Two years on from the sunset clause, advisers remain concerned over client poaching and how platforms deal with clients they have deemed “financial orphans.” The FCA banned platforms from retaining rebates from fund managers in 2014, but allowed the payment of commission to advisers to continue. The introduction of the sunset clause in April 2016 […]
We were proud to publish a good practice guide on social impact investing last month as part of an initiative started by an independent advisory group chaired by Allianz Global Investors vice chair Elizabeth Corley. The group had been set up by the Department of Digital, Culture, Media and Sport to increase choice in this […]
The past few years have seen a rapid rise in the number of fund managers linking with risk profilers to launch new ranges. Determining risk is a central part of the advice process. But risk-profiling tools have been subject to criticism over the wildly different asset allocations they produce and their lack of consistency when […]
Technology provider Moneyhub will now use Intelliflo’s application programming interface for its advisers. Integration onto the API will allow for advisers to access real-time information of client’s managed pensions and investments. Advisers will also be able to link investments they manage and see clients’ spending and savings patterns. The Big Interview: Moneyhub chief executive on […]
AJ Bell is expanding its passive range to target a higher expected return for investors with a new global growth fund. AJ Bell launched its first range of own-brand funds last year with five risk-targeted multi-asset passive funds. The platform and Sipp provider said it has launched the Passive Global Growth fund in response to […]
Just over two-thirds of advisers expect most business to come from at-retirement clients with assets ranging from £100,000 to £250,000 this year, according to research from consultants AKG. The online survey of 100 advisers conducted in March looks at how advisers are dealing with the opportunities and challenges of pension freedoms. It is one of […]
Robos came under fire this week, with an FCA review finding serious failings in terms of suitability and disclosure. Adviser comments soon followed, praising the regulator for finally getting tough on automated advice. Here are a few extracts from the FCA: Some firms did not make clear whether their service was advised, non-advised, discretionary or […]
An internal investigation has found that a Fidelity International director did not bully or harass one of the firm’s employees. Legal action could still continue, however, as both the employee and company contest each other’s claims. Money Marketing reported last month that Fidelity had opened an investigation into a senior manager after an associate director […]
When grown-up children fly the nest to stand on their own two feet, their parents can take pride in a job well done. And although the apron strings have been cut the bond remains. It is similar for advice firm Telford Mann and its joint managing director Jon Telford, and the relationship with its former […]
It’s amazing how strongly the subject of commission still inflames adviser passions. The debate is obviously far more nuanced than many give it credit for. Legacy pensions flogged only because of the commission they paid can hardly be put in the same ballpark as vital protection products that simply would not be commercially viable to […]
Eight exchange-traded funds that prioritise environmental and social targets entered the market in May alone, according to the London Stock Exchange, driving record levels of flows into ESG strategies. LSE says 2018 has been a record year for passive funds prioritising socially and sustainable companies. A total of 31 ESG ETFs holding £3.97bn in assets […]
Retirement product provider Just Group has launched a digital platform that will offer transfer value analysis services. Just Group is starting the wholly-owned HUB Pension Solutions to provide support services for trustees, scheme sponsors and appointed advisers. The launch of the new services comes two months after the FCA’s policy statement on defined benefit transfers […]
A law firm is set to issue more than 30 cases against Liberty Sipp in what it believes is the largest number of claims issued against the provider to date. Anthony Philip James & Co alleges the Sipp provider is responsible for the misselling of Sipps between 2011 and 2013. It says it has up […]
The Association of Investment Companies will not be hosting the new key information documents on its website saying to do so would be irresponsible. Since 1 January, Priips legislation has meant advisers have to publish a stand-alone, standardised KID to their client including performance scenarios, risks, and the total cost of products. However, trade bodies […]
The Financial Services Compensation Scheme has paid out £5.7m so far to nearly 800 customers of collapsed discretionary fund manager Strand Capital. The payments were made to 796 investors over the past two weeks. The payments related to client cash only. The compensation was paid directly into customers’ self-invested personal pensions. An administrator’s report published in […]
After a record attendance for the London leg of our Money Marketing Interactive conference earlier this month, we are delighted to say that we will be returning to Harrogate in September. After a hugely successful launch last year, we are escaping the London bubble once more to bring you a top day of insight and […]
The Personal Finance Society has updated its guide on pension transfers from defined benefit to defined contribution schemes for advisers. This replaces the earlier good practice guide first published in February 2017 and registers a number of important developments in the market. These include the FCA’s consultation about advising on transfers and its supervisory work […]
An FCA review of automated investment advice has given a wake-up call to robo-advisers to meet the same standards as traditional advisers. Finance & Technology Research Centre director Ian McKenna says the regulator has worked hard with the industry to raise standards and he now hopes it can do the same with robo-advisers. He says: […]
