Pension investors were nine times more likely to accept advice from someone online than they would from a stranger in person, research from the FCA shows amid rising concerns about misselling.
A more concerning number in the same story is that Action Fraud has calculated that the average loss to pension scams since the start of 2021 has been £50,949 – more than double the figure recorded in 2020 at £23,689.
Money Marketing’s essay is about whether the vocabulary of financial services features too much jargon. In summary, yes it does.
Three in ten IFA firms say they have suffered a cut in profits during the pandemic as FTAdviser reports. Not sure it’s that surprising. The analysts believe it is part of a trend.
“Covid-19 exacerbated a trend of declining profitability in financial advisers’ businesses and those hit hardest were laggards in their adoption of various technology systems,” says Cameron Sharma, analyst at Investment Trends.
The Office of Tax Simplification's tax director Bill Dodwell has said some people have "misread" the organisation's recent report on capital gains tax as an endorsement of aligning it with income tax.
He tells FTAdviser’s podcast that the OTS had simply presented chancellor of the Exchequer Rishi Sunak with the choice of aligning the CGT rate or changing the boundary of what is subject to income tax and what is subject to CGT.
UK GDP rose by 0.8 per cent in May, much lower than expectations in terms of a recovering economy.
PFS practitioner panel vice-chair Alasdair Walker discusses the ongoing saga between the CII and its members on a New Model Adviser podcast.
He says the behaviour of the CII’s CEO at the society’s AGM last week showed that it was not listening to the concerns of members. He adds that if the CII won’t listen to its IFA members, then it is time to break with the PFS.