IFAs remain resilient despite rise in robo-advice

Despite the rise in the use of robots as employees in the workplace, IFAs remain adamant that such technology will not replace their human face-to-face investment advice. Although robots and automation are increasingly infiltrating the financial services industry, experts argue that there are certain matters which robot advice cannot be used for; robo-advice generally focuses on investments which relate more to saving money rather than providing advice. For the…

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FCA Announces that IFAs are to Disclose Esoteric Investment Recommendations

  The FCA has recently announced that IFAs are to disclose more risky investment strategies which they have recommended to their clients The FCA’s reforms follows its review of the Financial Services Compensation Scheme (FSCS); from 2013-2016 around a third of FSCS claims were linked to the sale of esoteric investment plans by Advisers. During the consultation The FCA did not address the proposal that Advisers selling higher-risk products were…

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Robo-advisors are changing wealth management

Robo-advisors are changing wealth management It’s here. The rise of the machine. Or perhaps a more appropriate phase would be the tsunami of robots, as technology sweeps across industries, disrupting the norm and throwing civilians jobs into question. First it was the industrial industry, now the tidal wave has reached the financial industry – with wealth management at the forefront of FinTech investment. Automated financial advisors, also known as…

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Report on Jobs: South (ex London) – March 2016

Key points from February survey: Slower demand growth and less marked drop in supply of permanent candidates… …results in weakest rise in salaries for new starters since October 2014 Growth in temp billings remains relatively subdued Staff Appointment:  Growth of permanent placements remains below 2015 trend Recruitment agencies in the South of England reported a further rise in full-time appointments in February. The rate of growth remained above the…

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Report on Jobs – March 2016

Key points from the February survey: Permanent placements increase at quickest pace in three months Permanent salaries rise at stronger rate but temp pay growth eases Commenting on the latest survey results, REC chief executive Kevin Green, said: “The UK labour market is at a critical juncture. Permanent hiring improved last month, demand for staff remains strong, and pay is going in the right direction – but serious threats…

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Pension Plan Pay Warning

  Just one in ten self-employed workers paid into a personal pension plan in 2013/14, according to an analysis by pension firm Prudential of the most recent data made available by HM Revenue & Customs (HMRC) and the Office for National Statistics.   This is a sharp drop on the 2001/02 figure of 34 per cent.  In that year, 1.1m self-employed workers made pension payments and the total value…

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What Do Staff Want From You?

What better way to let people know they are expendable commodities than calling them ”resources” (human or otherwise)? We all know what we want from our people; the question is how to get it consistently.  The answer, more often than not, lies in understanding what your people want from you. Remuneration, incentives, reward and opportunity are important tools in achieving a “happy advisory family”.  However, if we accept getting the…

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Will you have to work until you’re 75 or older to claim state pension?

Government review will examine whether pension age should continue to be linked to life expectancy. Speculation is rife that a new review of retirement age will lead to workers joining the workforce now not receiving their state pension until at least their mid-70s. The study, which will report to the government next May, will be headed by John Cridland, the former CBI boss. It’s a scheduled assessment due to be…

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PENSIONS

Tasting the Freedoms:  savers have spent the money or held it in cash The Pensions and Lifetime Savings Association has published its latest wave of research on patterns in retirement following the reforms. Of those adults aged 55-70 surveyed, the majority, 63%, had started to look at how they would take their pension, and 23 per cent had done nothing. Of those that accessed their pension, 18 percent spent…

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The Week in Numbers – 4th February 2016

15% – Proportion of Ucits funds that could be “closet trackers”, according to the European Securities and Markets Authority 20% – Rise in revenue reported by Mattioli Woods following a spate of acquisitions 30 – Number of sales roles being cut by Aegon as part of a shift towards its platform business £600m – Value of build-to-rent deal entered into by Legal & General with Dutch asset manager PGGM.  The rental income from…

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