Hundreds of Cofunds’ advised clients have been locked out of their accounts after being moved to the new Aegon platform over the first May bank holiday weekend, the provider has confirmed. In a statement, Aegon says there are around 400 advised clients who can’t access their account through the website. However, they can get access by […]
Chief executive at Royal London-owned platform Ascentric Jon Taylor has stepped down after more than three years in the role. Taylor is replaced by Rob Regan who is Royal London group operations director. According to the provider, Regan has been working on Ascentric for the past 12 months and also sits as a director on […]
When Selectapension stopped executing defined benefit pension transfer advice last year, eyes quickly turned to its key partner firm: CFPML. A previously unknown entity, the FCA reviewed CFPML as part of its work, and a little big of digging from Money Marketing uncovered it was actually a two-man band advice firm just down the road from […]
Many of my friends are ex-teachers, having retired from the profession. We were recently talking about how valuable the teachers’ pension scheme has been to them in building a decent amount to retire on and bemoaning the fact the next generations are unlikely to have such benefits provided through the generosity of their employers. Our […]
One week out from implementation, our research shows only around half of advisers are 100 per cent confident they are ready for the General Data Protection Regulation. GDPR represents the biggest ever change to how personal data is collected and handled. The fundamentals are quite simple: to give individuals more control over how their personal […]
I recently experienced an uncomfortable encounter, which led me to take a more difficult path than some of the easier options available. It followed several months of kicking the tyres on various back-office and customer relationship management systems. Most meetings with software providers left me feeling uninspired. You know how it goes: there is the […]
Fund managers like to trade off having a unique style. There thousands of funds out there to choose from – the question I often hear from advisers is: what makes this person different? Sometimes this can be a really tough one to answer. “We invest for the long term” is all fine and good, but […]
I apologise if you are bored of hearing about defined benefit transfers by now. Really, I do. There are plenty of times when I wish I didn’t have to dedicate hours of my day to covering negative developments in the market. But, yet again, I feel like my hand has been forced this week. New […]
The wrong people are paying the levy and the fund is not going to enough of the right consumers Consumers of financial services firms are not being given enough compensation when they are missold, misadvised or out-and-out cheated. Or, rather, not enough clients are being given compensation. We know that because, in most cases, they […]
The day on which my career as a marketer in financial services started back in 1987 also happened to be the day the stockmarket crashed. The people at the investment company taking me on as a graduate had no time to welcome me with a chat and a cup of coffee. They were trying to […]
There is so much diversity around us in business today. Each colleague has their own individual needs, skills, qualifications and expectations. Some people we will click with, but others can be more challenging. We cannot understand why they struggle with certain problems, or perhaps we think they are rushing things or being overly demanding. As […]
Thanks to the vast quantities of information now available, customers have the ability to make smart choices with speed and agility anytime and anywhere they want. Not only are they in charge and in full control, but they are also moving faster than most brands. Importantly, they do not differentiate between channels and touchpoints. But […]
One tends to see increasing specialisation in most services. Think of the building industry, for example, where there are specialists in roofs, drains, restoration and so on. In the old pre-RDR days, when advisers were paid by commission, they had little incentive to specialise and most would sell to anyone. Any smattering of specialist knowledge […]
The rise in IHT takings has prompted complaints around the new residence nil rate band’s impact
The ability to cascade funds tax efficiently down through the generations is a key driver behind demand for DB transfers
Gold prices historically have maintained a tight, inverse relationship with real yields on 10-year US Treasuries, but this relationship has weakened in the past year, suggesting the precious metal’s price is now being driven by other forces. Real yields are adjusted for inflation, so the real yield on 10-year US Treasuries, for example, is the […]
Last week’s Finovate Spring conference shone a light on the new ways of working required to reach the mass market
With implementation just around the corner, time is running out to get compliance right
A well-written, well-executed strategic plan is key to enhancing the value of an advice firm
Offsetting the cost of advice this way would benefit clients and advisers alike One of the multiple barriers to better take-up of financial advice is that some people are unwilling or unable to meet the upfront cost. In response to this, the government has allowed people to take small chunks (three lots of £500) out […]
With market instability expected to continue, advisers must ensure clients fearing short-term losses do not forfeit long-term gains “The value of your units may fall as well as rise.” We are all familiar with the risk warnings that have jumped to the front of any document linked to investment post Mifid II, but have we […]
Money Marketing obtains results from regulatory enquiry into what advisers are offering for their ongoing fees
All firms run the risk of being used by criminals for fraudulent activity, so it is vital to remain vigilant. Fraudulent emails are becoming more sophisticated and we recently became aware of a new scam targeted at financial intermediaries. The scam revolves around your client’s email account which has been hacked. You receive a request […]
Money Marketing crunches the numbers with Dynamic Planner to paint a comprehensive picture of average risk ratings around the UK.
