Guaranteed drawdown may be the answer amid scepticism over annuities.
I am picking my clients carefully when it comes to DB transfers and drawing upon years of experience, disappointment and anger
Enhanced annuities have been ignored by the regulator but consumers could gain the most from them.
Pension Wise style guidance sessions to be trialed on “medium-sized” DB transfer pots.
Regulator rejects argument that advisers do not need to prompt consumers to shop around
World Economic Forum calls for the lifetime allowance to be scrapped and faster pension age rises to tackle a potential £25trn savings gap
A Government offer enabling savers to boost their state pension by making a lump-sum payment to secure additional income of up to £25 per week will expire in June. The offer has been available since 2014, when it was introduced to enable people who lost out as a result of the replacement of the old basic […]
Robo-adviser will produce an automated advice report in under a minute Robo-adviser Wealth Wizards has launched a tool that it claims will give full retirement advice in under two hours. The white-labelled robo-paraplanner tool, which has been piloted by LV=, will provide an automated advice report in under a minute. The fact-find is undertaken either […]
Everything has changed in terms of pension options in the two years since the pension freedoms came into force. But in terms of dealing with clients, not much has changed at all. Most new clients come with the same amount of personal baggage as they did back then. In advice, I try to reconcile theory […]
Having the ability to think and speak freely is important to Finalytiq director Abraham Okusanya. It is one of the reasons he founded the firm in 2011. Love or loathe his direct style of self-expression, Okusanya has no qualms about ruffling a few industry feathers. If some people take umbrage when he speaks the truth […]
Just group chief executive Rodney Cook took home a total pay package of £2.6m in the 18 months ending 31 December 2016. JRP Group, formed following the merger of Just Retirement and Partnership, rebranded to Just in January. Cook was formerly chief executive of Just Retirement Group. The salaries of senior employees were reviewed to take into […]
The FCA has launched a wide-ranging investigation into how customers taking drawdown without getting advice are treated. The regulator has announced a thematic review – a form of assessment where the FCA standardly conducts site visits, investigates risks and suggests resolutions for a systemic market issue – into non-advised drawdown sales since the pension freedoms. […]
Labour has promised to give more support to women affected by increases in their state pension age in its “pensioner’s pledge card” published today. Labour Chancellor John McDonnell published the party’s promises today on his Twitter account. The pledges also include keeping the state pension triple lock until 2025, protecting the state pensions of overseas pensioners, and keeping pensioner […]
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No doubt many advisers have been grappling with the finer details of the tapered annual allowance as the tax year comes to a close. Recent research among FundsNetwork advisers suggests around 7 per cent of clients will be affected. These will inevitably be some of the wealthiest and most important. The research also found nearly […]
Prudential has revealed it has set aside a total of £175m to cover the cost a review of non-advised annuity sales and potential redress. In its annual results, published today, Pru says the provision has contributed to lower operating profits for the UK business, down 31 per cent to £828m. Money Marketing revealed last month […]
JRP Group, the company born out of the merger between Just Retirement and Partnership, says the annuity market is stabilising as the combined group reports £30m in cost savings. Its results, published today, show the business made a pre-tax operating profit of £163.7m, up 58 per cent from £103.5m in 2015. The merger between the […]
Chancellor Philip Hammond has ruled out introducing a “death tax” in today’s spring Budget. Hammond pledged an additional £2bn of grant funding for social care in England over the next three years with £1bn available in 2017/18. He said the Government will set out its thinking on the future funding of social care in a […]
I spent last week out and about speaking to advisers. As usual, the conversations were full of fascinating insights into the practical day-to-day reality of managing clients’ wealth. The focus was on income drawdown and the challenges posed in getting it right. The shadow looming over the discussions was, of course, pension freedoms. In asset management, […]
Fewer than half of consumers who take their full pension pot as a lump sum use an adviser, new data from the FCA shows. Though the proportion of advised full withdrawals increased six percentage points between the second and third quarter of last year, only 47 per cent of consumers had gone through a planner to […]