The Week in Numbers – 17th November

The Week in Numbers – 17th Novemberblue news

24% – Proportion of calls not answered by HMRC staff. MPs have criticised the tax office’s performance calling it “completely unacceptable”

£500 – Amount each new employer using The People’s Pensions for auto-enrolment will be charged in 2016

9 – Number of insurers on the Financial Stability Board’s “Too big to fail” list. Dutch insurer Aegon replaced Generali last week

400 – Number of advice firms and providers approached by the FCA for a data-gathering exercise to inform the Financial Advice Market Review

£10K – Compensation awarded by the Pensions Ombudsman to an Abbey Life customer who was made aware of a guaranteed annuity rate

£5bn – Outflows in the year to September at Prudential-owned asset manager M&G

£100m – Investment in film partnerships by Kingsbridge Asset Management on behalf of clients, including former England Footballers

£733,794 – Payout minus bonus and redundancy payment Partnership chief executive Steve Groves will receive when the provider merges with Just Retirement


Quote: “If we didn’t have Pension Wise, everyone would just go to their provider, and we know what they are like” – Pensions minister Ros Altmann argues it is in advisers’ and consumers’ interests to boost the take-up of guidance


Originally published in Money Marketing Magazine on 12th Nov 2015
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The Week in Numbers – 26th October

The Week in Numbersblue news

34% – Year on year rise in SIPP claims reported by the Financial Ombudsman Service, from 210 in Q3 2014 to 281 in the same quarter this year

10 Years – Length of SIPP administration deal agreed between Curtise Banks and Zurich

100 – Number of Sanlam Wealth Planning employees whose jobs are under threat after the firm placed its Rhyl and Worcester offices under review

£49 – Annual cost to members of using the Pensions and Lifetime Savings Association’s new automatic enrolment guidance service

£5.3m – loss reported by Nutmeg in its 2014 annual accounts

£11.3m – Profit recorded by Woodford Investment Management during its first year of trading

£263m – Losses on investments held by Brooks Macdonald in the three months to the end of Septmeber

One – Number of advisers on the 15-strong expert panel advising the Treasure and the FCA’s Financial Advice Market Review


“There is only so much you can chuck at an industry and expect it to cope” – Apfa director general Chris Hannant on the regulatory burden of extending the senior managers regime to advisers .


Originally published in Money Marketing magazine 22nd October 2015
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The Week in Numbers – 5th August

The Week in NumbersWebsite Photos 070

£40K – Amount lost by Yorsipp member who complained to the Pensions Ombudsman claiming due diligence failures. The complaint was thrown out last week.

Up to 30% – Estimated hit to fund flows to pension providers if the Government radically reforms pension tax relief

£20m – Level of redress Cash Genie has agreed to pay 92,000 customers following a deal with the FCA

Five – Number of tracker funds on which BlackRock has cut charges with some fees reduced by half

Jan 2018 – Date of implementation for new account standards that could increase the cost of mortgages

18,000 – Number of guidance appointments delivered by Pension Wise since the launch in April, according to the Treasury

£486k – Size of the net estate left by Melita Jackson. Her decision not to name her estranged daughter as beneficiary has been overturned by the Court of Appeal.


Original figures published by Money Marketing Magazine 30th July 2015
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The Week in Numbers – 28/05

The Week in Numbers – 28/05Website Photos 062

0.1% – Fall in the Consumer Prices Index in the year to April compared with no change in the year to March

4,000 – Number of individual advisers Garry Heath aims to recruit for his new trade body, Libertatem, in the first 15 months

4 – Number of Labour MPs that remained on the Treasure select committee following the election. Some industry experts say Labour has lost much of its financial services expertise.

29% – Rise in the number of Annuity Complaints received by the Financial Ombudsman Service in the past year, from 601 to 776

Less than 1 in 10 – Proportion of Hargreaves Lansdown customers that have bought an annuity since 6th April

8th July – date set for Chancellor George Osborne’s second budget of the year

£227m – amount Deutsche Bank was fined by the FCA over Libor manipulation in April. A former trader has this week brought a case against the regulator claiming he was improperly identified in the FCA report

£10bn – amount the Government plans to cut business red tape by, as announced by Business Secretary Sajid Javid


Originally published in Money Marketing Magazine 21st May 2015
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