The cost of financial advice can vary by as much as 1,000 per cent, according to research from consumer group Which? The study provided to the Sunday Times asked 108 financial advisers what they were likely to charge clients in three different types of case study. The most expensive quote for someone with £100,000 in […]
All investors holding money with Blackmore Bonds have now been issued their delayed interest payments for July, the mini bond provider has confirmed. Speaking to Money Marketing, chief executive Patrick McCreesh says investors holding Isas with the provider may have to wait until the end of today to see their funds clear. The confirmation of […]
The best buy list model is under scrutiny as the UK’s largest platform struggles with the suspension of one of its most popular funds If it ain’t broke – the old adage goes – don’t fix it. And on the face of it, there’s nothing much wrong with Hargreaves Lansdown as a business. HL has […]
Brewin Dolphin has continued its expansion in the Southeast with a new office in Royal Tunbridge Wells. The office will be managed by current Reigate office head Lee Clark, who will also continue to head up operations in Reigate. The office will be partly staffed by employees relocating from Brewin’s London and Reigate offices with […]
Fundsmith has poached Franklin Templeton’s Scott Shivers to serve as its new IFA sales director. Shivers was previously a business development manager from Franklin Templeton, and will take over marketing responsibility to advisers investing for retail and high-net-worth clients as part of Fundsmith’s customer relationship team. Shivers’ sales background also includes stints at M&G Investments […]
More education and practical guidance is needed when it comes to identifying and managing the needs of vulnerable clients, advisers say. Research from More 2 Life shows 75 per cent of advisers feel they need further information on spotting and managing vulnerable clients’ needs. Ahead of the FCA’s consultation on proposed guidance for firms and […]
Fund houses are having to seek temporary permissions to continue trading some funds in the UK market after the UK leaves the EU Like an angry rain cloud promising to burst Brexit looms on the horizon. When it comes to your centralised investment proposition, what are the major issues you need to consider before the […]
Chancellor Sajid Javid has distanced himself from talk that he was considering moving the onus of stamp duty from buyers to sellers. The speculation stems from an interview published by The Times on Saturday, in which Javid said concerning stamp duty: “I’m looking at various options. I’m a low-tax guy. I want to see simpler taxes”. […]
Tilney has confirmed that it is in exclusive talks with Smith & Williamson over an acquisition. The board of Tilney said in a statement this morning, that the discussions are “ongoing” and that there can be “no certainty that a transaction will proceed.” The statement follows media reports about the merger over the weekend. Tilney […]
I can only imagine how hard it is to illustrate your value as advisers when the subject of fees comes up. We are used to shopping around for a good deal, but while comparisons are pretty easy when buying a car or computer, professional services – and financial planning in particular – face a unique […]
FTSE 100 chief executives have seen their pay fall to its lowest level in five years, according to the FT. Deloitte analysis of filings in the latest season of annual general meetings shows the median pay for chief executives was £3.4m in the last financial year, down from £4m in the previous period. It is […]
Election fever hit India and Australia in May. The former, the largest democratic election in the world, resulted in a comfortable win for the incumbent – Narendra Modi and his Hindu Nationalist Party (Bharatiya Janata Party). Mr Modi comes from a humble background and this appears to have resonated with millions of voters aspiring to a […]
It’s never been more important to give clients the best possible outcome for a long-lasting income in retirement. Managing the balancing act between the varying risks clients could face in retirement with their individual income needs can be key to helping their funds last. LONGEVITY RISK RISKS ASSOCIATED WITH ENSURING APPROPRIATE INCOME LEVELS FOR CLIENTS […]
This year marks three decades since the Sipp first entered advisers’ vocabularies. Sipps have had an eventful history and given millions of savers a flexible way of planning for their retirement, with investment decisions entirely within their control. Looking back to 1989, it all started with the Budget, as then-chancellor Nigel Lawson introduced the Joint […]
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 […]
Tilney has reentered the race to acquire fellow wealth manager Smith & Williamson, according to reports. Smith & Williamson was in discussions with Rathbones over a potential deal in 2017, before Tilney upped the ante by putting in a bid of its own, according to Sky News sources. No deal was secured however, leaving Smith […]
The Upper Tribunal has found that Andrew Tinney, the former chief operating officer of Barclays Wealth, breached his obligation as an approved person to act with integrity. The update published on the FCA’s website today explains the reasons for the publication of the ruling. In March 2012, Tinney received a document which contained critical findings […]
The Financial Conduct Authority has announced six Q&A roundtable sessions to be hosted across the UK. The regulatory body will be going to Glasgow, Newcastle, Birmingham, London, Manchester and Newport. Each event, titled “ask the regulator”, will be 90 minutes long and will feature FCA and industry representatives. According to the FCA, the sessions are […]
