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Advisers are playing safe

Regulation is causing some advisers and wealth managers to de-risk portfolios too soon while also steering some investors away from valuable financial advice, according to research by KPMG.

It says some advisers are playing “too safe” by focusing heavily on lower-risk products. It also warns a move towards self-direct investing, caused by regulatory costs of advice, could be damaging to clients. It sought the views of 41 chief executives in wealth management and 300 ultra-high-net-worth clients along with data from research firm Compeer. KPMG European head of investment management Tom Brown says: “Many everyday investors are being steered towards lower-risk investment or are shunning financial advice. There will be clients who are at a stage when they could be taking more risk.”

Brunning Newman Houghton director David Brunning says: “I think regulation is encouraging advisers to take clients’ attitude to risk at face value rather than challenging a client and telling them they need to increase risk.”


MM Leader: Single-tied deals and servicing small pots

The growth of single-tie annuity deals should be treated with caution, although new thinking is required over how to economically service small pots. Openwork and Partnership recently announced a single-tie deal for standard and enhanced annuities which commits Partnership to offering top-five rates. Openwork will retain its whole-of-market referral service for clients with greater needs. […]


Income tax and NI merger kicked into the long grass

Advisers say the complexity of merging income tax and National Insurance contributions could see the reforms “kicked into the long grass” by the Treasury. In the March Budget, the Treasury announced it would produce a consultation in April, outlining possible reform options for integrating National Insurance and income tax. Last week, the Government pushed back […]


Alan Lakey: The long wait for an offer

As I become increasingly intolerant of a general deficiency of fair play, I find myself despairing of the rigidity with which lenders are destroying the mortgage market and simultaneously sowing the seeds for the property value meltdown of 2014. The architects of current lending policies seem hell-bent on devising rules that bear little scrutiny when […]


Lifetime Isa – how it works

According to George Osborne “people like Isas – because they’re simple”. Fiona Tait is not convinced… Contributions & bonuses What he said: “From April 2017, anyone under the age of 40 will be able to open a Lifetime Isa and save up to £4,000 each year. And for every £4 you save, the Government will […]


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