There's a sense that at this time of year, there's a tying off of loose ends but the opinions about the Budget and other market trends continue as well.
The government’s ISA shake-up represents a “missed opportunity” and risks increasing complexity for savers “for the wrong reasons”, according to AJ Bell director of public policy Tom Selby, speaking to Professional Adviser.
Campaigner and former pension minister Ros Altmann says that this year’s Budget, coming on top of last year’s shocking inheritance tax announcement, is another hammer blow to defined contribution pensions. Money Marketing reports.
Private bank Coutts suggests that private markets will play a meaningful rols in its portfolios as FT Adviser reports. Will advisers follow suit? I can still see a certain reluctance following on from liquidity issues with property funds and indeed the defunct Woodford range.
It still feels like there is a need for a conversation in the advised market especially around liquidity if private markets are to be embraced more fully.
Parmenion is looking at merging its two investment management businesses – Evidence Based Investing (EBI) and Parmenion IM. New Model Adviser has the scoop.
The FCA and PRA have proposed the creation of a new FCA mutual societies development unit to act as a central hub of expertise, reduced application times for new societies and free pre-application support for firms setting up as a mutual, as Money Marketing reports.
There will also be a joint review of mutual credit union regulations. As part of the initiative, the Building Societies sourcebook (BSOCS) has been removed from the PRA rulebook with immediate effect.
Finally, a fund manager is buying a corporate pension scheme which reads definitely as something of a first.
Aberdeen Group will replace Stagecoach as the sponsor of its £1.2bn pension schemel.
Under the terms of the deal, a £50m surplus will be shared with the scheme’s 22,000 members, giving them an initial 1.5 per cent uplift to all benefits, as well as better inflation protection. Corporate Adviser reports.
Rates appear to be coming down across the mortgage market. Santander launches 3.51% mortgage rate among reductions, reports Mortgage Solutions.
