The FCA has been inundated with advice about targeted support and how to make it more effective as the deadline for responses to the consultation ended on Friday last week. One clear theme is a call for clearer rules but there isn't universal agreement about what changes are needed exactly.
We look at three reports below. In Pensions Age, Aegon's Stephen Cameron is quoted saying the Financial Ombudsman Service must provide reassurance that targeted support “won’t be assessed against the same standards as full advice”.
The ABI is calling for clear targeted support rules but more interestingly for targeted support to be a sort of one-off interation rather than have to be monitored in future.
SJP is calling for adjustments that would allow target support to be delivered in person, as Citywire reports.
In other news, FTAdviser reports the views of Rathbones where the wealth manager says it has seen an increase in clients with property portfolios expressing concern and seeking guidance on how to react to changing legislation regarding tax.
The website notes that a recent report by Rathbones found that residential property has not kept up with the current rate of inflation (3.8 per cent) at 3.7 per cent per annum between 2016 and 2024.
This has led experts to conclude that the Golden Age of property investment is over.
This week's tax speculation involves the possibility of charging landlords national insurance on rental income the Guardian reports. Experts suggest that this latest wheeze will simply mean rent rises of up to £1,000 a year as the Telegraph suggests.
This is Money considers what this might mean for buy-to-lets.
The Guardian also reported earlier in the week that the threat of all these tax rises in slowing down housing market according to estate agents. That is hardly surprising.
Private equity-backed firm Pivotal Growth has announced two more acquisitions, Money Marketing reports.
The group has purchased both More Choice Financial Limited and McPolin Financial Services to strengthen its footprint across England and Northern Ireland.
