View more on these topics

Welsh govt to boost financial services employment

The Welsh government has committed to increasing employment within the financial services, legal and accountancy industries by more than 60 per cent over the next eight years.

Speaking to Money Marketing, a Welsh government spokeswoman says it wants to boost the number of people employed in the sectors from 124,000 now to 200,000 by 2021.

She says: “Financial and professional services are key sectors for the Welsh economy with potential for high growth and the intention is to increase employment from the current workforce of 124,000 to 200,000.”

Last week, Money Marketing revealed Cardiff-based adviser Richard Harry has been given almost £200,000 in Welsh government funding to part finance an execution-only proposition called Best Price Financial Services, aimed at those who cannot afford face-to-face advice.

Paladin Financial Services managing director Tim Purdon says: “The Welsh government should be applauded for taking this view. With the RDR there is going to be a lot of opportunities for innovation particularly in the non-advised space. Any funding which can be awarded is only going to help the financial services industry as a whole.”


Impairment costs contribute to £4.6m loss for Lighthouse

Lighthouse has reported pre-tax losses of £4.6m for 2012, compared to £2.7m losses in 2011, as it set aside £3.9m in costs relating to its 2008 merger with Sumus Group. The firm’s accounts, published last week, show Lighthouse incurred costs of £500,000 relating to its failed delisting from the Aim market, which led to the […]

Royal London holds annual with-profits bonuses as returns reach 8.6%

Royal London has held or increased annual with-profits bonuses for 1 million policyholders as the provider’s open fund posted returns of 8.6 per cent during 2012. Royal London has two with-profits funds – the open Royal London Long Term fund and the closed Scottish Life fund. The Royal London fund is divided into life policies […]

Does the Govt MIG scheme expose taxpayers to unnecessary liabilities?

A number of crucial details are lacking from the Government’s plans for a new mortgage indemnity guarantee scheme and the industry is questioning whether it will end up employing too much risk to help borrowers. Chancellor George Osborne unveiled the new scheme in last week’s Budget. The Government will offer a guarantee of up to […]


Nic Cicutti: RDR costs may well be worth it

The other day I received an email from a financial adviser. He was writing to tell me of a major life company trying to get round the RDR by offering “distribution allowances” on annuities and, perhaps, other products too. Commission by other means, in simple terms. Speaking to other IFAs in the past few weeks, […]

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. RegulatorSaurusRex 28th March 2013 at 8:59 am

    Where will they all live?

    The planning system in Wales is pedestrian to put it mildly.

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