Committee shows particular concern over pension scams The Work and Pensions Select Committee wants evidence on whether there are gaps in the advice and guidance market and if customers are changing their behaviour after getting advice as part of its inquiry into the pension freedoms. The committee announced today it is opening an inquiry into […]
Sesame must pay compensation after a complaint involving one of its advisers and an investment in an unregulated property scheme. The client, Mrs H, complained the advice from the adviser at Echo Financial Planning, which was an appointed representative of Sesame until 2014, was unsuitable. As a Financial Ombudsman Service decision explains, in 2012, Mrs […]
The chief executive of Prudential’s advice arm has expressed concerns that the size of some defined benefit transfer requests could create mis-selling problems in the industry. Prudential Financial Planning began advising on DB transfers seven months ago. But PFP chief executive Chris Haines says he has put appropriate safeguards in place to ensure the company […]
Consolidation in the advice market is just beginning, but there is still a place for small, well-run advice firms. That is the message from Ascot Lloyd Bellpenny chief executive Nigel Stockton, who predicted more private equity firms will also invest in the market. Speaking at the Money Marketing Interactive conference last week, Stockton said: “My […]
Regulator has created a fiasco which is likely to lead to many complaints against it in years to come
M&G Investments is planning to drop the required sector allocation in its £2.1bn Global Basics fund as it eyes healthcare opportunities. The fund currently requires 70 per cent allocation to basic industries, such as mining and manufacturing, but wants to open up the fund to other industries. It has returned 14.4 per cent over the […]
How do you choose between active and passive? Is it art or is it science? Is it really one or the other? Many people approach this decision thinking the outcome is either one thing or the other. You either expect your manager will outperform or you don’t. You go 100% active. Or 100% passive. But […]
Fund managers and investment companies will have to disclose all transaction costs on workplace pensions from 3 January next year. New rules set out by the FCA will effectively mean those running defined contribution pensions have to comply with Mifid II and Priips legislation. These require investment companies to disclose indirect charges – such as […]
There are opportunities to take advantage of a child’s personal allowances and capital gains tax annual exemption when investing for them
FCA data paints a bleaker picture for gender diversity in financial services than recent studies suggest, as investment firms are urged to commit to a five-year plan to improve equality within their businesses. Speaking at an event for The Diversity Project, an initiative launched by former Newton Investment Management chief Helena Morrissey a year ago […]
Insurers worry about attracting new customers and bemoan the swathes of the public who should have cover, yet most refuse to engage with social media
The FCA has attempted to quell suspicion that its new Senior Managers Regime is trying to ensure compliance through more frequent fines and punishment for individuals. In a speech with morning, executive supervision director Jonathan Davidson says that while the FCA will still use its enforcement powers where it needs to, the purpose of the […]
Sipp providers are coming under pressure from a change in emphasis at the regulator, ombudsman and HMRC
Banned former network boss Charlie Palmer must pay a more than £86,000 fine to the FCA within two weeks, the regulator said today. The FCA published a final notice on 19 September, after Palmer’s appeal to the Upper Tribunal was unsuccessful, which says that his £86,691 fine must now be paid within 14 days. If any […]
The FCA has warned consumers a clone firm of Rathbones Investment Management which has been operating under the name of “Rathbones Brothers”. According to the FCA, fraudsters are using or giving out the details under the name of the UK wealth manager with a false email, website and phone number. The FCA warns that scammers may […]
FCA chief executive Andrew Bailey has urged the Government to take action on consumer credit as personal loans soar while wages fall. Bailey told The Guardian consumer credit is at the centre of the regulator’s agenda this year. UK households have amassed £200bn in unsecured debt and consumer credit is rising at a rate of just under 10 […]
A cursory glance at tax breaks, maximum investments and minimum holding periods would put EISs out in front. But do not discount VCTs.
