View more on these topics

Editor’s comment of the week

Need for protection?

I am sure you have all experienced this scenario. A large sum of money appears in a client’s bank account. Immediately, the bank’s in-house advisers are tipped off and start hassling the client, telling them: “We need you to come in to the branch”, where-upon they try and flog them an investment bond.

It happened to an 89-year-old client of mine recently, even though she was over the age limit for the product the bank was trying to sell.

Being from a more deferential generation, although older people do tend to jump when the bank tells them, they are often quite worried to be called in.

Simple question – should we be demanding a change in the data protection regulations to stop banks exploiting data this way, that is, a Chinese-wall-type arrangement between deposit taking and financial product selling?

If the bank is recommending another deposit product paying higher interest, then fair enough, or a cash Isa likewise, but isn’t it fair to assume the client puts money on deposit because they want it on deposit, not in an insurance bond?

Neil Liversidge
Managing Director
West Riding Personal
Financial Solutions


Nest’s Govt loan cost to rise after auto-enrolment delay

The cost of Nest’s Government loan will increase as a result of the delayed roll out of auto-enrolment, according to the corporation’s chairman Lawrence Churchill. Last month, pensions minister Steve Webb announced auto-enrolment will be delayed for small firms until after 2015 and said any employer expecting to auto-enrol their staff after July 2013 could […]

Clive Cowdery buys £600K of shares in Resolution

Resolution founder Clive Cowdery has bought £600,000 worth of shares in the UK insurance sector consolidation vehicle. Cowdery bought 240,000 shares yesterday at 252.91p each. It is the first time Cowdery has invested in the company outside the Resolution vehicle. Resolution has acquired Friends Provident, Axa’s UK life and pensions business and Bupa since it […]

Retirement - thumbnail

(Another) downhill stroll — retirement planning

A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.


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