View more on these topics

Cold-call ban and social care funding top of advisers’ post-Brexit priority list

With all eyes on the UK’s withdrawal from the EU, advisers want to see that important issues affecting UK savers and investors are not being sidelined, new research shows.

Theresa May recently reiterated her motto that “no deal is better than a bad deal”, stating that the EU’s offer of a Canada-style free-trade agreement is not acceptable as it would not prevent a hard boarder between Ireland and Northern Ireland, breaking the UK up in the process.

With only six months to the withdrawal date, Brexit negotiations are far from over and progress on important issues at home is frozen as a result.

A survey of 100 advisers, carried out by Aegon, asked what the most pressing areas affecting their clients’ finances are that the government should be advancing.

Tackling pension scammers and providing clarity on how the social care will be funded between individuals and the state were among the most frequent answers.

EU rejects govt’s Brexit financial services plan

Almost two thirds of surveyed advisers (62 per cent) would like to see progress on the pensions cold-calling ban.

Aegon pension director Steven Cameron says: “Advisers are clearly very concerned about the risks of individuals being scammed out of their pension savings by cold callers, and every month of delay risks more people losing their life savings to fraudsters.”

Funding social care was the second most pressing issue among surveyed advisers, with 59 per cent calling for a promised government paper on social care.

The Green Paper on social care is already delayed. Foreign secretary Jeremy Hunt announced in June the paper would not be published until autumn, as opposed to before the summer recess as he had originally promised.

Aegon notes this issue is urgent as the number of people who don’t get the care, is at a record high of 1.4 million – up almost 20 per cent over the past two years.

Cameron says: “With people on average living longer, more of us will need some form of care in later life and how to share the costs fairly between the government and the individual, is one of our greatest societal challenges.

“The sooner the government sets out its proposals, the sooner advisers can help their clients plan ahead.”


Equity release a growing market for solicitors – Pru

Research from Prudential conducted among UK private client solicitors shows a growing need for advisory work in equity release. Twenty nine per cent of solicitors believe demand for legal guidance in the area of equity release will increase in the next five years and over the last two years, one in four (26 per cent) […]

SJP directors increase stake in company

Two directors at St James’s Place have increased the shares they own in the company. SJP investments managing director David Lamb and partnership managing director Ian Gascoigne have both bought £8,996 worth of the company’s shares, according to a London Stock Exchange notice. Lamb and Gascoigne bought 993 ordinary shares of 15p each at a price of […]


Preparing for an all-passive world

Despite being around since the 1970s, index tracker funds did not have much love from investors until a decade ago, when Lehman Brothers crashed along with many people’s faith in financiers. The popularity of passive funds grew steadily and they went from a negligible market share at the beginning of the millennium to making up […]


Thousands duped out of pension savings by rogue advisers

Rogue advisers have caused savers to lose hundreds of thousands of pounds after being abandoned to a “Wild West” of pension rules, according to a Sunday Times report. Its report shows how some advisers have exploited the outdated laws and loopholes to lure unassuming investors into high-risk products, leaving them unprotected when dodgy bets have gone […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm