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Advisers have backed warnings that risk-profiling tools could represent a ‘ticking time bomb’ for the advice industry. Last week, The Platforum cautioned some investors and advisers were over reliant on risk-profile scores. Advisers say they fear some are also using risk profile tools to cut corners. Derbyshire Booth managing director Greg Heath says: “We would […]
Apfa is calling on the Government to allow local authorities to champion financial advice for long term care self-funders who they signpost towards regulated advice. Under the Care Act, local authorities will be required to signpost those who self-fund their long term care to a financial adviser. Under proposed guidance for councils on the requirement […]
Partnership saw individual annuity sales plummet in the first six months of the year as half-year profits dropped by over 40 per cent. Announcing its half-year results today, the enhanced annuity specialist revealed sales of individual annuities totalled £334m in the first six months of the year, a 41 per cent fall from £590m during […]
Almost two thirds of pension schemes think the Government’s guidance guarantee will not provide savers with enough support, according to a survey by Mercer. In March’s Budget, Chancellor George Osborne announced that savers would be able to take their entire pension pot as cash once they reach 55. Alongside this he pledged that everyone would […]
A survey conducted by Johnson Fleming at the Pension & Benefits Show 2014 highlighted the key challenges faced within organisations post auto-enrolment. The results showed that communicating the changes and the value of them to staff, and receiving timely data from the payroll provider proved to still be the most challenging aspects of managing an auto-enrolment scheme.
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As someone training to be a cricket umpire, fair play matters to Fortitude Financial Planning director Chris Bowmer. Doing the right thing for clients is something he has adhered to from the start of his career, even in a 1980s sales environment with nothing to gain by delving beyond a client’s surface requirements. While he acknowledges […]
Fund managers who have helped pay compensation over the collapse of life settlement bond provider Keydata will receive a £12m refund, the Financial Services Compensation Scheme has announced. Keydata’s management has been embroiled in a multi-million-pound legal battle with the FCA since it collapsed in 2009. The total bill for compensation stands at more than […]
With no employer to fall back on, the self-employed are on their own when it comes to retirement saving. Irregular income patterns can make it harder to save regularly into a pension and commit to locking money away until age 55. Those who are building a business may see that as their biggest asset and […]