Turkish army pension fund Ataer Holding is in exclusive talks to buy out British Steel. Ataer has signed an agreement with The Insolvency Service Official Receiver after several bids for British Steel were made, the Insolvency Service has announced. The preferred bidder Ataer has confirmed its intention to take on the steel making business and […]
Standard Life Aberdeen has confirmed timings and other details for its share buyback plan. In a stock exchange announcement this morning, the group, which houses platforms Wrap, Elevate and Parmenion, asset managers Aberdeen Standard Investments and Aberdeen Standard Capital, and financial planner 1825, said that purchase of shares would begin today, 16 August 2019, and […]
Litigation finance investors Burford Capital will undergo a shakeup of top staff as a battle around allegations of market manipulation and conflicts of interest heats up. The firm announced last night that City veteran Peter Middleton will step down as chair while chief financial officer Elizabeth O’Connell been replaced with Jim Kilman, a former Morgan Stanley […]
The chief executive of the Forces Pension Society, the military’s pensions watchdog, has backed calls to scrap the annual allowance taper. Speaking to the Financial Times, major general Neil Marshall says that the government’s current plans to introduce flexibility to the taper amid criticism it is causing high-ranking doctors to cut their hours or retire […]
Fraud helpline staff acting on behalf of police are trained to mislead victims into believing their cases are under investigation, and will be solved, The Times has claimed. The Times undercover investigation into Action Fraud, which is overseen by the City of London Police, found that staff at the call center, outsourced by the US […]
Nationwide Building Society has extended access to its later life lending products to all older borrowers. In April this year, the building society launched a range of mortgage products for existing borrowers approaching retirement. There are three different later life mortgage products available: a retirement capital and interest product, a retirement interest-only product, and a lifetime […]
Aegon intends to announce a new head of investments over the coming weeks it says will help strengthen Cofunds offering to advisers. The appointment will replace David Hobbs, who was Aegon’s managing director of investments and former chief executive of Cofunds. Dobbs left to join St James’s Place-owned discretionary fund manager Rowan Dartington in March. […]
As you would expect, being in my 20s, many of my clients are several years my senior and have had or are in the midst of successful working lives. As a consequence, getting this type of client to be confident that a young adviser like myself knows what’s best for their money is not only […]
There has been little development of the private pension system with the specific intention of making it gender neutral
Advisers must be more committed to updating their service proposition if they want to survive
It seems hardly a week goes by without reading the depressing news of another Sipp provider failure. With that comes the possibility of additional claims to the Financial Ombudsman Service and claims on the Financial Services Compensation Scheme. It may be only a minority of Sipp providers tarnishing the ‘Sipp brand’ at the expense of […]
The latest consultation on defined benefit transfers underlines the perils of default positions. In effect, transferring from a DB scheme is not thought to be a good idea for most. The key point in the consultation is the attack on contingent charging – many advisers have seen people reject sensible advice fees for a so-called […]
The life-changing impact good protection advice can have continues to be underestimated by many Reminding advisers of the responsibility they have and the change they can bring about by providing protection advice well is an ongoing necessity. This has recently been emphasised for me as we’ve been notified of so many customers sadly having to […]
Talking fees with clients can be difficult. Some clients willingly accept them while others challenge the proposed fees and want us to justify them for the advice we are giving. Therefore, I included a chapter on fees in my latest guide, Retirement Advice – An Art or a Science? I struggled at first to find […]
The Money and Pensions Service has arrived. And it’s here to fix all our money problems. This, I fear, is the big expectation that is building in the early days of MAPS’ existence. It is the big expectation against which MAPS can only fail to deliver. Don’t get me wrong, I am a big supporter […]
Apart from his longevity in this industry, one of the great things about Steve Bee is that he has always been willing to take on the role of agent provocateur. In the decades that he has been a commentator on pensions and other financial subjects, at Prudential, Scottish Life and now as director of Jargonfree […]
Another weekend, another Sunday Times dig at SJP. This time, the paper has got hold of a few internal documents that give us a better idea of what it takes to get your bonuses and overseas conference invites as an SJP adviser, as well as how SJP planners could present charges to their customers. The […]
We now have a new prime minister and YouGov research shows although Boris Johnson is the most popular Tory MP, just one in five expect him to be a good or great prime minister, compared to half who think he will be a poor or terrible one. Brexit issues dominate and within financial services media […]
