Sipp and defined benefit transfer complaints to the Financial Ombudsman Service have dipped slightly in the first three months of the financial year. FOS publishes complaints data on a quarterly basis running in line with its financial year. In Q1 2019 – April to June – it received 178 complaints about occupational pension transfers and […]
The FCA has continually “fobbed off” concerns that firms are directly poaching each other’s clients, complainant from an advice firm = has told the Complaints Commissioner. The complainant, classed as a sole trader, says the regulator should have acted when they complained their clients were poached by a larger IFA firm, Firm X. The poaching […]
Advisers used to worrying about clients hitting lifetime limits on pension tax relief or focused on tax planning for clients with seven figure estates may be surprised to hear it could be useful to discuss the humble state pension with clients. But if the response to the recent state pension webinars I have hosted is […]
Having recently had an occasion to claim on a general insurance policy, for contents, I was struck by a number of aspects for this type of protection that simply had not occurred to me before. Firstly, I really should have read the terms and conditions and coverage provided by the contract. Secondly, the adage ‘you […]
Planning businesses have steps they can take to defend against the risk challengers will upend the market Every so often the industry conversation returns to the threat of margin compression – fancy language for the fact you may not be able to charge so much in the future. For financial planning businesses, the 1 per […]
Money Marketing’s Harrogate conference on 12 September will see Jupiter’s Chris Johns host an in-depth workshop on the role of income in an increasingly global market. Here, he looks at where the UK stands with Brexit and why its all about “research, research, research” for advisers. How long can current dividend levels in the UK […]
Where and how the newly-formed government could introduce tax and fiscal changes So we have a new prime minister and a new chancellor of the exchequer. We had an indication, before his confirmation as leader of the Conservative party and thus as PM, that Boris Johnson generally favours a low-tax environment. While campaigning to become […]
Solving risk management problems might not sound like the most natural career path for an avid football fan and Manchester United supporter. But that’s exactly where head of retail multi-asset funds at Legal and General Investment Management Justin Onuekwusi ended up in his first foray into the financial services profession, after he was encouraged by […]
Technology could be a saving grace for young people with tough financial options, but it is far from a safe bet It’s fair to say we are all aware of the house-buying crisis facing millennials, or, if you really want to annoy them, ‘generation rent’. House prices in some parts of the country are so […]
Net outflows from equity funds increased again last month, marking a return to a flight to safety for investors. Morningstar data for July shows that £1.6bn flowed out of equity funds, while fixed income funds saw net inflows of £428m. Sentiment on the UK market was particularly weak, with UK equity fund withdrawals accounting for […]
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 […]
The Rothschild brand has been used again by scammers in the latest case of well-known names being abused in “clone firm” cons. The FCA has published a warning on its website over a firm calling itself Rothschild Financial. The regulator notes the firm is “in no way associated with Rothschild & Co Group of Companies.” […]
The world’s largest pension fund lost money across equities, fixed income and currency positions in the most recent quarter, Bloomberg reports. The chief investment officer of the $1.5trn (£1.2trn) Government Pension Investment Fund of Japan is also warning that synchronisation across global markets now means all managers risk investment losses across asset classes. Bloomberg reports […]
The government is considering pushing back the announcement of both the new Bank of England governor and its next Budget until Brexit has passed, Bloomberg reports. The news agency cites a person familiar with the matter as saying new chancellor Sajid Javid may not reveal Mark Carney’s successor until after the UK’s supposed EU departure […]
Ahead of his workshop of market volatility at the Money Marketing Interactive conference next month, Tavistock’s Connor Stewart answers the big questions on central bank policy and how to cope when the downturn hits Are investors diversified enough for when the bear market hits? Financial markets move in cycles and we are approaching the end […]
Investor sentiment has been knocked by the prospect of a no-deal Brexit, a poll from Interactive Investor shows. The survey – of 404 savers at the beginning of August – shows 41 per cent say they have an investment strategy in place and are sticking to it despite the ongoing uncertainty surrounding the UK’s exit […]
Former Aegon head of platform distribution Martin Coyle has resurfaced at investment research and management firm Morningstar. Coyle, who is well known to advisers from his frequent conference and speaking appearances, has taken on the role of head of UK business development at Morningstar, having left Aegon earlier this year after a review of its […]
First-time buyer numbers were up in London, Scotland, Northern Ireland and Wales during the second quarter, the latest figures from UK Finance show. The capital saw the smallest increase in first-time buyer mortgage completions of all four regions covered by the data, with a rise of just 1.2 per cent year on year to 9,960. […]
