I tried recently to explain the virtues of cash to a hall full of financial advisers. It was hard going. Not least because some seemed determined to misunderstand me and then argue against not what I had said but their misunderstanding of it. Sigh. So, here goes again… Cash has its place. Not just for […]
Providers, advisers and politicians are calling on the Government to investigate how a Citizens Advice delivery centre was able to use Pension Wise-funded staff for non-pensions work. Earlier today, Money Marketing revealed how the Derbyshire Districts branch redeployed staff funded by a £35m a year levy on financial services firms and advisers. Citizens Advice says […]
Earlier this year, the FCA published a lengthy article comprising feedback on a call put out to regulated firms for examples of where they considered it had “acted in a retrospective manner”. This exercise arose from an awareness at the regulator that firms often considered it had retrospectively moved the goalposts. According to such firms, […]
The Government is considering “rationalising” the guidance services offered by the Money Advice Service and Pension Wise to reduce duplication between the offerings. Currently, pension guidance is provided through Citizens Advice and the The Pensions Advisory Service in the form of Pension Wise, while the MAS also publishes retirement savings information on its website. In a […]
Macroeconomic matters are less significant for stockpickers, says fund manager Philip Wolstencroft. The companies in his portfolio are growing reliably and stand at a 20 per cent discount to the market.
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 […]