‘Scheme pays’ can take the sting out of annual allowance tax charges, but scheme members must move quickly to take advantage With more than five months to go, the self-assessment deadline feels like a lifetime away. But for clients facing an annual allowance tax charge for the 2018/19 tax year on their pension savings, the […]
Protection Review chief executive Kevin Carr looks at recent market events A bright future for claim statistics The protection industry has published basic claim statistics for many years with varying degrees of success and recognition. These figures are often used by advisers, insurers and comparison sites as an indication of quality, but with so many […]
Our industry faces great challenges from creating solutions for new generations of investors to navigating rapid technological and regulatory change. However, by collaborating with industry partners and harnessing investment innovation, platforms can not only embrace these challenges but begin to introduce investment platforms to a broader client universe. This demand means not only an evolution […]
How the regulator has been using rule changes to address issues introduced with pension freedoms. In the weeks after former UK chancellor George Osborne announced the pension freedoms reforms in the March 2014 Budget, a consensus began to emerge within the industry – the FCA is not going to like this. For individual investors, the […]
Director of B-Compliant Vicky Pearce on how advisers can be future ready for the challenges ahead. Catch her speaking at the Money Marketing Interactive conference on 12 September in Harrogate. How can advisers show they are value for money? By educating clients as to the benefits of taking financial advice. After all, it’s not just about the […]
There’s lots to consider when advice firms are considering buying or selling a business but without achieving these things any acquisition faces poor odds The number and pace of intermediary firm acquisitions has, it is widely quoted, never been greater. Two interesting – if true – statistics appear to bear this out: There are possibly […]
The way providers contact clients about their retirement income options is significantly changing from November this year. Providers are going to be getting in touch with clients on a much more regular basis, and from a much earlier age, and will be clearly spelling out the risks they face. The change stems from the Retirement […]
Building ties with social care professionals can take time but is important for the care sector and worthwhile for advice firms The word ‘crisis’ seems to follow most references to social care funding. Even Boris Johnson recently used the term in his first speech as prime minister, with his pledge to “fix the crisis in […]
News and expert analysis straight to your inbox
Sign up
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
Trevor Greetham, Head of Multi Asset at Royal London Asset Management presents his review of Q2: Equities continued their stellar start to the year, despite a May sell-off, bonds performed strongly, but property is slowing. Read the article Past performance is not a reliable indicator of future results. The value of investments and the income […]
What price sterling credit? Despite narrowing sharply in recent months, Jonathan Platt, Head of Fixed Income at Royal London Asset Management argues that sterling credit spreads could narrow further, given dovish central banks and the ongoing hunt for yield. Read the blog Past performance is not a reliable indicator of future results. The value of […]
As President Donald Trump again uses social media to praise the record performance of US equity indices, Nersen Pillay, Investment Director at Royal London Asset Management investigates how stocks have behaved after earlier, similar Trump tweets. Read the blog Past performance is not a reliable indicator of future results. The value of investments and the […]
Jennifer Gilchrist, Protection Specialist, Royal London When it comes to the protection conversation, there’s a new trigger emerging that could help you target a different type of customer. Some advisers look out for homebuyers, while others look for the pregnant couples. But there’s a new protection trigger in town: our latest State of the Protection […]
“We don’t think the market is really giving Brazil a huge amount of credit for the new government & reforms that we’re starting to see.” Watch Thomas Smith, Fund Manager, argue why investors should not assume the Brazilian market is trading at a premium. Disclaimer: Investment risks This Fund may have a high volatility rating and […]
Read the latest Investment Clock Economic report from Royal London Asset Management’s Senior Economist, Melanie Baker. Trade tensions threaten the outlook, but stimulus looks set to help steer the economy away from trouble. Read the report Past performance is not a reliable indicator of future results. The value of investments and the income from them […]
Svenja Keller is on a mission to maximise her and her clients’ time in order to give the best advice possible Going paperless in the digital world sounds great. No bins overflowing with scrunched up wastepaper. No dog-eared documents so weighty they threaten to pull your arms out of their sockets. Technology has brought a […]
BRI financial planning director Hannah Edwards on diversity, giving back and women’s role in the industry
Advisers have traditionally doubled up as stock pickers and for Filip Slipaczek staying on top of the market is still central to the service he offers