The matter of the levy continues to dog advisers.
Liz Field, CEO of PIMFA warns the direction of travel on FSCS levies is not one that brings confidence. Field is very robust on these matters, but it feels as if the Treasury in particular remains distracted and unlikely to usher in the necessary reforms.
It feels more like fire fighting is the order of the day.
As if by way of illustration, the Financial Services Compensation Scheme (FSCS) has begun offering compensation to London Capital & Finance bondholders eligible under the government’s scheme.
It sent out letters to around 1,000 bondholders last week.
Platforum discusses the quiet revolution of ESG fund data across Europe. It is clear advisers will have to increase their knowledge, but I am not convinced the UK is there yet.
The FCA plans to introduce a default pension investment option for non-advised savers outside of workplace schemes to boost retirement savings – much of this is encouraging people away from cash. Advice would, of course, be better.
There is a little irony here perhaps – retail Black Friday coincides with the more traditional Black Friday designation for a fall in markets. The FTSE 100 falls three per cent over concerns about the Omicron variant.
Finally let’s return to a link from a little over a week ago because this was a very good idea for an interview on FTAdviser. Kate Bingham, who was clearly incredibly effective in devising and implementing the UK’s vaccine strategy is interviewed on FTAdviser about the therapies she choses to invest having recently returned to SV Health Investors.