Advisers say that FCA rules could be leading to too much caution on defined benefit transfers. While many are calling for greater clarity from the regulator, a new survey by Aegon shows that nearly three-quarters of advisers actually think the rules could be stopping some DB to defined contribution transfers that should go ahead. 37 […]
Aviva Investors and LGIM are among the panel on a new Government initiative to push green finance in the UK and implement recommendations from the Task Force on Climate-related Financial Disclosures. Climate change minister Claire Perry announced the initiative at the opening of Climate Week in New York saying the transition to a low carbon economy was […]
Choosing between active and passive investment strategies is not an either/or decision. Both have their place. The point is to deliver value to investors, says Ankul Daga, senior investment strategist with Vanguard Europe. Debate about the relative merits of active and passive investment strategies is perennial. But it has become considerably more heated in recent […]
David Cresswell argues some advisers have the wrong impression about the service The Financial Ombudsman Service’s strategy director has attempted to dispel a number of misconceptions he believes advisers have about the complaints adjudicator. In an interview with Money Marketing, David Cresswell also offers tips on how IFAs should approach their dialogue with the FOS. […]
The more clarity people have on what makes them fulfilled, the happier they will be. So what is the advisers’ role?
While autonomy and freedom of choice are critical to our wellbeing, there is a glitch: namely, our freedom to choose that which is not in the interest of our wellbeing. Hence the value in strong and clear advice. Back in the Garden of Eden, God pointed out the risks involved in investing in apples, given […]
In giving the financial services industry a monopoly over the word advice, the Government’s new guidance body spells trouble for consumers
How do you measure a client’s attitude to risk? Adviser technology companies have been coming up with increasingly sophisticated solutions to this problem at breakneck pace over the last few years as both computing and psychological knowledge has evolved. The answer to the question hasn’t changed though: it’s complicated. Because each client is an individual, […]
What would happen if you weren’t here next week? It is vital all business owners have a succession plan in place
The underlying cause of Northern Rock’s collapse, which triggered the financial crisis, was clear: weakness in board governance, product complexity, risky business models, executive behaviour and inadequate regulation. It was uncannily similar to the events leading to our collapse at Equitable Life in 2000. On the tenth anniversary of the financial crisis, we see some very […]
You do not have to be a doctor to know how important the heart is. But back in ancient Greece, you could be a doctor and still have no idea how important the heart was. Back then, doctors like second-century Greek physician Galen believed the liver, not the heart, circulated blood, while the heart circulated […]
Platform gurus have recently been opining on the FCA’s deluge of market studies; in particular questioning the point of the Investment Platforms Market Study. As Lang Cat consulting director Mike Barrett saw it: “You can’t help wondering whether the more detailed areas of focus are structured to prove (or disprove) a problem the FCA is […]
In those maelstrom couple of weeks between the snap general election being called and the publication of the manifestos, the Conservatives rushed together their thoughts on the difficult and complicated issue of how the one in six people that end up needing care in old age will pay for it. A measure intended to reassure […]
Today marks the release of my first print edition as Money Marketing’s new editor. Before I go any further, I have to say a massive thank you to the amazing Natalie Holt, whose huge shoes I am endeavouring to fill. She has been the driving force behind the great work Money Marketing has done in […]
I have largely stayed off Twitter this year, only occasionally dropping in to see what is happening. On recent visits, I have been taken aback by some of the terse exchanges between various factions of the advice community. It seems to me that, instead of expanding the range of knowledge and individual viewpoints, the internet (and […]
Manager Fraser Mackersie says flexibility and being more nimble than mammoth funds are among the key factors which have enabled the Unicorn UK Growth fund to outperform
Assets held on UK platforms represent over a quarter of the more than €2trn (£1.8trn) assets on-platform in Europe, according to Platforum data. The UK is the leading open architecture market for funds thanks to predominantly adviser-led distribution. In continental Europe, where distribution is bank-dominated, open architecture also picked up over the last few years. […]
Sentiment towards technology firms has not been this strong since the dot.com ere but the risks are significant
