Addidi Wealth and Informed Financial Planning were among the top advice firm winners at last night’s Money Marketing Awards. Leading lights of the profession gathered in London for the glamorous ceremony hosted by comedian Hal Cruttenden. The Money Marketing Awards recognise those who have reached the top of their fields, from investment and retirement advice […]
The R03 personal taxation exam has the lowest pass rate of all the R0 papers. What are the key hurdles to overcome?
The government has rejected a recommendation to introduce default decumulation pathways saying it would be inconsistent with pension freedoms. In April the work and pensions select committee published a report on pension freedoms where it proposed ways outcomes for savers could be improved. Among the recommendations, the committee said every drawdown provider should offer customers a […]
Italy’s recent election can be important for goings on in the rest of the eurozone
The Pensions Regulator has fined a trustee £15,000 for failing to report unpaid pension contributions. Smart Pension, which runs the autoenrolment.co.uk master trust, did not tell TPR that nearly 500 employers had not paid nealry £900,000 of contributions that were due. Smart Pension also did not tell members about the problem. TPR suspends trustee after […]
Three fund selectors explain what makes a choice investment for those seeking diversification
Another year, another sterling display of excellence at the Money Marketing Awards. Having been invited to take part in the judging process for the prestigious Financial Adviser of the Year award, I’ve spent a number of hours pondering the question, what are the traits of an outstanding advisory firm? Here are four areas the more […]
Former Sesame Bankhall chief executive George Higginson and ex-HSBC global head of wealth insurance Geoff Brooks have launched a discretionary fund manager. Alpha Beta Partners offers a range of actively managed and passive portfolios investing in ETFs, investment trusts and direct securities. The business was originally launched last year by Kevin Doran under the name […]
How networks and national advisers firms are adapting to heightened FCA scrutiny on DB transfers
A life expectancy tool that assesses longevity based on information including a health assessment from a qualified nurse is aiming to help advisers with defined benefit pension transfer advice. The FCA introduced a rule this year that advisers making a recommendation on a DB transfer must plan for a client living a “reasonable” period beyond […]
Discretionary fund manager charges have come under increasing scrutiny since the FCA launched its platform market study in July last year. The regulator is currently looking at the role of DFMs in the value chain to see if their charges are justified, with the results expected to be revealed later this summer. Money Marketing has […]
St James’s Place advisers were “very active” in the promotion of cash equivalent transfer values during a consultation to close a defined benefit scheme at British Airways last year. A letter published by the work and pensions select committee sheds light on the activity of advisers when BA consulted members about the closure of the […]
The Bank of England’s Monetary Policy Committee has voted to keep interest rates on hold at 0.5 per cent, but with an increased number of members calling for a rate rise. Chief economist Andy Haldane has joined those calling for a rise. The BoE revealed that six members voted to keep rates on hold, with […]
Pension transfers hit a record of £10.6bn in the first quarter of this year, according to Office for National Statistics data. The figures show the value of pension transfers in 2017 was revised up £2.5bn to £36.8bn. AJ Bell senior analyst Tom Selby says: “The Q1 2018 figure also likely includes a large number of […]
The average fund size advisers give advice on is just over £59,000 though many still advise on lower pots, Prudential research has found. Almost half (43 per cent) of the advisers polled say they do not have a minimum pension fund cut-off point for their services. Advisers also say clients are increasingly vulnerable to scams […]
Judges have questioned the FCA over why it chose to pursue a junior trader rather than going after more senior staff in its Libor-rigging probe. An Upper Tribunal ruling yesterday poses challenges over former UBS trader Arif Hussein’s pursuit by the regulator. The ruling describes Hussein as “relatively junior” and says he only took part in […]
National financial planner Lighthouse has renewed its deal to provide advice to members of not-for-profit foster carers support association FosterTalk. The 20,000-member organisation has extended its deal for Lighthouse to provide retirement planning, mortgage and investment advice to its members for another three years until May 2021. So-called “affinity partnerships” are becoming key to Lighthouse’s […]
The government will not rush into a “single saving intervention” for self-employed workers because such a move could be counter-productive, Pensions minister Guy Opperman says. In a letter to work and pensions select committee chairman and MP Frank Field, Opperman says testing and understanding what works is critical to any good intervention. Opperman was responding […]
St James’s Place is positive about the growth of its 250-strong academy despite reporting a loss in its advice arm for 2017 earlier this month. The restricted advice giant posted a loss of £35.4m for 2017, an increase on the £24.8m loss in 2016. A breakdown of SJP trainees provided to Money Marketing by the […]
Hermes Investment Management has unveiled a new ESG investing tool to help its fund managers assess a fund’s carbon performance and risk. Hermes says the tool assesses the carbon risk of an investment fund relative to its benchmark and of listed companies with their peers. The tool will also be used for client reporting to […]
