This feels like an important story but is the Treasury listening? A poll at New Model Adviser’s Investment Retreat found 67% of advisers are being asked by clients if they should withdraw from their pension ahead of the Budget.
It looks like a repeat of last year’s fiasco is on the cards. One question – should the Chancellor rule out a move against tax free cash to calm nerves especially as not everyone has access to an adviser.
The FCA has confirmed that it will not be issuing any additional guidance around AI. Law firm Pinsent Mason analyses the decision here.
I think this is an important reminder from partner Jonathon Cavell so worthy of note.
“This is far from a benign reminder from the FCA. By re-signalling that firms must manage AI risks within existing frameworks rather than expect bespoke rules, the FCA is reminding firms that they should already be proactively considering the impact of AI on the effectiveness of their controls framework.”
Your humble reviewer thinks this is a mistake on the part of the regulator. At the very some some non-handbook guidance and an idea of good and bad practice would surely be appropriate.
The Children’s Isa (TCI) has completed the transfer of 126,000 Isa and Junior Isa accounts from Embark onto Quai Digital’s platform.
The move, believed to be one of the largest migrations out of Embark to date, was delivered in just seven months reports Money Marketing.
Newcastle Building Society is offering a 98% mortgage to first-time buyers – but bars help from the ‘bank of mum and dad’.
The latter detail and how it will be enforced has caused a lot of debate. The Guardian reports.
Tavistock Investments has bought a majority stake of 76.59 per cent in Lifetime Financial Management, a deal worth £5.95mn, according to FTAdviser
It looks like it heralds a bigger move into hybrid advice.
