More than 100,000 pension savers could face six-figure tax bills if guaranteed minimum pension requirements were equalised, a Freedom of Information Act request from HM Revenue and Customs shows. The request from Royal London shows that people with fixed protection against any past cuts in the lifetime allowance for tax-relief purposes could be invalidated if […]
Unbiased is investigating a potential scam which uses its directory service to target financial advisers to steal their data. The emails have been sent to advisers through Unbiased, in an apparent phishing scam. Informed Choice managing director Martin Bamford says IFAs have been approached by a supposed prospective client who sends advisers a link to […]
Debbie Gupta took over as co-director for financial advice and life insurance at the FCA last year. She will be taking a deep dive into where the regulator really stands when it comes to advisers with a presentation at our Money Marketing Interactive conference in April. Before taking to the stage, she discusses why she […]
A weekly account of the curious goings-on in the world of financial services Financial wing attackWSJ mused over the varying hobbies of financial services professionals a few weeks back and has something new to add to the tally: netball. We have long known Technology & Technical director and adviser Kim North is a fan of […]
Money Marketing recently hosted an expert panel debate on the future of DFMs. We caught up with Charles Stanley senior investment manager Louis Coke after the discussion to take a deeper dive into getting bespoke deals right and what advisers should look for in their perfect partner. Money Marketing will soon launch a one-stop shop […]
Around half of pension scheme members have limited understanding of their pension transfer or are unaware of who is giving them advice to transfer, according to research published today. The Pension Scams Industry Group, the voluntary body set up to support trustees and administrators combat pension scams, has published the results of a pilot study […]
Protection Review chief executive Kevin Carr looks at recent market events Can protection market really be disrupted?Will a tech giant or global brand one day come in and disrupt the market overnight? And even if so, would much really change? Compared with other industries, not a lot has changed in protection. We put paper forms […]
My favourite news story earlier this month came into my inbox from Money Marketing. The headline read: “Treasury pushes for gender diversity interventions after ‘slow’ progress.” Maybe it is because I am a female who has worked in financial services for over 35 years that the news resonated. Economic secretary to the Treasury John Glen […]
Legal & General has announced a tie-up with technology firm Origo to launch a new service to support advisers track the progress of client applications. The product known as Track My Apps is aimed at supporting advisers selling Legal & General’s retirement income range of products from fixed-term annuities to lifetime annuities. The online system […]
Octopus Group has appointed its former chief customer officer, Ruth Handcock, as chief executive of the investment business. Handcock will be the first new chief executive since Octopus was founded in 2000 and will lead the group’s investment business. She joined the company from of challenger bank Tandem in July 2018. CEO Simon Rogerson will […]
Lessons can be learned from strategies for the super high-net-worth for clients right across the board As every adviser knows, no two clients are ever the same. Faced with a plethora of different assets, attitudes to risk, desired outcomes and personal situations, advising on how best to manage a portfolio is often a complicated jigsaw. Add […]
What’s the news in protection? On the surface you could be forgiven for thinking there isn’t anything new, that protection is still generally being overlooked and undervalued. Figures from Royal London’s State of the Protection Nation Report show that just 35% of people have life insurance, 12% have critical illness cover and 9% have income […]
For generations, life expectancy has been steadily increasing, with more and more people now likely to live to 100. Scottish Widows’ pension expert Robert Cochran tackles this longevity landscape with economist and co-author of the book ‘The 100-Year Life’, Andrew Scott, in episode one of Scottish Widows’ new podcast series – “The Future of Financial Planning”. Click […]
We’re all living longer – half the future generation born after 2036 is expected to live to 100*. But despite more of us saving for our retirement, and from a younger age, there’s still a lot of work to do if we want our time in retirement to be both financially and physically healthy – […]
AJ Bell has launched a new managed portfolio service blending actively managed portfolios with its own passive funds. It is calling the option a ‘Pactive’ version of its MPS, and will invest half in its current set of activeley managed portfolios, and half in AJ Bell’s own range of passive funds. The risk mapping will […]
An increase in auto-enrolment contribution levels could knock hundreds of pounds of workers’ take-home pay, according to a new analysis. The BBC asked Hargreaves Lansdown to estimate the effect of the increase in auto-enrolment from 3 per cent to 5 per cent of salary from April will have on workers across the spectrum. With the […]
There are growing signs that positive lifestyle decisions taken now could lead to positive effects on mental capacity in later life. Vitality’s Deepak Jobanputra examines the emerging evidence.
