Although I do not support his party, I think Oliver Letwin was right to question the role of the FSA.The legislation going back to 1986 was always flawed because it focused on regulating advice.This sounds wonderful but it can give consumers the impression that risk is transferred to the adviser on the basis that if […]
With the approach of D-Day – December 1 – the minds of tied and independent advisers should be straying towards the consideration of their regulatory status in the newly depolarised world. Depolarisation offers advisers the options of being whole of market, limited choice or single provider. Currently, of course, there are only two choices -IFA or tied adviser.
The pension versus Isa debate has raged on and off for years. Les Cameron, head of technical at Prudential, asks if three’s a crowd. I think the debate was arguably settled by pensions freedom when the biggest downside of pensions – limited access and poor death benefits – was fundamentally changed. Total access, albeit with […]
A weekly account of the curious goings-on in the world of financial services A hostile climateOn the same day the Prudential Regulation Authority put out a policy statement on the financial risks of climate change and five London landmarks were ground to a halt by climate protesters, it was starting to feel like a bit […]
Understanding the impact of cutting the dead wood Nothing sells funds like performance. Despite all the regulator’s railings that past performance is no guide to the future, we see flows being directed to the funds at the top of the league tables time and time again. There are, of course, far too many funds out […]
The Department for Work and Pensions has published its first round of guidance to help trustees resolve unequal guaranteed minimum pensions today. A GMP is the minimum pension that an occupational pension scheme, contracted out of the additional state pension between 6 April 1978 and 5 April 1997 on a salary-related basis, has to provide […]