Octopus Investments opens up on the future strategy for its inheritance tax service
This is the week that Octopus started talking about its plans for reopening. The inheritance tax service will split in two parts – one open, one closed with two thirds in the open version and one third in the closed version.
There are, however, potential difficulties in terms of withdrawals. One adviser has complained about delays to a £5.5 million withdrawal reported in FTAdviser.
The Times (£) suggests that the Financial Conduct Authority needs to get a grip on the situation.
The same title also reports that SJP has been drawn into talks with clients over whether to withdraw cash from, we presume, Fern A.
On Octo Members, your reviewer says that all this new information makes Octopus the biggest story of the week by finally providing more information. It also has some insight from the webinar and lots of things on the Octopus website – 15 things no less!
There was a big policy announcement at the Conservative Party conference – promising that IHT would come off primary homes altogether and indeed be abolished long term. The Independent reports a poll bounce.
The Financial Conduct Authority (FCA) has appointed Liam Coleman as chair of the Financial Ombudsman Service (FOS), with the approval of the Treasury reports Money Marketing.
Coleman has held previous roles at the FCA, Nationwide Building Society and Royal Bank of Scotland.
A book exploring the financial and human transition from building wealth to using it has been published by financial planner Amyr Rocha Lima.
The book, ‘Enough for What? How to turn your money into retirement worth living’, seeks to address people who have spent decades saving successfully and have sufficient resources but do not know what to do with their money. FTAdviser reports.
Interesting to see James Daley, the founder of Fairer Finance calling on the Chancellor John Healey to balance growth and consumer protection. Professional Adviser reports.
There is a perception that the FCA has gone a little soft.