Scottish Equitable is launching a support package to help advisers and their clients prepare for A-Day, warning IFAs that not taking any action is unacceptable.The toolkit consists of an A-Day-specific website giving summaries and analysis of legislation, guides on the main advice issues and help with identifying core business opportunities arising from pensions simplification. Client segmentation advice is available, demonstrating how to split clients into manageable sections, and offers letter templates specific to each group. This is designed to help IFAs target the clients most affected by A-Day and create an action plan ensuring that key actions are completed on time. The pack also includes an A-Day calculator. ScotEq says IFAs should embrace A-Day as bringing new business opportunities, providing they are adequ- ately prepared as all clients will need some form of advice on how the new regime will affect their finances.
The FSA is starting a campaign requiring advisers to contact all clients who will be “affected” by A-Day and notify them of the impending rule changes. The vagueness of the wording has raised concerns among some advisers, who are worried about the expense of contacting significant numbers of clients. The regulator says it will not […]
Experts say the UK investor is unlikely to be significantly affected by last week’s second attempted terrorist attack on London, despite an ongoing consumer slowdown. F&C UK growth and income manager Ted Scott says even prior to the first bombings of July 7, the downturn in the strength of the UK consumer market was evident […]
This week, I will continue my series of articles on recent and imminent developments in the field of pensions. As in previous articles, I will not only identify and describe the developments but will discuss the implications and opportunities for pension advisers and their clients.
Halifax has finally stirred up interest in the fixed-rate mortgage market after several months of apathy, says Hamptons International Mortgages director Jonathan Cornell. Halifax is offering a two-year fixed rate at 4.29 per cent up to 90 per cent loan to value, which is now available for purchases as well as remortgages. The deal is […]
Graeme Robb, senior technical manager at Prudential, writes about the residence nil-rate band and the advice opportunities it presents for you when tax year-end planning with your clients. On our Planning Matters hub, we considered a widow, Margaret, and a married couple, John and Anne, for whom the residence nil-rate band (RNRB) is influencing planning […]
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]