MM leader: Advisers show policymakers the way with Financial Planning Week

The sixth annual Financial Planning Week is well under way, with advisers up and down the country taking time out from their busy schedules to promote the importance of properly planning your finances.

As we report in this week’s issue, advisers are offering free surgeries and working with local and national newspapers, radio and TV to send out a simple but vital message about the need for people to have a decent finance plan in place.

The Institute of Financial Planning’s week-long campaign aims to help make a long-term difference to individuals and families from all walks of life. You can read more about what advisers are doing by following the twitter hashtag #FPWUK.

A central theme of this year’s FPW is to hammer home the fact that financial planning does not need to be the preserve of the wealthy.

There are important positive steps people can take such as paying down excessive debt where possible, saving what they can in the most tax efficient way, minimising potential IHT liabilities and properly protecting themselves and their family should disaster strike.

Hopefully the powerful message being expressed through FPW about the value of independent, impartial advice will find its way to Westminster and Canary Wharf.

As the Pensions Policy Institute director Chris Curry stated at a recent Money Marketing event, current Government policy indicates that it sees little value in financial planning as it looks to slash pension costs, whatever the cost.

Thinking about pensions, good financial advice can ensure lower opt-out rates and higher levels of contribution but this “value” appears hidden to policymakers obsessed with driving down headline costs without ever thinking about the wider context.

In the past, regulators have, quite rightly, been wary of the lobbying on simplified advice from the high street banks which often boiled down to a request for watered down regulations to help them sell more products.

The size and cause of the current advice gap in the UK is a matter of much debate. But whatever your view, the energy, enthusiasm and plans for engaging with the general public being displayed by advisers this week should be a good starting point for trying to get more people to take responsibility for their financial future.



RBS set to pay £500m in bonuses

Royal Bank of Scotland is set to pay its bankers an estimated £500m in bonuses this year, amid renewed concerns over banker pay and inquiries into the way the bank has treated small businesses. The Sunday Times reports that bonuses will still be paid despite forecasted losses at RBS. Figures from the European Banking Authority […]


Advisers struggle to re-reg from Standard Life Investments

Advisers attempting to re-register clients away from Standard Life Investments range have been hit with delays as rival platforms cannot support the preferential share class. Standard Life launched funds with preferential shares classes last month.  For advisers looking to re-reg from SLI products, Standard has temporarily decided to convert the assets to standard retail classes on its […]


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