Tony Wickenden

England

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UK economy shrinks 0.1% in January amid decline in manufacturing

1 month ago | moneymarketing.co.uk | Momodou Musa Touray |Tony Wickenden |Salome Asabre

The UK economy unexpectedly shrank in January following a decline in the manufacturing and construction sectors. Friday’s monthly GDP figure from the Office for National Statistics (ONS) was weaker than expected, and came after the economy had grown by 0.4% in December. The ONS blamed weak manufacturing output, down by 1.1% on the month, and construction, which fell by 0.2%. The poor GDP readout will be seen as a blow to the chancellor Rachel Reeves ahead of her Spring Statement this month.
Tony Wickenden: What might be coming in the Spring Statement

1 month ago | moneymarketing.co.uk | Tony Wickenden |Simon Fitzpatrick |Claire Trott

On 16 December 2024, it was announced by the Treasury that the chancellor had commissioned the Office for Budget Responsibility (OBR) to prepare an economic and fiscal forecast (which they described as a ‘Spring forecast’) to be presented to Parliament alongside a ‘Statement’ from the chancellor on 26 March 2025. The OBR has to publish two forecasts every year by law.
Podcast: We need to have those difficult conversations about death

Nov 15, 2024 | moneymarketing.co.uk | Kimberley Dondo |Tony Wickenden |Momodou Musa Touray

View more on these topicsAdvisers Podcast MM Weekend Essay In this deeply personal episode, Dan Cooper reflects on the recent loss of his beloved grandfather and the lessons it taught him about having those difficult but vital conversations about death. From inheritance planning to creating a will, Dan shares why discussing end-of-life wishes is an act of love and how it can bring peace of mind to families during challenging times. Listen now:
UK adults’ retirement confidence drops since 2023

Nov 13, 2024 | moneymarketing.co.uk | Darius McQuaid |Tony Wickenden |Chris Jones |Momodou Musa Touray

The confidence in UK adults’ ability to have enough capital during retirement has dropped since last year. This is according to Nucleus UK Retirement Confidence Index which found that overall confidence is 4.6 in 2024 down from 6.9 in 2023. Nucleus technical services director Andrew Tully said last year the figure was higher than the company expected it to be. The research from last year has been expanded to include UK adults from the age 18+ whereas last year it was based on adults over 50.
Seccl welcomes Prerna Goel as chief operating officer

Nov 11, 2024 | moneymarketing.co.uk | Dan Cooper |Tony Wickenden |Kimberley Dondo

Octopus-owned investment platform Seccl has appointed Prerna Goel to the role of chief operating officer (COO). Goel, an accomplished leader in the fintech and banking sectors, will lead Seccl’s operations, finance, CASS, legal and cross-functional delivery teams. With nearly 20 years of experience across India, Canada and the UK, Goel has been instrumental in shaping the financial services landscape.
Retirees with an annuity experience less stress

Nov 10, 2024 | moneymarketing.co.uk | Darius McQuaid |Momodou Musa Touray |Tony Wickenden |Salome Asabre

UK retirees who are annuity-holders are more likely to report lower levels of stress and the highest level of financial confidence compared to those without one. This is according to research from Legal and General and the Happiness Research Institute, an independent Danish think tank. The research also shows the top reason people opt for an annuity (31%) is as a result of a recommendation from a financial adviser. Retirees with an annuity score more positively across multiple wellbeing measures.
Weekend Essay: What lessons should the media learn from the US election and the UK Budget?

Nov 8, 2024 | moneymarketing.co.uk | Tom Browne |Momodou Musa Touray |Darius McQuaid |Tony Wickenden

The results of this week’s US election will make sober reading for anyone who dreads the prospect of a Donald Trump second term. At the time of writing, the Democrats have lost (or are on course to lose) the electoral college, the popular vote, all seven swing states and control of both Houses. All this to a convicted felon who tried to overturn the previous election and was assumed to be so toxic that no one would dream of voting for him.
Kingswood UK and Ireland assets buoyed by BasePlan acquisition

Sep 29, 2024 | moneymarketing.co.uk | Tony Wickenden

Despite a drop in assets under advice in its UK business, Kingswood’s UK and Ireland division reported a £200m uptick in the first half of 2024 thanks to the completion of its BasePlan acquisition and “positive market movements”. In its unaudited interim financial results for the half year ended 30 June 2024, the group said it had experienced AUA outflows in its UK business following the departure of some wealth advisers.
Regulator keeps up momentum on ongoing advice services

Sep 26, 2024 | moneymarketing.co.uk | Tony Wickenden |Rachael Griffin

The Financial Conduct Authority has confirmed it is still looking into the issue of ongoing advice services. In February, the regulator wrote to 20 of the largest financial advice firms requesting information about their delivery of ongoing services to clients. In the letter, it laid out its concerns that clients continue to be charged after advice has been given.
Tony Wickenden: Should you advise pre-emptive action to save clients from CGT?

Sep 16, 2024 | moneymarketing.co.uk | Tony Wickenden |Suzy Morrissey

Given the warnings of tax increases in the Budget by both prime minister and chancellor, together with the government’s self-imposed limitations to increases for ‘working people’ (ruling out changes to income tax, National Insurance contributions (NIC) and VAT), concern is rife as to what to expect with capital gains tax (CGT). CGT is the favourite tip for those predicting where Budget increases will fall.