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Old Mutual and Royal London pour cold water on guaranteed drawdown launches
Providers wary of cost of mixing guarantees into drawdown products as talks results in lack of new products
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SJP keeps ‘cautious’ stance on DB transfers as adviser numbers surge
St James’ Place says it is still cautious about defined benefit transfers despite seeing an increase in enquiries. This morning, the firm reported net inflows of funds under management of £4.3bn for the six months to 30 June, up from £3.1bn for the same period in 2016, but says that one of the potential drivers […]
Clive Waller: Why the FCA focus on platforms?
Back in 2003, we conducted a piece of work for JP Morgan FundsHub. The work was set out by the estimable David Moffat, then their marketing director. Among one of David’s many prescient questions was: “Will platforms become the back office or will back office systems become the platform?” Some 14 years later, that question […]
The FCA on suitability and where next for DB transfers: Our top five picks at MMI Harrogate
What is Money Marketing Interactive? Money Marketing Interactive is our flagship conference and comes to Harrogate for the first time in September following a great event in London earlier this year. It is all about delivering Money Marketing in a live format and bringing advisers together to debate how best to evolve the advice profession. […]
Pete Matthew: Human skills are in an adviser’s DNA
This is a rewrite of this column. I had finished a piece about my capacity issues at Jacksons and the lack of talent available to fill the needs of the business, particularly down here in Cornwall. But it felt a bit whiny, so I have started again. Instead, in thinking about the staffing needs of […]
Lisa Winnard: Why working closely with your team is key
We live in a world of unrelenting change, with economic and political agenda, global mobility or social and technological trends all driving adaptations to the way we work. Gone are the days of business as usual. During a recent leadership challenge session, I asked our leaders and future leaders what one thing they would change. […]
Schroders sees £1.2bn in net adviser outflows
Schroders saw £1.2bn in net outflows from its advised business in the first half of the year despite an overall increase in assets under management. In its half year results, published today, the asset manager says flows into its institutional and wealth management channels offset the outflows in its adviser arm with inflows of £1.4bn […]
Trevor Greetham: Why investors should buy summer stockmarket dips
With global growth and inflation starting to ebb, equities could encounter summer turbulence. But there is a case for adding to exposure on dips.
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Pensions regulator levies another fine as scheme fails to hand over information
The Pensions Regulator has fined a local government pension scheme manager for failing to submit its scheme return. In the latest in a series of fines flexing TPR’s muscles, the regulator has levied a £1,000 bill on the London Borough of Barnet scheme manager for part of the Local Government Pension Scheme for England and […]
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Tony Wickenden: What you need to know about HMRC’s new Trusts Registration Service
The soon-to-be launched register is set to impose a more onerous reporting obligation on many trustees.
Lloyds to pay £283m in redress over mortgage arrears errors
Lloyds Banking Group has set aside £283m to pay redress to around 590,000 customers for mortgage arrears errors. Lloyds will refund all fees for arrears management and broken payment arrangements from 1 January 2009 to January 2016. Mortgage customers involved in litigation with Lloyds over that period will also be refunded any litigation fees that […]
Rudd: Door will be open for EU talent post-Brexit
Home Secretary Amber Rudd has attempted to reassure businesses that they will still be able to hire top European talent after Brexit. Rudd, writing in the Financial Times today, appeared to soften the Government’s rhetoric on migration by attempting to allay fears of a “cliff edge” for businesses once Brexit is complete. Rudd writes: “Over […]
ETF tops US equity sector with twice the return of actives
An ETF has doubled the returns of the average active US equity fund, becoming the top fund in the sector over a 10-year period, analysis from BMO Global Asset Management shows. The £1bn Powershares EQQQ Nasdaq-100 UCITS ETF has delivered 364.6 per cent over the last 10 years compared to 160.7 per cent for the average […]
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FSCS pays out £750,000 over Harlequin IFA
FSCS ends up paying more than three-quarters of a million after FOS clears firm in overseas property investment complaints
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Drawdown advice on pots under £100k unviable, advisers say
Advisers question value of drawdown advice for low-value clients in new report
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FCA pensions boss Maggie Craig gets Scotland role
The former ABI director will start the newly created role in September
FNZ doubles profits after scoring big name platform projects
Assets under administration increased by 46.8 per cent from the 2015 result
UK GDP growth ‘muddles through’ as latest data lands
UK GDP growth has “muddled through” in the second quarter hitting 0.3 per cent, according to the Office for National Statistics’ first estimate. In line with consensus expectations, the figures are a slight improvement on the previous quarter. The UK delivered GDP growth of 0.2 per cent in Q1 and was the worst performing economy in […]
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FCA predicts £547m cost to industry from Senior Managers Regime extension
The FCA expects the extension of the Senior Managers Regime to cost the financial services industry at least £547m in up front expenses. In a consultation released today, the FCA confirmed its plans to roll out similar rules as those that currently apply to banks to nearly all financial services firms. Firms including advice businesses (provided […]
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FCA reveals how it plans to extend Senior Managers Regime to advisers
Senior Managers Regime will ask advisers to allocate key responsibilities and certify competence every year
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Transact cleared as pension transfer complaints upheld against ReAssure
Two complainants said ReAssure and Transact contributed to the delay of their funds being transferred
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Paul Lewis: Can we afford the state pension?