Consolidator Succession Group is changing its model for buying advice firms as it eyes larger acquisitions. Money Marketing understands the change will see acquisitions fully completed in an initial transaction, with firms no longer having the option to take shares in the group. It is understood other offers will be made. Succession has acquired 51 […]
Once upon a time, almost every adviser entered the profession via major banks and providers. These players encouraged staff to take professional exams, providing a rich seam from which firms could mine an endless stream of young candidates keen to move into the more demanding independent advice sector. Once RDR took effect, we lost that […]
I have lost track of how long financial planners have lamented the lack of new blood coming into the profession. While reports of the number of advisers who would leave the sector due to the RDR have turned out to be greatly exaggerated, I take the point that the average age of financial planners isn’t […]
Sitting beside the pool in Rhodes last week, I was surprised and rather pleased to hear a conversation between two fellow holidaymakers about protection insurance. Both men were self-employed and one was talking about how he struggled last year when off work due to an injury. The other was telling him about this insurance he […]
I have been giving a lot of thought to assumptions. It is generally accepted they should be reasoned, reasonable and adequate, and it is preferable the client approves as well. But being overly accurate or detailed with assumptions gives a perception that a plan is more determinate than reality. If reality is more positive than […]
We must support each other more in our different roles. After all, we both exist for the same reason Why do financial journalists exist? I am sure that it is a question many IFAs ask, especially when they read things they think are wrong, dangerous or fail to end with “find a good, qualified financial […]
Sometimes in business you can have an exceptional year and, provided you do not take it for granted, all is good. Allowing expenses to match an unsustainable increase in revenue is asking for trouble. As the claims deadline for PPI draws closer, it is clear the ambulance chasers will be looking elsewhere to continue the […]
A lot of recent work in the pensions world has been aimed at helping individuals engage with retirement saving: to better understand what they have already, how much they might need and what they will have to save to reach their target levels. The pensions dashboard project and the Pensions and Lifetime Savings Association’s work […]
Is industry right to think dashboard will boost engagement when inertia has proved such a dominant behaviour? The pensions dashboard concept has captured the imagination of the government and industry, and the attraction is obvious. Digitalise all existing records so individuals can see their aggregated pension entitlements in once place at the click of a […]
Hands up who likes looking stupid? No, me neither, though the sub-textual retort of my wife’s eyebrow, raised in my direction (or rather the direction of the Cuban heels on my new boots) screams “you could have fooled me”. She may have a point, but there is a difference in questionable sartorial choices and foolishness […]
An awful lot of time is being dedicated to asking platforms to justify their existence, particularly in light of various botched re-platforming projects. But the point gets convoluted. Alongside those who question why certain platforms exist in the first place, there is debate around who they serve and how they should be paid for more […]
Understanding a pension can be difficult. For those who need help, a conversation with a real person makes a huge difference. We are working hard to make sure everyone can have that conversation with an expert, whether they need guidance or advice. The Single Financial Guidance Body, set to launch in the winter, will offer […]
A rise of sustainable passive funds sparks new trend among trackers Sustainable investing has historically been associated with active management. But passive strategies can also incorporate environmental, social and governance criteria, and the growing flows into passive ESG investments are evidence that an increasing number of investors believe in the merits of a passive approach […]
Can you go from zero to planning hero? New recruits are not entering the advice industry at the rate required to meet the growing need for service, despite strong salaries and job satisfaction. A joint report from recruitment consultants BWD and Money Marketing earlier this year showed average adviser earnings soared to £93,100 in 2017, […]
Planning strategies to make the most of the residence nil rate band
Advisers have one-in-10 chance of being spot checked, regardless of whether they have been previously
The Office of Tax Simplification wants to avoid making piecemeal changes, which risk adding further layers of complexity
Phoenix needs to demonstrate how it will shed its bad reputation from a technology perspective
Launched just last month, new protection player Guardian has yet to prove itself. But from what we can tell so far, we like this new approach. Some small but important details have been radically improved and, although the definitions still run to many pages, there is an overall theme of simplicity, with clients front of […]
While advice firms can outsource activities, they cannot outsource their responsibilities Advice firms are busier than ever, leading an increasing amount to turn to third parties to undertake activities that would have once been dealt with in-house. Outsourcing can provide a solution for those under pressure to deliver on long-term objectives, while juggling the day […]
Protection Review chief executive Kevin Carr looks at recent market events Power to the people Now in its third year, the Protection Distributors Group has recently launched its “Claims Charter”, which aims to improve the basic levels of best practice undertaken by insurers when dealing with claims. Over the last two years, the group has […]
Will a fund manager parent be good for Intelliflo?
