The FCA chief executive Andrew Bailey has said the regulator will look at how quickly the Hargreaves Lansdown platform acted to remove the suspended Woodford Equity Income Fund. The flagship fund was suspended on 3 June after the fund came under scrutiny by industry experts due to rapid outflows and underperformance in recent months. During […]
Personal Finance Society chief executive Keith Richards has said the FCA’s data on defined benefit data is not representative and risks spooking the public and insurers. Last week, the FCA said it would step up its supervision of DB transfer advice as its fresh data showed a significant majority of clients were being told to […]
A group of billionaires in America have written a letter to presidential candidates calling for the super-rich to face a new wealth tax. The signatories include some of the richest people in the US, from investor George Soros and Facebook co-founder Chris Hughes, to Molly Munger, daughter of Berkshire Hathaway vice chairman Charlie Munger. While […]
The government must urgently publish its green paper on social care as 90 per cent of over 65s have no plan for social care funding, the Association of British Insurers says. The ABI argues a massive new campaign is needed to raise awareness of social care funding based on polling research from Populus alongside analysis […]
The FCA’S interventions in to the mini-bond marketing of London Capital & Finance’s are under the spotlight, according to FCA chief executive Andrew Bailey. He made the point while giving evidence to the Treasury select committee about the watchdog’s work practices. Bailey was questioned on the lessons the watchdog has learned so far about the […]
The challenge is not just about getting the right people, but keeping them interested The success of advice firms has presented them with something of a dilemma. Many have grown their client banks significantly, which they now need to service and retain, while at the same time looking after the needs of new customers. And […]
Three quarters of advisers feel the defined benefit transfer market is struggling to match supply with demand and work effectively, research shows. Figures from Aegon found two thirds of surveyed advisers who currently provide DB advice say there are not enough specialists to meet customer demand. These figures follow the FCA’s reveal of a recent […]
The Pensions Regulator’s new chief executive Charles Counsell has outlined how the watchdog will ensure savers are treated fairly in his first major speech today. Counsell who took up his post in April was speaking to delegates at the Pension Benefits UK conference. He explained how the pensions landscape has changed and what the regulator […]
At Royal London, we understand everyone’s different. That’s why our protection plans aren’t ‘one size fits all’. Our range of flexible cover options give your clients choice, so you can help them get protection that’s as individual as they are. Comprehensive menu plans You can use our Personal Menu Plan and Business Menu Plan to […]
The Treasury will look at whether the regulatory framework around mini-bond investments is suitable following the collapse of provider London Capital & Finance earlier this year. According to Reuters, junior finance minister John Glen flagged the finance ministry’s involvement in the ongoing case in a letter to lawmakers published on Monday. Glen says the Treasury […]
Paul Niven – manager of the F&C Investment Trust – discusses the state of the world economy and assesses the prospects for markets from here. Following the significant correction in the final quarter of 2018, the first three months of this year saw broad-based positive returns for almost all asset classes, led by equities. Despite […]
Capital is at risk. We live in a world of 24-hour news with information feeding instantly to screens that bombard us from walls, desks and our phones. As a result, we’re increasingly connected to the wider world we live in – a trend that’s broadened our perspectives in some ways but can narrow them in […]
If only we had a crystal ball, investing would be so much easier. Particularly in the past year, it has often seemed as if uncertainty is the only certainty for asset managers, advisers, and their clients. Amid geopolitical developments and a slowing global economy, an increase in market volatility is a significant possibility. That’s why we […]
In 2018, Scottish Widows paid out 98% of all claims, helping 9,499 customers and their families*. But what do these figures really mean to your clients? Psychologists refer to the term ‘statistical numbing’ to explain why we tend to find one person’s personal story more powerful than abstract statistics. So, this year, Scottish Widows are […]
Openwork is looking to hit 40 new protection and mortgage adviser appointments this month after poaching a new recruitment manager from rival network Intrinsic. Michael Cauchois joins as regional recruitment manager for the south, having spent a year and a half as Intrinsic’s southern regional director and two years as a business development manager for […]
Members of the Personal Finance Society can now mentor and be mentored by other members from anywhere in the world on a platform called Connect launched today. The tool was built to promote professional development and learning for personal finance professionals at any stage of their careers. The industry body says mentorship can be undertaken […]
Robo-advice platform Wealth Wizards has appointed ex-managing director of digital consultancy Accenture as chairman. Scanes Bentley has served as non-executive director at Wealth Wizards since 2017. He was managing director at Accenture between 2012 and 2014. The company said in a statement: “As a former partner and managing director of both the financial services and […]
A growing number of solutions target specific risks, but the onus is on advisers to combine them Planning clients’ income in retirement can be one of the most difficult tasks advisers undertake. The risks have been well documented: falls in portfolio values, client longevity, inflation and sequencing risk, to name just a few. We have […]
