Are platforms facilitating charging structures that don’t meet the spirit of the RDR?
This is a very challenging story involving Cofunds and Chase de Vere with Chase asking that the platform facilitate a small extra charge for clients for among other things future development costs. There is much debate as to whether this could be against the spirit of the RDR. Indeed, Money Marketing's headline suggests that these are ‘anti-RDR’ charges. Some experts think the FCA may have approved or at least not have disapproved of the charging structure.
On FTAdviser Simoney Kyriakou discusses how her personal circumstances mean it makes sense for her to invest in a Lisa.
This reviewer has a very different opinion about whether this product is a good idea for society given the damage it could do to auto-enrolment.
Money Marketing’s resident controversialist Nic Cicutti says the lifetime savings blunder won’t solve the savings gap. No indeed. Neither pension nor housing crisis will be solved by this though free money is not to be sniffed at if you qualify.
The PFS’s Keith Richards suggests that the FAMR and its change in definitions represents significant progress.
Yet there is a lot of scepticism about the ‘five nudges or rules of thumb’ issued by the Treasury in the recent paper about advice and guidance.
The chief exec of TransferWise Taavet Hinrikus, speaking just after the Chancellor, has criticised Brexit at a government sponsored Fintech conference saying he might not have set up in London had it been outside the EU at the time.
Citywire discusses the launch of the pension dashboard and how it might be presented and utilised by the public. Eight teams competed at a TechSprint event at the Aviva Digital Garage in Hoxton Square, East London and a lot of people won prizes.
Using design techniques and flexibility and even 'digital garages' to work out new initiatives may make sense. Yet will any of this really work with consumers? But they gave out prizes and everyone likes winning those. Some IFAs on social media sounded a little sceptical.
On Mortgage Strategy, Coreco’s Andrew Mortlake discusses the buy-to-let changes and suggests that calling them a tenant tax may be counterproductive. Well quite.