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 […]
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 […]
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. […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 – […]
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 […]
Why it’s time to reconsider structured products
The FCA has drawn a blank on providing an estimate of the level of so-called “phoenixing” by financial advice firms. Phoenixing is the term used to describe the practice where directors of advice firms with impending complaints wind the firm down, so do not pay out on the claims, which then have to be handled […]
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 […]
Lloyds Bank has confirmed it will launch a new financial planning proposition for wealthy clients as part of its wealth and investment tie-up with Schroders. Money Marketing understands this is part of the bank’s focus on wider advice plans reported by the Financial Times last week. The bank will reportedly hire around 700 new advisers […]
Master trust provider Now: Pensions has responded to criticism from MPs about its charging structure in a letter published yesterday. Earlier in the month Labour MP Steve McCabe who sits on the work and pensions select committee criticised how Now: Pensions charges members. Now: Pensions charges members £1.5 per month for an administration fee and […]
Current chair of the Office of Legal Complaints Wanda Goldwag has been named as the new chair of the Financial Services Consumer Panel. The independent statutory body – which represents consumer views and reports to the FCA – has been chaired by Sue Lewis since 2013. Goldwag will take up the position from 1 March […]
The administrative cost of winding up collapsed British Steel IFA Active Wealth has come to £55,765 according to an update on Companies House. In February 2018 Active Wealth went into liquidation and attracted attention for its role in advising members to transfer out of their final salary schemes at British Steel. The update from liquidator […]
HSBC has remained quiet over potential plans to roll out its robo-advice service in the UK as the latest results show the global bank has seen profits rise. The bank axed its tied advice service ahead of the RDR, but has since returned with the roll-out of a simplified advice service. It then announced the […]
HM Revenue & Customs could face new claims from savers due to a ruling that says it was wrong to remove an individual’s lifetime allowance protection. The recently published case concerns Mr Hymanson who claims he had accidentally failed to cancel a direct debit to his pension scheme which, HMRC argued, should void his £1.8m […]
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 […]
Until every single firm acts professionally, there is a risk financial planning will not be considered as such from those outside it I was asked an interesting question by Money Marketing last week: “What one word or phrase do you think sums up the state of the financial planning profession today?” A number of potential […]
They are simple and cheap, but might not necessarily equate to better performance Passive investment strategies continue to gobble up market share. Why shouldn’t they? Active funds generally had a miserable 2018 and the majority of funds in the Investment Association UK All Companies sector lagged behind the FTSE All-Share index. For advisers, passives are […]
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 […]
Money Marketing recently hosted an expert panel debate on the future of DFMs. We caught up with Charles Stanley senior investment manager Louis Coke after the discussion to take a deeper dive into getting bespoke deals right and what advisers should look for in their perfect partner. Money Marketing will soon launch a one-stop shop […]
Protection Review chief executive Kevin Carr looks at recent market events Can protection market really be disrupted?Will a tech giant or global brand one day come in and disrupt the market overnight? And even if so, would much really change? Compared with other industries, not a lot has changed in protection. We put paper forms […]
Lessons can be learned from strategies for the super high-net-worth for clients right across the board As every adviser knows, no two clients are ever the same. Faced with a plethora of different assets, attitudes to risk, desired outcomes and personal situations, advising on how best to manage a portfolio is often a complicated jigsaw. Add […]
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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 […]
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 […]
Jane Smith Financial Planning director on managing her goals and developing a guidance service for clients Financial planners help clients achieve what they want from life and adapt the course of that journey when necessary. But how often do they follow their own advice when it comes to their business and personal objectives? Jane Smith […]