Advisers can help clients make some substantial tax savings The beginning of April heralded a new tax year and this brings updated tax allowances. Some of these new allowances can offer little gems to create value for clients and launch wider conversations about retirement planning in general. One such allowance is the marriage tax allowance, […]
Brewin Dolphin group head of research Guy Foster explains how the company makes its investment decisions Do you take an in-house or outsourced approach to investment management? Historically, we are an investment firm, so the investment part of our proposition is central to what we do. Our clients benefit from financial advice integrated with investment […]
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Karen Ward discusses the Bank of England’s (BoE) decision to hold its base rate of interest unchanged at 0.5% at its meeting today.
Watch Andrew Robbens as he talks about how the high street has changed over the decades and gives his views on how adapting and changing will be the key to success for consumer businesses.
Money Marketing Editor, Justin Cash, and Helm Godfrey Chairman, Danby Bloch, sit down to discuss the outcomes of the recent local elections and the potential consequences for the UK economy.
Chris Skinner, portfolio specialist, takes a closer look at UK equity portfolios and finds that many funds have less exposure to UK companies than you may think.
Watch Joanna Crompton’s three short videos on investing with an Environmental, Social & Governance (ESG) approach to find out what ESG means, why it’s important, and how her team puts ESG investing into practice.
After our recent roundtable on investment committees we sat down with the attendees to find out what their key take-aways from the debate were.
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
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 […]
Investment bonds have many virtues and some restrictions. However, it is possible to get far more from them if you take the right approach. Why choose an investment bond? The use of different tax wrappers can produce different outcomes for investors and with increasing awareness and knowledge, advisers are seeking more variety in the assets […]
In addition to the standard nil rate band (£325,000), from 6 April 2017 each person is entitled to a residence nil rate band (RNRB) to use against the value of their home if it is left to direct descendants on death. Currently the rate is set at £100,000, to increase by £25,000 each year until […]
Read the latest issue Responsibility Matters, our quarterly newsletter update from our responsible investing team. This issue includes a focus on sustainable development goals, the effectiveness of some long-term incentive plans and how green bonds are still the tip of the iceberg. Read the article here Past performance is not a guide to future performance. […]
Matt Franklin, Credit Analyst at Royal London Asset Management discusses the possible benefits of integrating Environmental, Social and Governance (ESG) considerations into credit portfolios. He explains why ESG analysis combined with an appropriate approach from asset managers is key to unlocking these potential benefits. Read the article here Past performance is not a guide to […]
Sophie Johnson, Corporate Governance Analyst at Royal London Asset Management discusses growing concern regarding the alignment of pay in the UK with long-term, sustainable investment performance. She explains why our specialists are open-minded about considering alternative models when it comes to pay and shares an insight into our views and expectations on the matter. Read […]
With a record number of mortgages maturing, many of your clients may benefit from remortgaging. To help you identify new remortgage business opportunities in your area, we’ve updated our hotspot map. This uses nationwide data on maturing fixed-rate mortgages to show you the potential volume of remortgage business near you. Find out more at Scottish […]
Magenta Financial Planning managing director on the difficulties of diversity and promoting the profession There are a couple of misconceptions about Magenta Financial Planning. One is that it must be specifically targeting female clients because it has a pink logo; the other that because all its current staff are women, it must be a female-only firm. Not […]
Smart Financial chief executive on his lifestyle planning epiphany and how it led to his training academy Before becoming a certified financial planner in 2005, Smart Financial chief executive Steve Martin admits to not having the skills and tools to join the dots between what people had and what they wanted. With the certificate, everything changed. […]
Progeny Group managing director on the opportunities provided by Mifid II and GDPR to improve business You won’t find Progeny Group managing director Neil Moles complaining about the forthcoming General Data Protection Act deadline or Mifid II. Moles’ response is to embrace new legislation and use it to improve the firm. “Any legislation can be […]