Financial education

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How are networks ensuring advisers are competent?

If you are an adviser who is employed or running a firm under a major network or national, can you slip under the radar easier than advisers with no middle or upper management protection? On the education front specifically, are these advisers more likely to avoid the FCA’s latest move to sure up competency with […]

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L&G: Advisers need to help bust pension jargon

Annuities, drawdown, Sipps – these terms can confuse and alienate customers. People really just want to know what will enable them to have the retirement they’ve always dreamed of, with enough flexibility to deal with life’s changing circumstances and perhaps a small inheritance to pass on too. What is everyday terminology for us in the […]

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DB trustees should flag availability of transfer values, report says

Royal London has published a discussion paper with pensions lawyers Eversheds Sutherland to help defined benefit trustees handle members interested in transfers. It aims to help trustees understand both what the law requires of them and what good practice might look like. The paper calls on trustees to make members aware that transfer values are […]

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SJP shuns new CII exam in favour of in-house programmes

St James’s Place says it will stick with its internal adviser assessment programmes rather than offering the planned Chartered Insurance Institute and FCA-backed adviser re-evaluation examination. Speaking to Money Marketing, an SJP spokesman says the network prefers its in-house continuing professional development, but will not rule out changes going forwards. He says: “We are confident in […]

Tom Hegarty: The gold standard in paraplanning

Paraplanning is a relatively recent function within advice firms. Such roles did not really exist 20 years ago, as most advisers would tend to carry out all planning aspects themselves, including their research, technical analysis and suitability processes. But thanks to regulation becoming more challenging, advisers have realised that separating the client-facing and non-client-facing processes […]

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PFS to launch free financial education programme for schools

The Personal Finance Society is set to launch a free nationwide financial education programme for schools this September. The initiative, called Education Champions, aims to help the PFS establish a link with every secondary school and college of further education in the country. It will build on the society’s existing discover fortunes programme, which uses […]

Industry failing to nudge people to consider pensions options

The financial services industry has failed to find ways of nudging consumers to think about their options at retirement, despite three years of pension freedoms. A panel at the Association of British Insurers retirement conference today lamented the way companies talk to people about pensions and the lack of engagement it inspires. ABI director general […]

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Pensions minister holds hope for new guidance body by winter

Pensions minister Guy Opperman is hoping the single financial guidance body will be established by winter. Opperman updated delegates at the ABI retirement conference today on how the guidance body is progressing. Currently the government is looking for a chair and chief executive who, once hired, will start looking at how the single guidance body combining […]