Pensions are a brilliant product, and the success of auto-enrolment offers a tremendous opportunity for the industry to explain the advantages to millions more workers. However, campaigns to educate, enthuse and engage savers have simply not materialised. Traditionally, pension products were sold to individuals or employers by intermediaries. As such, providers have had little experience […]
The later life lending market is expected to almost double by 2029, according to data collected by more 2 life. The firm says that by the end of this year, lending is anticipated to reach £295bn, with this figure expected to rise to £548bn by 2029 – growth of of over 85 per cent. Despite […]
Fresh research into the gender pensions gap shows that 34 per cent of women claim not to have a pension plan, while the figure for men is just 17 per cent. Figures from Willis Owen states that of the women without a pension, 41 per cent have no intention of starting one, while the figure […]
The FCA has come under fire from campaigners for handing a key role in its inquiry into the treatment of small businesses by RBS to an investment banker. The Times reports that the FCA feared it did not have sufficient expertise in commercial lending, so decided to appoint an external consultant to its investigation into […]
Former Liontrust founder James Barham will take over as chief executive of River and Mercantile as the firm looks to put its troubles of recent months behind it. Barham is currently deputy chief executive of River and Mercantile, and will step up to the role of chief executive at the start of next month. Barham, […]
The FCA has fined Bank of Scotland £45m for failuring to disclose information about its suspicions that fraud may have occurred at its Reading-based Impaired Assets team. An update published today explains the context of the fine which dates back to the beginning of the financial crisis in 2007. Bank of Scotland identified suspicious conduct […]
Openwork’s in-house asset manager Omnis has named Jupiter Asset Management as the new manager of its £317m Omnis Income & Growth Fund. The decision comes after it had removed Woodford Investment Management from the mandate at the beginning of month. The advice network said that Jupiter, which already manages Omnis’s Emerging Markets and European Equity […]
So, British Steel has been placed in compulsory liquidation, following the breakdown of talks between its owner and the government. It only seems a short while ago we were dealing with the last crisis for the company’s beleaguered pension scheme members. Back in 2017, they were given inadequate help as they tackled the decision about […]
Millions of people are in desperate need of advice, but solutions look thin on the ground Last week saw the news that the BBC will restrict the over-75s’ free TV licence only to those who receive pension credit from next June. Just a few days before, it was announced chief executive of the new Money […]
Be prepared for storms this summer Financial markets have prominent bull and bear factors at the moment. There was a tremendous rally in equities in the first part of the year, following the Federal Reserve’s more dovish stance, as well as the expectation that the US and China would agree a trade deal, and even […]
New FCA report shows revenues and firm numbers are rising The financial adviser market looks to be in rude health, judging by the FCA’s latest report on retail intermediaries. If you have not yet taken a look at the report, it is well worth doing so. It offers a great insight into what has been […]
I’ve said it before and I’ll say it again; it’s a good time to be a discretionary fund manager. Provided, that is, you stay modern and relevant. We’re at a stage where some think demand for DFMs has peaked; all those life planners who wanted to make the switch to outsourcing investments post-RDR have already […]
I have never been a great fan of daytime television, despite the worst possible occurrences of man flu over the years, but the recent news coverage on the employment status of veteran presenter Lorraine Kelly got me thinking. In particular, about just how long the “self-employed” status will remain a robust and safe position to […]
Important points to consider when evaluating the suitability of a buyer and comparing offers Much has been written about what buyers are looking for in advice firms, what due diligence is likely to be required and how to prepare for a sale. But much less is said about being on the other side of the […]
Demand for advice is on the rise and every effort must be made to recruit more people into our industry. Not only are we set to face a busy period for investment advice in the run-up to Brexit, and in light of increasing trade wars and market volatility, but the demand for pension transfer advice […]
These companies should ensure their systems and controls address recent issues found by the regulator Last month, the FCA published its findings into a review of how principal firms in the investment management sector understood and complied with their responsibilities in respect of their authorised representatives. The firms covered a diverse range of regulated businesses, […]
At Intelliflo’s Change the Game conference this morning the company announced a range of initiatives that will have far-reaching positive impacts across industry processes, practices and pricing. Intelliflo founder and chair Nick Eatock started by giving an update on the eAdvisers index the firm launched at last year’s event. This measures how successful firms are […]
Succession planning continues to dominate the minds of advice firm owners. How to we ensure clients stay looked after when the heads of the firm leave? Having reached around 80 staff, Paradigm Norton, the financial planning firm with offices in Bristol, London and Torquay, has felt this pressure as acutely as any other. This week, […]
A weekly account of the curious goings-on in the world of financial services Ads too close to home The issue of how companies use social media to advertise their products to unsuspecting people has long been a topic of debate. While it is clearly a clever algorithmic decision to advertise products based on search history, […]
