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 […]
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 […]
Providers wary of cost of mixing guarantees into drawdown products as talks results in lack of new products
At the end of the first half of the year, the bank’s PPI provision stood at £2.1bn
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 […]
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. […]
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 saw £1.2bn in net outflows from its global intermediary 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 intermediary arm with inflows of […]
With global growth and inflation starting to ebb, equities could encounter summer turbulence. But there is a case for adding to exposure on dips.
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 […]
The soon-to-be launched register is set to impose a more onerous reporting obligation on many trustees.
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 […]
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 […]
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 […]
FSCS ends up paying more than three-quarters of a million after FOS clears firm in overseas property investment complaints
Advisers question value of drawdown advice for low-value clients in new report
The former ABI director will start the newly created role in September
Assets under administration increased by 46.8 per cent from the 2015 result
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 […]
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 […]
Senior Managers Regime will ask advisers to allocate key responsibilities and certify competence every year
The future of the state pension hangs in the balance as policy and data are in flux
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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 […]
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 […]
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 […]
Trail is not a payment for service; it remains at best an inducement and at worst a bribe
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 […]
There are many options out there that will equip advisers with the skills and qualifications needed to become a specialist in the divorce market
Old Mutual UK Smaller Companies Focus manager has used fund’s size to add a number of holdings with a sub-£100m market cap
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 […]
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 […]
Advisers should make the most of the summer lull ahead of an expected flurry of activity in the pensions world come September
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, […]
News and expert analysis straight to your inbox
Sign up
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 […]
MM takes stock of the mega-merger set to shake-up the asset management industry
Money Marketing takes a look at where your regulatory bills go after the FCA released its latest levies this week.
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 […]
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 […]
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 […]
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 […]
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 […]
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: […]
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 […]
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 […]
The former IFP president on why she is looking to buy more firms and train up new talent at her new firm
Serenity head of financial life planning on providing a light at the end of the tunnel for clients
The chief executive on his retail sector-inspired plans to help investors make the right choice