Advisers must be able to trust their discretionary fund manager as decisions that backfire could still be the advisers’ responsibility, experts say. In the latest edition of Money Marketing’s series of live debates, MM Wired, gbi2 consulting director Graham Bentley, Signpost Financial Planning chartered financial planner Nigel McTear, Charles Stanley senior investment manager Will Walker-Arnott […]
The Royal Bank of Scotland will pay out up to £206m in costs to cover two FCA investigations into its provision of investment advice pre and post-RDR. Money Marketing reported the regulator was still looking into historic pensions and investment advice at the bank last October. Predecessor watchdog the FSA investigated investment advice offerings at […]
Schroders has appointed Georg Wunderlin to the newly created role of global head of private assets and will start work in May. He was most recently chief executive officer of HQ Capital, an alternatives manager and has 19 years of experience in investment finance. Wunderlin has also held a number of senior roles and will […]
Succession Wealth planner Mark Rogers has been appointed as the new president of the Chartered Institute for Securities and Investments’ Birmingham branch. Consolidator Succession bought Rogers’ firm in September 2016. He had previously traded under the Clay Rogers & Partners Ltd brand. Rogers, who has spent 37 years in financial services, was formerly chair of the Birmingham branch […]
More than 500,000 recipients of the UK state pension living abroad do not benefit from the triple-lock, the Department for Work and Pensions has said. The triple lock, introduced by the Conservative and Liberal Democrat coalition government, increases the state pension payments each year by the highest of average earnings, CPI inflation or 2.5 per […]
Earlier this week, Money Marketing hosted a live debate on how to outsource investment management while keeping clients at the heart of your advice business. Our expert panel, including Gbi2’s Graham Bentley, Signpost Financial Planning’s Nigel McTear and investment managers from Charles Stanley, discussed how advisers can keep control over their relationships and how DFMs […]
The inflation rate coming it at 1.8 per cent, a two-year low, has fuelled talk in some quarters of the Bank of England potentially reversing its recent direction and cutting interest rates. Adding fuel to this is the fact that, despite the Monetary Policy Committee minutes that covered the last interest rate decision saying that policy […]
National advice firm Foster Denovo has acquired Kent-based adviser Orchard Wealth Cultivation for an undisclosed sum. The group says the deal is the first in “a number of expected acquisitions for 2019”. Orchard founders Mike and Sally Wiggins will now join Foster Denovo and continue servicing their existing client banks. The agreement for the purchase […]
The factors that scared off DB pensions and suppressed annuity rates are still around. Will advisers feel the backlash when risks are more apparent? Recent developments in pensions have accelerated the transfer of risk away from employers and institutions, and on to individuals. But the chances are that advisers will still get some of the […]
Economic predictions for the coming year The crystal ball for the next few months appears particularly foggy. There are questions over how long the current economic cycle can last, along with no shortage of questions over politics and the path of interest rates. Currently, there are reasons to paint a pretty bleak picture – economic […]
I have just celebrated publishing episode 200 of my podcast. When I came up with the idea, most people did not even know what a podcast was. In case you still don’t, it is a radio show you can download and listen to whenever you want. A broadcaster friend of mine at the time warned […]
The trade body must spell out the kind of fast, aggressive, targeted regulation the industry needs It seems hard to imagine but this month marks 27 years since I started writing for Money Marketing. I still remember my first front page scoop: the merger of two financial adviser trade bodies into a single entity – […]
When MPs on the work and pensions select committee launched a probe into contingent charging last month, they were well aware its inquiry would split the financial planning community. Frank Field and his team want the practice banned, despite the fact half of advisers are estimated to conduct defined benefit transfers on that basis. Responses […]
It is not the markets that make mistakes, but investors. Advisers must take on their biases and change their approach accordingly As humans, it is in our nature to misbehave when it comes to money and investing. That is just what we do. The average person carries round a suitcase full of biases ready to […]
A marketing-driven organisation is run by the marketing department. It revolves around what marketers do. A market-driven organisation is driven by what the market wants, regardless of what the marketing department feels like doing. Now, of course, there are organisations driven by sales, shareholder relations, operations and finance too, and you can usually tell which […]
Until every single firm acts professionally, there is a risk financial planning will not be considered as such from those outside it I was asked an interesting question by Money Marketing last week: “What one word or phrase do you think sums up the state of the financial planning profession today?” A number of potential […]
They are simple and cheap, but might not necessarily equate to better performance Passive investment strategies continue to gobble up market share. Why shouldn’t they? Active funds generally had a miserable 2018 and the majority of funds in the Investment Association UK All Companies sector lagged behind the FTSE All-Share index. For advisers, passives are […]
I read with interest Alistair Cunningham’s column in Money Marketing at the end of last year, “chartered status has been cheapened”. Thomas Carroll IFA was named Chartered Financial Planners of the Year in 2009, the first time this prestigious title was awarded. We still take great pride in this accolade and can talk at length […]
Helena Morrissey, head of personal investing at Legal & General Investment Management is talking on a panel about the culture of financial services at the Money Marketing Interactive conference. Here she explains why we need a fresh look at personal finance and how it should be considered part of a person’s well being. What key […]
