brexit deal, join Karen Ward, Chief Market Strategist for EMEA, as she assesses the outcome, impact on markets and potential next steps.
Last month, star manager Terry Smith announced he was throwing £25m of his own money behind a new investment trust, Smithson. Ahead of its launch, Money Marketing editor Justin Cash sat down with Simon Barnard and Will Morgan, the fund’s managers, to talk strategy, as well as their thoughts on some of the hottest topics […]
PFS chief executive Keith Richards, Threesixty managing director Russell Facer and financial planner Susan Hill sit down with Money Marketing editor Justin Cash to discuss what’s wrong with the FSCS, and how it can be reformed.
Welcome to the on-demand version of our latest Wired event: The politics of Brexit – What investors need to know. Exclusively for UK Edge members!
Welcome to the third instalment of our good life gurus series. We talk to Kate Shaw, an IFA and ultra runner, to find out how she got started with an exercise regime and how a healthy lifestyle helps her with her work-life balance.
Catch up with last week’s Money Marketing debate on what Labour would mean for financial planners with former pensions minister Steve Webb and three leading advisers.
FSCS levies are one of the biggest bills advisers have to pay. But how are they calculated? Watch our video to find out Advisers slam levy increases as FSCS bills hit desks Solving the FSCS’ long list of problems FSCS chief executive Mark Neale’s blog
UK investment bonds have, for too long, been overshadowed by alternative tax wrappers and the perception that tax within a life fund is a disadvantage. This thinking can automatically discount an investment solution that can be very favourable, especially when you consider the tax changes over recent years. UK investment bonds can offer the right […]
Trevor Greetham, Head of Multi Asset at Royal London Asset Management shares his 2018 & Q4 review. Volatility was back with a vengeance last year after a quiet 2017. Trevor reviews global investment returns over 2018 and explains why he starts 2019 with a relatively constructive view on stock markets. Read the review here Past […]
Read the latest thoughts from Trevor Greetham in our Investment Clock Strategy report ‘Premature recession fears’. An upturn in volatility remains apparent as Wall Street experienced one of its worst December’s since the Great Depression. Recession fears continue to rise and markets are pricing in this eventuality, but current sentiment readings are extremely depressed, the […]
At a time of extreme uncertainty, specialists from our fixed income team share their views on fixed income markets as we enter 2019 and discuss why they expect the recent volatility in markets to continue. Jonathan Platt, Head of Fixed Income, Ewan McAlpine, Fixed Income Product Specialist, and Head of Global High Yield Azhar Hussain […]
From DB transfers to Brexit: Steve Webb, Director of Policy and External Communications at Royal London, considers the big stories in pensions from the last 12 months. Transfers One of the dominant pension stories of 2018 was the large numbers of people taking advantage of pension freedoms to transfer money out of their defined benefit […]
Trevor Greetham, Head of Multi Asset at Royal London Asset Management, looks ahead to 2019 when it comes to investments. Market volatility picked up markedly in 2018 as global growth slowed, US interest rates rose and geopolitical stress intensified. Investing is about deciding which risks are really opportunities and which are best neutralised. While the […]
The Money Panel founder on helping women gain financial confidence and improve their relationships with money Understanding why women behave the way they do around money is important to The Money Panel founder Catherine Morgan. As a financial planner and financial coach who has had a difficult relationship with money herself, Morgan knows that being aware […]
Panoramic Wealth managing director on why a fusion of youth and experience is the best recipe for his advice firm Bridging the generation gap is the stuff of television sitcoms. There is the middle-aged parent convinced they are “down with the kids” but making a real hash of street slang and feigning knowledge of the latest trends. […]
Trentham Invest director on not tarring all DB transfers with the same brush and how Lego helps her clients We have all played with Lego bricks. We have built cars and houses, then taken them apart to construct something new. The beauty of it lies in how the only limits are your creativity and imagination […]