Three considerations for investors in the region It is no secret that China’s financial markets have gradually been opening up over the past decade. With the inclusion of domestic A-shares in MSCI’s emerging market indices this year, 2018 could potentially be a watershed year for the country’s growing influence on financial markets. For now, this […]
The government’s Office of Tax Simplification has set its sights on pensions, Isas and life assurance bonds
A detailed look at the how the Sipp market is evolving as legal and regulatory pressures mount
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Levels of merger and acquisition (M&A) activity have historically moved with the stock market. Zach Chadwick, an analyst within the J.P. Morgan Asset Management UK equity team, looks at how this cycle has been no exception and discusses some common behavioural biases.
Amit Parmar looks at the recent surge in oil price and its impact on UK equity income investors.
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.
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 […]
Helen O’Hagan, Technical Manager at Prudential, looks at some of the options to help fund the cost of going to university. An exciting time for children but not so much for their parents if they have not made financial provision to plan for this expense. And expensive it is! Not only the major items like […]
Thomas Smith, Co-Head of Emerging Market Equities, Neptune An interview with Reza Moghadam, who spent more than twenty years at the IMF, where he shares his views on Argentina’s negotiations with the IMF… https://www.realworldinvestors.com/Posts/Team-Talk/2407 Investment risksThe value of an investment and any income from it can fall as well as rise as a result of […]
Rob Burnett, Head of European Equities, Neptune Investors are asking themselves if the sovereign debt crisis has returned to Europe. The major question being, is Italy going to leave the euro? How can we assess these probabilities? The latest Eurobarometer data on Italian public opinion is useful, particularly when compared to the UK and […]
Ali Unwin, CTO & Fund Manager, Neptune Neptune’s Ali Unwin reports back from one of Amazon’s 16 UK fulfilment centres: 400,000 square feet of warehouse space, miles of conveyor belts and 1,500 full-time employees to keep it running 24 hours a day. https://www.realworldinvestors.com/Posts/Team-Talk/2403
Royal London Asset Management will be participating in a historic green infrastructure project that will add essential capacity to the capital’s sewers. In this article Gail Counihan, Responsible investment Analyst explains the project and introduces two key participants, Ursula and Millicient. Read the article here Past performance is no guide to the future. The value […]
In the latest comment from our ‘gilt corner’ Craig Inches, Head of Rates and Cash at Royal London Asset Management looks at risk returning to markets, with sovereign risk beginning to rear its head across the globe. He also examines the gilt market closer to home and comments on the issue of one of the […]
Strategic Solutions director Allan Cruse on the value of extra skills and specialist knowledge
New Worldwide Financial Planning managing director on getting his feet under the table and keeping robos in their place
LEBC chief executive says advisers must change the way they let people interact with them It seems logical for businesses to consider widening access to their services if they want to grow. Some might explore a new region to broaden their reach geographically. For others, offering a range of services that cater for different customer […]