Tatton Investment Management has poached from Brooks Macdonald as its investment team undergoes a restructure. The discretionary manager, which is part of the Tatton group that also owns adviser support services company Paradigm Consulting and mortgage club Paradigm Mortgage Services, has hired Brooks investment manager John Messer and ex-IBM consultant Adam Rawling as an analyst. The […]
Hargreaves Lansdown executive Jessica Miller will depart the firm to head up proposition at Schroders and Lloyds’ new financial advice joint venture. Millers spent seven years with Hargreaves Lansdown, most recently as lead proposition manager. She will start her new role with Schroders Personal Wealth this month, reporting to chief commercial officer David Lawrence. Lawrence […]
Hargreaves Lansdown independent non-executive director and investment committee chair Jayne Styles will step down from the board on 10 October 2019, as she will not seek re-election at the company’s annual general meeting. The fund supermarket said in a stock exchange statement yesterday that it does not intend to seek an immediate replacement for Styles […]
Wealth manager WH Ireland has appointed former Ofgem chief executive Alistair Buchanan as a non-executive director. Buchanan was formerly a partner at KPMG after training as an accountant there. He will serve on WH Ireland’s audit, risk, nomination and remuneration committees. Buchanan currently chairs the strategy committee and sits on the audit committee as a […]
Investing time in building a team is the smartest way run a business even if you are keeping it small We advisers are a fiercely independent bunch. We all have our ways of working and generally we don’t take too kindly others telling us what to do. That said, I’m known to raise my head […]
The regulator has said conflict of interest caused by contingent charging for DB transfers makes it an unsuitable fee model in most cases The FCA will let customers lose up to £2bn on mis-advised transfers out of final salary pension schemes before it stops the conflict of interest known as contingent charging. I have railed […]
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 […]
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 […]
Details of proposed tax policies that could end up in the Labour party’s next manifesto Labour’s draft plans for the taxation of property and related proposals have received surprisingly little attention, considering how radical they are. In these politically febrile times, a general election followed by a Labour government led by Mr Corbyn is eminently […]
Ballooning western debt issuance at negative yields is making for increasingly dysfunctional capital markets It took over two years for 10-year US Treasury bond yields to more than double from their 2016 lows, as reasonable growth and rising US short-term interest rates pushed yields higher. But it has taken less than a year for those […]
Money Marketing recently launched a brand new partner site, the DFM Centre. But what’s it all about, and why should you visit it? Here’s editor Justin Cash with an introduction to a valuable new resource for advisers. Visit the DFM Centre now at https://dfm.moneymarketing.co.uk/
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 […]
‘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 […]
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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
Investors will no doubt be aware that the past 3 years have been a tumultuous period for funds in the IA UK Equity Income sector. While active managers will always go through periods of underperformance, it’s startling that just 9% of funds within the highly-popular sector have managed to outperform the FTSE All-Share Index over 3 […]
Alberto Fernandez, the Peronist opposition candidate, won Argentina’s presidential primary election by a far wider margin than expected on Sunday. Fernandez, whose ticket included former president Christina Kirchner as running mate, received nearly 49% of the votes, well ahead of incumbent Mauricio Macri with 33%. The nearly 16 percentage point gap was much larger than […]
Climate change is not a new concept, but is one that is moving higher up investors’ agendas. Ashley Hamilton Claxton, Head of Responsible Investment at Royal London Asset Management shares our approach to climate change. Read the article Past performance is not a reliable indicator of future results. The value of investments and the income […]
Applying high ESG standards to cash funds aligns closely with many clients’ interests. Craig Inches, Head of Rates and Cash at Royal London Asset Management, explains why we believe there is no longer any excuse not to consider ESG factors in cash investing. Read the article Past performance is not a reliable indicator of future […]
With the retail sector continuing to struggle, Martin Foden, Head of Credit Research at Royal London Asset Management, discusses how we seek to identify opportunities in retail and property bonds, even when the headlines are less than compelling. Read the article Past performance is not a reliable indicator of future results. The value of investments […]
Craig Inches, Head of Rates and Cash at Royal London Asset Management, explains how we help clients to use ‘laddering’ in order to optimise their treasury portfolios, seeking a better balance of returns, liquidity and risk. Read the article Past performance is not a reliable indicator of future results. The value of investments and the […]
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