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Platforms face difficult second half after sluggish sales

Platforms should brace themselves for a difficult second half of the year as sluggish Isa sales led to a soft second quarter, consultancy Fundscape says. Fundscape’s latest platform market figures show total platform assets – including the advised and direct-to-consumer sectors – grew by £32bn to £604bn in the second quarter of the year. However, […]

The moment of truth for critical illness innovation

There have been many improvements to critical illness contracts this year. It got off to a great start with Royal London introducing flexibility and choice with children’s cover options. In April, L&G introduced an enhanced version of its contract for both adults and children, which was followed in May with Guardian’s entry into the market. […]

Caerus to compensate over Ucis investment

The Financial Ombudsman Service has upheld a complaint against Caerus from a client who lost money after he transferred £50,000 into a suspended unregulated collective investment scheme. The Fos ruling says Caerus, which was acquired by Quilter-owned network Intrinsic in 2017, is responsible for the unsuitable advice its appointed representative, Matrix Wealth Consultancy, gave to Mr J in […]

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Gregg McClymont: What Australia’s pension scandals can teach us

Australia’s defined contribution pension arrangement (known to Aussies as “super”) is the largest in the world, with assets of A$2.6trn – 144 per cent of GDP. Not bad for a system built from scratch in the early 1990s via mandatory employer contributions. Those involved in delivering auto-enrolment here in the UK always saw super as […]

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Old Mutual Wealth calls for IHT nil-rate band rethink in Treasury open letter

Old Mutual Wealth has set out proposed changes to the inheritance tax nil-rate band and residence nil-rate band laid out in an open letter to Chancellor Philip Hammond. In the letter, OMW trusts and technical solutions head Rachael Griffin says there are numerous legacy clauses and exemptions causing “havoc and confusion” for those looking to […]

Five minutes with…Lena Patel

Ahead of speaking at Money Marketing Interactive Harrogate next month, ISJ Independent Financial Planning director Lena Patel talks becoming chartered and why she is wary of “advice” given at the pub What has been your proudest achievement at your firm this year? I have completed my exams over the past 12 months to become a Chartered Financial […]

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Do retirement savers need national targets?

For many people, pensions are too confusing or such a long way off it does not seem real. Their annual pension statement may not make much sense because it is not set within the context of lifestyle. But translate the hard facts and figures into something they can relate to and it might be a […]

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Fund managers preparing for hard Brexit

Almost two-thirds of asset managers are preparing for a hard Brexit, the Financial Times reports. Looking at fund houses that collectively manage $14tn (£12.2tn) of assets a survey found that 83 per cent have response plans for Brexit while 49 per cent have already put their plans into action. The survey, which comes from UK […]

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Govt mulls IHT-exempt ‘Care Isa’

The government is considering bringing in a “Care Isa” that would be exempt from inheritance tax as a way to combat the UK’s social care crisis. According to The Telegraph, the Treasury is considering proposals to include a new Care Isa in the social care green paper, which is expected to be published later this […]