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1 month ago | 
moneymarketing.co.uk | Dan Cooper |Gillian Hepburn |Momodou Musa Touray |Russell Lancaster
The Personal Finance Society (PFS) has published new guidance that consolidates Consumer Duty resources to support firms and personal finance professionals with evidencing compliance. Noting the current regulatory environment is “characterised by heightened scrutiny and challenge”, the guidance recommends technological solutions to enhance accessibility and improve service delivery.
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1 month ago | 
moneymarketing.co.uk | Momodou Musa Touray |Russell Lancaster |Darius McQuaid
Customers of Royal London will share in a payout of £181m in April after the mutual sees an 11% increase in operating profit in 2024. An estimated 2.3 million eligible customers who have pensions and life policies with Royal London will benefit from the payout as part of its profit share scheme.
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Jan 10, 2025 | 
ftadviser.com | Russell Lancaster
Not usually the most gripping topic for the general population, the issue of pensions has recently reared its head in the public imagination, fed by feverish speculation from some commentators leading up to the Autumn Budget. Rumours that the Labour government was about to abruptly change the entitlement to tax-free cash had some clients rushing to their advisers to claim their cash payout. Some listened to, but some ignored, cooler heads recommending people do nothing based solely on fear.
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Sep 26, 2024 | 
moneymarketing.co.uk | Russell Lancaster |Liz Field |Heather Ross |Darius McDermott
Technology has done wonders for advice over the past decade, helping millions of people over the years, but it is nowhere near where it needs to be for the industry to achieve its fullest potential. According to a recent report from The Lang Cat, if the advice industry were to reduce technological inefficiencies and processes, client volumes per firm could increase by 40-50%, which equates to an uptick of two million customers.
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Jul 5, 2024 | 
moneymarketing.co.uk | Russell Lancaster |Steven D. Levin
Investors will be waking up with “renewed confidence” this morning (5 July) as Labour becomes the governing party. St James’s Place head of investment specialists Sarah Ruggins said investors were already reporting “increased confidence” in markets and their investments in the build-up to the election. “Today’s result will likely consolidate this,” she said. “Greater policy certainty going forward should lead to greater confidence in the growth outlook for the UK economy.
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Jul 4, 2024 | 
moneymarketing.co.uk | Russell Lancaster |Salome Asabre
Vanguard’s managing director for Europe, Sean Hagerty, has announced he will step down in December this year after 27 years at the company. He was originally due to leave the business in June this year. He will be succeeded in the role by Jon Cleborne. In a LinkedIn post, Hagerty said that although he is retiring from Vanguard, he is not retiring from his career. “I look forward to continuing to make an impact in new and challenging endeavours,” he wrote.
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Jul 1, 2024 | 
moneymarketing.co.uk | Paul Lewis |Russell Lancaster |Natalie Holt
Nucleus Financial Platforms has completed the acquisition of Third Financial, following regulatory approval from the Financial Conduct Authority (FCA) in May this year. Third Financial is an investment platform and front-to-back wealth management software provider, serving discretionary wealth managers, multi-family offices, and adviser consolidators. The acquisition, which was first announced in February, “significantly expands” Nucleus’s capability in the adviser-as-a-platform space.
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Jun 21, 2024 | 
moneymarketing.co.uk | Jess Franks |Natalie Holt |Cherry Reynard |Russell Lancaster
Despite being in place for many years now, the residence nil-rate band (RNRB) still has an aura of “newness” about it. This likely stems from the fact that, compared to the nil-rate band, it feels complicated. While being a very welcome incremental inheritance tax (IHT) allowance available to most estates, there are some details, complexities and pitfalls to be mindful of. It’s an area where advice feels especially valuable to most families.
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Jun 21, 2024 | 
moneymarketing.co.uk | Russell Lancaster |Ian McKenna |ian mckenna |Cherry Reynard
Consistency is the only way advisers can show their clients (and the regulator) what they’re doing for them and that they’re doing it right. I have found this to be a challenging message to communicate to advisers I work with. Every adviser has a specific set of tools and they try to do the best with what they have within the budget they’re allowed to spend. Difficult stuff, no doubt.
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Mar 20, 2024 | 
moneymarketing.co.uk | Ian McKenna |ian mckenna |Adrian Boulding |Russell Lancaster
Using expressions like “disruption” and “cutting through the noise” is easy, but the challenge is to get the message to drive the industry forward in a sustainable way. Often, new buzzwords can hurt our ears but, when it comes to platforms and retirement in particular, it is worth taking a step back to think about what they actually mean. It can be daunting to do this when the market is challenging and we can’t say we haven’t seen some headwinds recently.