The future of the state pension hangs in the balance as policy and data are in flux
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Reassure: Why we signed up to the CII commitment
What practical steps have you taken since signing up to the commitment to ensure professionalism standards are met? As the administrator of one of the largest and most complex legacy books in the UK, it is critical all our 2,000 staff – and not just those who are customer facing – are highly competent with […]
HCL: Why we signed up to the CII commitment
What practical steps have you taken since signing up to the commitment to ensure professionalism standards are met? As an outsourced service provider to some of the UK’s largest life and pension providers, I was delighted when I joined in April as COO to see that HCL IBS (Insurance Business Services) had signed up to […]
CII: Professional standards collaboration is key
For many consumers, pension reforms have ushered in a whole new approach to the way they think about retirement. Providers have become a vital point-of-contact for millions of consumers seeking clarity and support. As the main professional body for the life, pensions and long-term savings sector, the CII recognises it has a role to play […]
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CII: Standards framework a commitment to consumers
As you might expect of a professional body, instilling confidence and trust in our sector lies at the heart of what we do. It is this responsibility that inspired the development of the 2016 Life, Pensions and Long Term Savings Professional Commitment. With the interests of consumers front of mind, we sought their feedback during […]
Professional commitment: Proving the point on trust
The Chartered Insurance Institute is encouraging providers of life, pensions and long-term savings products to sign up to its professionalism commitment, which aims to boost professional standards across the sector. The idea is by signing up, providers pledge to operate policies that encourage high quality standards of customer service, embed the principles of treating customers […]
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Blog: Calling out Which? on its SJP advice probe
Having a go at St James’s Place has become something of a sport among consumer journalists over recent months. Trade journalists too, are far from immune from embarking in a spot of SJP-bashing should the opportunity arise. In the adviser space, this is because it is written into adviser folklore that most, if not all, […]
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Adrian Boulding: We need a property portal for pensions
I stopped to look in a local estate agent’s window recently and was surprised to see they persist in covering up the prices of sold properties. That was common practice when I bought my first house 30 years ago but it was all about protecting the mystique that estate agents were the only ones that “knew […]
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Ian McKenna: How to beat the banks as they re-enter advice market
The recent disclosure by the FCA that Lloyds, NatWest, Nationwide and Santander have all been involved in projects with its advice unit is a clear indication banks are aiming to use digital as a route back into the advice market. It is important advisers prepare for their impending return. I am sure most will say the […]
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Steve Webb: How do we overcome advice scepticism?
Readers of Money Marketing will not need much convincing that paying for advice is one of the best investments a person can make. But how can you convince a sceptical public quite happy to pay solicitors or accountants but somehow reluctant to do the same when it comes to their personal finances? A recent piece […]
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Graham Bentley: Trail casts an ugly shadow over advice market
Trail is not a payment for service; it remains at best an inducement and at worst a bribe
Could passives overtake actives’ market share?
