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Wells Street Journal: Paraplanning acrobats and Silly Sock Day

A weekly account of the curious goings-on in the world of financial services from Money Marketing’s diary page on Wells Street

Put a sock in it, Aviva

Activity on the Aviva UK Support Twitter page finally took a dip heading into the long weekend, after its staff failed to amuse angry followers with its Silly Sock Day selfie game.

The page, which has been a crossroads for frustrated advisers in the wake of the group’s replatforming issues, asked followers to “show us your socks” last Friday, saying the follower with the best socks would receive “a little something” as a prize.  While some people left a picture of their socks in the comments section, the game appeared to have been rather propped up internally.

One tweeter left a comment calling for Aviva to pull its own socks up, and asked to be moved forward in the backlogged queue of complainers as a reward. Seems Aviva will remain stuck between a sock and hard place now as far as sentiment goes…

Making pensions easy

When HM Revenue & Customs updated its guidance instructions on how to work out your own reduced annual allowance, Money Marketing was hoping to see a more user-friendly manual.

The guidance carefully outlines numerous steps for working out net income, threshold income, adjusted income, pensions savings and anything possible related to DB transfers in order to calculate whether or not an annual allowance tax charge will need to be paid.

Nonetheless, steps including “multiply half this amount by 16” and “divide the value of any separate lump sums and deduct opening value from closing value” worryingly seem to be the least taxing steps.

It had acrobat on it, but not paraplanner…

A paraplanner finds filling in their job details for new car insurance taxing

I killed two birds with one brick

Chapters Financial’s Keith Churchouse lucks out that his pension reading counts towards CPD

Young people are now organising everything with robots

Meldon & Co’s Mark Meldon says older clients hope for friendly faces not online solutions

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