The Conservative Party is reported to be having an internal argument about higher rate tax and a promise by defence secretary Michael Fallon that it will not rise. It is certainly interesting timing.
HSBC targets robo advice to customers with less than £15,000.
Aegon chief distribution and marketing officer Mark Till suggests that robo-advice will not reach scale for five years. Advisers will then see the benefit in improvements in back office systems.
The quote is certainly pithy - “There will be small and niche players serving people who are interested in investing but not serving a great volume of customers. I do not believe that people want to sit in front of a computer, type large amounts of information into it and pay a premium for the computer telling them what to do.”
Ingenious Film Partners loses a crucial court case and owes the taxman £700 million.