This article first appeared on Money Marketing’s DFM Centre. Visit the site now to see more exclusive research and analysis across outsourced investments Data trawl reveals that discretionary fund managers are hoovering up more assets, while profits remain healthy The boom time in the discretionary fund management market is far from over, Money Marketing’s latest […]
New research into the behavioural aspects of saving will help clients identify and articulate goals more clearly Few things are more important to a financial planner than understanding a client’s objectives, and this is an area Morningstar has been doing a lot of valuable work in lately. At recent events in London and Chicago, its […]
As more people mix pension income with earned income, phased drawdown is growing in importance There is no doubt the nature of retirement is changing. People are increasingly considering different ways to transition to it from full-time work, with many choosing part-time work or a consultancy career. This is being driven by several factors: the […]
London’s access to wealthy clients and location can mean setting up a firm comes at a cost The capital city may not really be paved with gold, but it has more than its fair share of wealthy clients for advisers to service. Known as a place where people’s careers and businesses can thrive on the […]
The need to look beyond traditional sentiment indicators has changed Over the past few years, a wave of populism and protectionism has swept across many developed markets. Events such as the Brexit vote and the US presidential election in 2016 have had large and long-lasting effects: the US-China trade war, UK parliamentary upheaval around Theresa […]
Most who get advice are satisfied, but how do you quantify what a great financial plan is worth? Advisers in the post-RDR world are keener than ever to prove that the benefits of sound financial advice extend well beyond where client money is invested, contributing something special that those simply getting guidance cannot benefit from. […]
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Neil Joseph has been on the trading desk since 2010 and at J. P. Morgan for 17 years, but in 2019 what are the day-to-day realities for traders? We got the chance to join Neil in the office for a day to find out more about the true variety and depth offered by the role.
Following the outcome of the European elections, Karen Ward, Chief Market Strategist for EMEA, will update us on her latest thoughts regarding Brexit and the impact on UK markets. She will consider whether a new prime minister or the prospect of a general election changes the outlook.
Katen Patel, portfolio manager, discusses the case for equity income
Welcome to the on-demand version of our latest live Wired debate. In this debate Justin Cash hosted Katen Patel, Heather Hopkins and Graham Bentley as they took a deep dive into the current state of play and future of small and mid-cap investing. Watch it now!
Kyle Williams, manager of the JPM UK Equity Growth Fund, talks Brexit, biases and behavioural finance.
Join us at 10am on the 24th of May for an exciting discussion on small and mid-cap investments.
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
China is set to attract more foreign capital, which could have big implications for investors in EM debt. China’s economy dwarfs most of its emerging market peers, but it has not traditionally attracted foreign capital flows commensurate with its vast size. That may be about to change. Two key drivers are leading China to hoover […]
2019 has already seen some high profile dividend cuts from UK companies. In our UK equity income webinar Senior Fund Manager, Richard Marwood, will discuss themes around these cuts, what steps income investors can take to try to avoid high yield “value-traps” and give an update on current performance and positioning of the Royal London […]
Will Kenney, Senior Fund Manager, presents the latest video update from our global equities team. Will discusses the importance of value and highlights the growth/value conundrum facing investors. With this trend likely to continue, Will explains how the team’s established stock picking process aims to navigate this issue and uncover investment opportunities. Watch the video […]
Old assumptions on the traditional link between emerging market debt and the greenback are being challenged, writes Liam Spillane, Head of Emerging Market Debt at Aviva Investors. For investors, it can be tempting to rely on established relationships in markets. In the last decade, for instance, market rallies have often been a function of central […]
Thomas Smith talks reform in Latin America, compelling valuations and accelerating growth at Rathbone Investment Management’s London offices. Watch the video here In the video, Tom discusses: Why he expects Brazil’s economic recovery to accelerate in 2019 How a change in the political landscape is paving the way for accelerated growth across the region The […]
Trevor Greetham, Head of Multi Asset, shares his latest update on the positioning of our Global Multi Asset Portfolios (GMAPs), as we fast approach the longest business cycle expansion in US history. At this late stage of the cycle, Trevor sees a fairly balanced picture, highlighting both positives and negatives. Watch the video Past performance […]
Belmayne partner explains why his firm has signed up to the new voluntary code of good practice for DB transfers It is a fact of life that while some people want to help the vulnerable, others will see them as easy targets to exploit for personal gain. In the financial services sector, it is the […]
Watson Wood Financial Planning director on the benefits of the vocational training route over student debt Deciding whether to go to university or not is a big decision, given the levels of debt that it could entail. Young people who are trying to get a foot in the door of their chosen career need to […]
John Lamb managing partner on freeing the profession from a sales culture to encourage more female advisers Some people use the term “ivory tower” to mock those in privileged positions, who they feel have no understanding of what it is like to live in the real world. However, when John Lamb managing partner Paula Steele […]