The Wells Street Journal: Festive fun and Hargreaves radio

The curious goings-on in the world of financial services

Festive fun 

You may have heard the name Carey Pensions recently – but probably for the wrong reasons. The firm was the subject of a Radio 4 investigation that accused it
of attempting to gag complaints from unhappy clients who had seen their pensions transferred into higher risk investments through the Sipp provider.

Earlier this month, Money Marketing got its own tip that yet another complaint had hit Carey’s desk concerning the due diligence it conducted on unregulated investments.

But Carey is keeping its chin up and the festive good cheer coming. In an email we’ve seen to advisers, the firm offers “Seasons Greetings from us all”.

Chief executive Christine Hallett writes: “The Carey Pensions team wish you an enjoyable festive break and a successful and prosperous new year for 2018 and of course beyond!”

One adviser’s response: “Couldn’t make it up. Are they oblivious to it all?” Bah humbug it is then.

Xmas at Hargreaves

Meanwhile, Stephen Lansdown, of Hargreaves Lansdown fame, has doled out his own, more financially generous Christmas present. The City heavyweight and Rich List dweller is helping fund two new talk radio stations fronted by former editor of The Sun Kelvin MacKenzie, according to reports.

Will this be another sound investment for the financial services leader? Mackenzie made a tidy £125m profit on selling the Talksport radio station last year to Rupert Murdoch’s NewsCorp. That bodes well for Lansdown jumping further up the ranks of the wealthy next year.

Out of Context

“I’ve already been to two meetings where all we have had is a cheese sandwich”

An advice firm exec laments the impact of inducement rules on hospitality.

“My aesthetic sense is rather brutalist”

The FCA’s Stephen Hanks apologises for his Mifid II powerpoint presentation.

“I totally expect to be fired after my first one”

Finaltyiq’s Abraham Okusanya looks forward to starting a new series of columns for Money Marketing.



PensionBee sells stake to State Street

State Street Global Advisors has taken a strategic equity stake in direct to consumer pension platform PensionBee. As a result of the financing, PensionBee, which was launched in 2016, will expand its white-label product line to offer pension consolidation services to banks and life companies. PensionBee already has partnerships with fellow fintech company Revolut and […]

Graphic Content – August

Given the release of employment data from the US on 5 August, we wanted to focus on employment data in this month’s Graphic Content. The Graphic Content below shows us that young and middle-aged workers were hit the hardest by the Great Recession and have never caught up. Since the job market started to recover […]


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