As the Consumer Duty deadline approaches, we are likely to be treated to a lot of analysis about what it really means. Skerritts CEO Paul Feeney, formerly of Quilter, says that the duty will stop buy-and-bolt consolidators in their tracks frustrating their ability to bring fees into line.
A lot is going to depend on the how the duty is enforced.
The FCA’s ESG director Sacha Sadan has pushed back against criticisms of its proposed labelling regime as Professional Adviser reports. The lack of specification of asset amounts in the improvers categories has generated some concerns including from Morningstar which warned of a greenwashing risk.
Sadan has retorted that the FCA has other powers to take against greenwashing. However, apart from a Dear CEO Letter or two, has it even threatened to use them? In addition, it isn’t clear how much a voluntary code around ratings can fill in for regulation and specification.
In addition, how do you measure greenwashing without underpinning metrics. Feels as if there will be a lot more debate.
By harnessing the power of artificial intelligence (AI), advisers can create highly personalised content and more easily specialise in certain areas says Capital Asset Management chief executive Alan Smith with Money Marketing reporting on a workshop he recently held.
Some AI firms are suggesting productivity gains of 30 per cent for advisers, which are clearly not to be sniffed at.
Fraser Mackersie and Simon Moon, co-managers of the Unicorn UK Income Fund, make the case for income funds over what you can get from savings, writing in FTAdviser.
A strong element of /they would say that wouldn’t they', and yet I have heard advisers saying that clients have been asking that question.
Liontrust shareholders have approved the takeover of Global Asset Management by an 84% majority.