Back to the grindstone for advisers though with a sense that news journalists are still warming up a little. However, the following story may be significant.
FOS has ruled that a True Potential ‘non-advised sale’ was actually advice with the firm to pay compensation for unsuitable fund switch. FOS says the ruling fall within its remit as New Model Adviser reports.
Professional Adviser discusses the National Insurance cut which came into force this weekend with concerns about some financial planning challenges.
Keir Starmer would reverse any IHT cut from the Conservatives, Citywire reports. Battlelines are, very obviously, being drawn for the election. But it is interesting that Starmer must believe he can make a fiscal and fairness case, which seems to be contrary to where public sentiment is.
FTAdviser offers a useful long read considering whether Consumer Duty could lead to more claims chasing complaints.
A good quote in this from Russell Facer, chief executive of Threesixty. He says: “A lot of firms, particularly clients we deal with, spend a lot more work in making sure they can evidence what good looks like, and making sure they have got a good proposition.
“So I think the claims will come [if] it’s not clear what was supposed to be happening: ‘I understood that I would be getting these and I’ve not been getting them’ – has there actually been an agreement put in place to say one way or another?”
Roderic Rennison, writing in Money Marketing, discusses walking the line between tech success and failure including considering AI’s impact on support staff.
Gillian Hepburn discusses the informative Schroders Adviser survey also in Money Marketing. Here’s one part.
“Advised clients continue to identify capital preservation as their key financial priority and have less of a focus on inflation and interest rates. Many advised clients are in or near retirement, the stage in life when preserving a pension pot and other assets to fund later life is of particular importance.”
Not surprising, but part of a very useful snapshot when you look at all the findings together.
Phoenix-owned Standard Life is trying to regain its presence in the IFA market (New Model Adviser’s description) with the launch of a platform-like service and is in talks with SS&C to design the service.