Facebook ads should be a crucial part of an advice firm’s strategy for increasing website traffic
We all have clients we have dealt with for many years; those who trust us and value the advice they receive. But what happens when these clients decide to move abroad and want you to continue advising them on their financial arrangements? This is an area that is not straight forward. There are a number […]
The MSCI Emerging Markets index returned 17.6 per cent in the seven months to July; impressive when compared with the 5.6 per cent generated by the FTSE 100 over the same period. Earnings growth has been steadily improving as well. Analysts expect the sector to continue to rally, benefiting from improving profitability, rising incomes and […]
Getting the tax fundamentals right can be a huge contributor to achieving investment objectives
The Senior Managers Regime represents a shift in focus from the regulator, with a broader risk outlook encompassing both regulated and unregulated business
Platforms are shooting themselves in the foot by not streamlining their systems with those of advisers
The costs of unlimited liability can be catastrophic, so advisers who are sole traders or in full partnerships should reconsider their position
Active managers that deploy robust ESG policies should find quality stocks rewarded
There are clues that can be gleaned about the prospects for the UK economy and equity sectors throughout this coming autumn term
Pressure on schemes to be more transparent and an upcoming change to EU law are expected to make pension transfer business soar
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Creating investment portfolios for clients is a key role for advisers. The choice between active and passive investment strategies is at the heart of this role. Ankul Daga, senior investment strategist at Vanguard, explains a framework for blending active and passive that can help you and your clients. Read more about the active/passive framework, as […]
FCA chief executive Andrew Bailey has just marked his first year at the top of the regulator. Money Marketing asks: Who is the man running the financial services show? Watch: Where do your FCA fees go?
Title: MM Wired: Beyond the election Date: Thursday 15th June Time: 11am Money Marketing Wired returned in association with The UK Edge on Thursday 15 June with a topical debate on the election results. To see the full on-demand version of this session, please watch the video above. Panelists Stephanie Flanders – Chief Market Strategist (UK […]
MM takes stock of the mega-merger set to shake-up the asset management industry
Looking to blend active and passive investment strategies? There are four key factors you need to know about, explains Ankul Daga, senior investment strategist with Vanguard Europe. Discussing the merits of active and passive investing with financial advisers, I am often surprised to discover how many are blending active and passive funds in their portfolios. […]
Advisers increasingly use DFMs as their investment partner. Cazenove Capital provides due diligence factors for advisers to consider when partnering with a DFM. Click here
By Mark Martin, Head of UK Equities, Neptune UK housebuilders have performed strongly in recent times, rising in excess of 400 per cent since the financial crisis. But with house price growth slowing and construction workloads decreasing, do UK housebuilder stocks represent a concrete investment? Read more Important information – For professional investors only. Investment Risks […]
Trevor Greetham, Head of Multi Asset at Royal London Asset Management, presents his latest video update, sharing his current views and the positioning of our multi-asset funds. Watch the video here Download The value of investments and the income from them is not guaranteed and may go down as well as up and investors may […]
In the past, some advisers have avoided the use of onshore investment bonds, and some still do. The image of bonds may have been tarnished in the past, however, the days of high allocations and commissions are gone. It is important to put these factors aside and look objectively at the benefits onshore bonds can […]
Kunal Desai, Head of Indian Equities, Neptune After three years of gains, does the Indian market still represent good value? Watch Kunal Desai discuss the impact of Modi and where he is finding the best investment opportunities today. Important Information Investment risksNeptune funds may have a high historic volatility rating and past performance is not a […]
Future Life Wealth Management’s founder Jillian Thomas on surviving a tsunami and building a brand
What is the purpose of money? This is a question that highlights the distinction between financial planners and advisers, according to Paradigm Norton chief executive Barry Horner. Horner, whose business was voted Adviser Firm of the Year at the 2017 Money Marketing Awards, says there is no point in growing wealth just for the sake […]
The DFP Wealth Management IFA on the desperate need for a new generation of advisers and existing firms’ role in helping them in