Experts have questioned whether passive investing could eventually dominate over active, as reports warn of big fund houses quickly expanding their foothold in global indices. Bank of America Merrill Lynch recently flagged that active managers could be faced with a potential “ETF-ization” of the S&P 500 as US giant Vanguard doubled its stake in the index since […]
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How advisers can tap into the £500m divorce market
There are many options out there that will equip advisers with the skills and qualifications needed to become a specialist in the divorce market
Fund of the month: The small-cap strategy that packs a punch
Old Mutual UK Smaller Companies Focus manager has used fund’s size to add a number of holdings with a sub-£100m market cap
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Three ways to ensure the fair treatment of vulnerable clients
The FCA has recently updated Occasional Paper No. 8, within which it explains a vulnerable consumer as such: “… someone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care.” The focus on this area seems to be continually increasing. So what […]
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How a little known change to top-slicing could affect clients
When it comes to clients with investment bonds, advisers have several techniques up their sleeves to avoid unnecessary taxation and charging. But one of these tactics – top-slicing – has become slightly less productive for offshore bonds in certain situations thanks to a little known change by HM Revenue & Customs which went under the […]
Andrew Tully: Get ready for a busy autumn for pensions
Advisers should make the most of the summer lull ahead of an expected flurry of activity in the pensions world come September
Phil Bray: Perfecting your web presence for the Age of Google
I remember giving a presentation to a group of advisers a couple of years ago. The subject was one I can happily speak about at length: how advisers can create effective websites. My audience were an extremely positive and engaged bunch. All except for one chap at the back. While others listened carefully, he sat there, […]
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MM Wired: Beyond the election – On demand
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 […]
Standard Life/Aberdeen merger: What we know so far
MM takes stock of the mega-merger set to shake-up the asset management industry
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Watch: Where do your FCA fees go?
Money Marketing takes a look at where your regulatory bills go after the FCA released its latest levies this week.
Watch: Danby Bloch on what advisers should expect from the Budget
Ahead of the Budget tomorrow, Money Marketing editor Natalie Holt speaks to Helm Godfrey chairman and Platforum consultant Danby Bloch about the backdrop to Chancellor Philip Hammond’s first Budget speech. Bloch discusses the expectation around changes to National Insurance contributions and income tax, and the implications for the self-employed. He also gives his thoughts on […]
The What of Trusts: Discounted Gift Trust (part 3)
Helen O’Hagan, technical manager at Prudential, has produced a third article in the trust series range exploring discounted gift trusts (DGTs). These can take different forms, but in this article she looks at a ‘standard’ DGT and will cover: W – why use a DGT H – how to use a DGT A – access […]
Is there value left in Europe and, if so, where?
By Marcus Morris-Eyton Having been out of favour for a number of years, European equities are finally seeing the return of investors. However, with Europe having outperformed the S&P 500 by 6.3 per cent in US dollar terms for the year to date (as of 13/06/2017), how much outperformance potential is left? To answer this question […]
Positioning of the Investment Clock and the Royal London Global Multi Asset Portfolios (GMAPs).
Our monthly update from Head of Multi Asset, Trevor Greetham on the positioning of the Investment Clock and the Royal London Global Multi Asset Portfolios (GMAPs). The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get back the amount originally […]
Defined benefit schemes: Part 2
Justin Corliss, business development manager In defined benefit (DB) schemes part 1, we looked at recent guidance aimed at DB scheme trustees and sponsors. In part 2 we will look at guidance available to pension transfer specialists (PTS). In the first instance, PTS should familiarise themselves with COBS 19. All guidance below is designed to […]
European materials and the asymmetric opportunity
Rob Burnett, manager of the Neptune European Opportunities Fund, discuss the political and economic factors driving European equities today. With potentially tighter monetary policy on the horizon and record valuations for defensive stocks, Rob believes that there is an asymmetric opportunity to the upside for value strategies. Click here to watch the video Rob discusses: […]
Where can investors find income in a changing world?
Why taking a global approach not only diversifies risk but also allows investors to access a far wider choice of yields. The diversification benefits of investing globally are well known. But as this short animation explains, taking a global approach can also help investors seeking income. By combining exposure to both bonds and equities spread across a […]
Behind the Headlines: Callum Abbot on the UK election and what next for the Trump bump
In this edition of Behind the Headlines, Money Marketing editor Natalie Holt talks to Callum Abbot, fund manager in the UK equities team at JP Morgan Asset Management, about the impact of the UK election on markets and the investment opportunities presented by Brexit and President Trump. Abbot discusses his forecasts for sterling in the […]
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Profile: Marlene Outrim on acquisitions and solving recruitment problems
The former IFP president on why she is looking to buy more firms and train up new talent at her new firm
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Profile: Serenity’s Squibb on helping clients through emotional roller coasters
Serenity head of financial life planning on providing a light at the end of the tunnel for clients
Profile: The Share Centre chief talks tough on new products
The chief executive on his retail sector-inspired plans to help investors make the right choice