Being the dedicated adviser to the employees of local businesses will boost your reputation and grow your firm Taken at face value, the roles of financial planner and HR officer may not appear to have much in common. Yet, the two can dovetail perfectly in some situations. The most obvious benefit is when it comes […]
Will transparency increase or will new rules hit roadblocks? Beating the benchmark is the shared goal of most fund managers, and comparing a manager’s track record with their benchmark tends to be the way we assess performance. But is benchmarking the best way to measure a fund’s success and the manager’s value? Earlier this month, […]
Jupiter’s national development manager Chris Johns will be taking a deep dive into the bond market at the Money Marketing Interactive conference in April. Ahead of his presentation, he talks why advisers are so in demand, and why life planning isn’t just a value add. What are the keys to winning over more consumers to […]
What Australia’s Royal Commission has told advisers down under After 14 months of investigation, the final report from the Australian government’s Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was tabled in parliament last week. The 1,000-page document includes 24 recommendations for Australia’s corporate and prudential regulators to tackle misconduct better. […]
Michael Klimes and Hope William-Smith unearth the way IFAs are charging clients for transfers and if clients are being short changed
In trying to keep up with the big picture, it is easy to lose track of smaller – but still important – changes to legislation Financial planning is important. And financial goals are important. Goals are important to the success of any endeavour, of course. How can you hope to achieve anything of value if […]
The road to recovery A tricky sector to perfect, could emerging markets be the place to invest in 2019? Emerging markets can be a rather complex space. It can cover a vast variety of countries, markets and sectors. Despite this, investors remain keen. As of November 2018, the Global Emerging Markets sector had £24.8bn in […]
Confronting the darkest topics seems to be the way forward as financial advisers try to tackle the intergenerational gap Financial advisers should draw on aspects from traditional family office models to help hold on to clients across generations, leading advice market experts have said. By smoothing clients’ intergenerational wealth transfer, advisers can secure their clients’ […]
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Callum Abbot, Portfolio Manager of the JPM UK Equity Plus Fund, an active extension strategy, gives his views on markets over the last month.
Ian Butler, portfolio manager of the JPM UK Strategic Equity Income Fund, discusses UK banks
Amit Parmar, Investment Specialist, talks about the recent move in the oil price and why the energy sector remains attractive for equity income investors
In the wake of yesterday’s Parliamentary vote on the proposed Brexit deal, join Karen Ward, Chief Market Strategist for EMEA, as she assesses the outcome, impact on markets and potential next steps.
Welcome to the first episode of our newest video series on the UK Edge. Andrew Robbens walks us through J.P. Morgan’s UK Equities fund range in preparation for deep dives on individual funds coming in the new year.
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
UK investment bonds have, for too long, been overshadowed by alternative tax wrappers and the perception that tax within a life fund is a disadvantage. This thinking can automatically discount an investment solution that can be very favourable, especially when you consider the tax changes over recent years. UK investment bonds can offer the right […]
Trevor Greetham, Head of Multi Asset at Royal London Asset Management shares his 2018 & Q4 review. Volatility was back with a vengeance last year after a quiet 2017. Trevor reviews global investment returns over 2018 and explains why he starts 2019 with a relatively constructive view on stock markets. Read the review here Past […]
Read the latest thoughts from Trevor Greetham in our Investment Clock Strategy report ‘Premature recession fears’. An upturn in volatility remains apparent as Wall Street experienced one of its worst December’s since the Great Depression. Recession fears continue to rise and markets are pricing in this eventuality, but current sentiment readings are extremely depressed, the […]
At a time of extreme uncertainty, specialists from our fixed income team share their views on fixed income markets as we enter 2019 and discuss why they expect the recent volatility in markets to continue. Jonathan Platt, Head of Fixed Income, Ewan McAlpine, Fixed Income Product Specialist, and Head of Global High Yield Azhar Hussain […]
From DB transfers to Brexit: Steve Webb, Director of Policy and External Communications at Royal London, considers the big stories in pensions from the last 12 months. Transfers One of the dominant pension stories of 2018 was the large numbers of people taking advantage of pension freedoms to transfer money out of their defined benefit […]
Trevor Greetham, Head of Multi Asset at Royal London Asset Management, looks ahead to 2019 when it comes to investments. Market volatility picked up markedly in 2018 as global growth slowed, US interest rates rose and geopolitical stress intensified. Investing is about deciding which risks are really opportunities and which are best neutralised. While the […]
Panoramic Wealth managing director on why a fusion of youth and experience is the best recipe for his advice firm Bridging the generation gap is the stuff of television sitcoms. There is the middle-aged parent convinced they are “down with the kids” but making a real hash of street slang and feigning knowledge of the latest trends. […]
Trentham Invest director on not tarring all DB transfers with the same brush and how Lego helps her clients We have all played with Lego bricks. We have built cars and houses, then taken them apart to construct something new. The beauty of it lies in how the only limits are your creativity and imagination […]
Jane Smith Financial Planning director on managing her goals and developing a guidance service for clients Financial planners help clients achieve what they want from life and adapt the course of that journey when necessary. But how often do they follow their own advice when it comes to their business and personal objectives? Jane Smith […]