Money Marketing’s Weekly Must-Reads: Top 10 Stories
Catch up on this week’s essential headlines from the world of financial services, including the FCA’s plans to launch a private stock market to drive growth and fresh research revealing that fewer consumers are willing to pay for advice.
FCA to launch private stock market in growth boost
The FCA announced final rules for its new private stock market platform, PISCES, set to launch later in 2025.
Designed to boost liquidity and growth in the UK’s private company sector, PISCES allowed secondary trading of private shares while giving firms control over pricing and investor access.
Industry leaders welcomed the initiative, viewing it as a bridge for companies preparing for public markets and a driver of market competitiveness.
Why are financial advisers launching businesses now?
Despite a tough economic climate and a record low in new UK business start-ups, many financial advisers launched their own firms in 2024.
Motivated by personal values, career shifts and the desire for independence, advisers like Mark Ventham, Simon Fettroll, David Chamberlain and Ross Leckridge shared how changing circumstances and mismatched values with employers drove their decisions.
Industry support programmes helped smooth their transitions into self-employment and direct authorisation.
Fewer consumers willing to pay for advice, study finds
A 2025 Boring Money study found fewer consumers were willing to pay for financial advice, with only 39% of non-advised investors and savers expressing interest, down from 54% in 2023.
Many turned to digital sources, social media, or family and friends instead. Despite this, advised clients reported high satisfaction. The report highlighted gender differences in adviser trust and anticipated changes from the FCA’s forthcoming advice/guidance boundary review to reshape access.
Setul Mehta joins Royal London protection team
Royal London appointed Setul Mehta as Take to Market Lead within its protection proposition team.
Mehta brought senior experience from AIG Life and The Openwork Partnership, and had recently founded SM Advice, a social media management firm for financial services. Reporting to Fi Wynn, Mehta was expected to strengthen Royal London’s protection offering.
Both Mehta and Wynn highlighted the role’s importance in delivering the firm’s ambitious plans and enhancing adviser engagement.
FCA appoints Sarah Pritchard into new deputy chief executive role
Sarah Pritchard was appointed as deputy chief executive of the Financial Conduct Authority, a newly created role reflecting the regulator’s expanding remit. Her responsibilities included overseeing the integration of the Payment Systems Regulator and regulation of stablecoin, crypto and BNPL activities.
Pritchard, who had led key FCA reforms such as listing rules and financial guidance changes, was expected to support the organisation’s international focus and help deliver its ambitious growth strategy.
Cover story: Financial advice networks are not dead
Lois Vallely’s cover story argued that financial advice networks, like peppered moths, were evolving rather than dying, despite predictions of obsolescence due to regulatory pressures such as RDR and the Consumer Duty.
Networks adapted by offering compliance support, technology integration and training. Challenges included rising costs and outdated models, but their ability to provide autonomy, economies of scale and wraparound services ensured survival.
The collapse of Tenet Group highlighted risks, but commentators believed networks would thrive by modernising and delivering clear value to advisers and clients.
There has been a ‘backlash to the ESG backlash’, says Fidelity
Fidelity International’s Jenn-Hui Tan stated that ESG investing faced a political-driven backlash, particularly in the US, but also experienced a “backlash to the backlash”.
Despite criticism and underperformance, demand for responsible investing persisted, with 72% of consumers wanting their money to achieve good alongside returns. Industry figures urged long-term thinking over short-term political noise.
Tan and others expressed optimism that ESG investing would emerge stronger after this challenging period.
L&G makes changes to senior group protection team
Legal & General announced leadership changes within its group protection division.
Tracey Bridger was appointed claims & governance director from January 2026, succeeding Vanessa Sallows, who would step down but remain in a part-time role as claims & clinical development director. Bridger, with over 20 years at L&G, was praised for her operational excellence and empathy.
Sallows planned to continue mentoring, media commentary and contributing to the company’s claims and clinical strategies.
Intelliflo launches two new solutions to help ‘drive adviser efficiencies’
Intelliflo launched two new solutions — Intelliflo IQ and Intelliflo Video — at its annual adviser conference to boost adviser efficiency.
Intelliflo IQ introduced AI-powered tools designed to streamline client engagement and advice delivery, saving advisers significant time and effort. Intelliflo Video aimed to simplify financial concepts through tailored video content, enhancing client understanding.
Both tools were integrated into Intelliflo Office, with phased rollouts planned. Enhancements to the Wealthlink proposition were also announced.
Allfunds founder CEO Juan Alcaraz announces departure
Juan Alcaraz, founder and CEO of Allfunds Group, announced his departure to pursue new challenges after 25 years.
He would remain in an advisory role for 12 months to support leadership transition. Alcaraz built Allfunds into a leading global WealthTech platform with over €1.5trn in assets.
Annabel Spring was appointed as the new CEO, bringing 30 years of wealth management experience, set to lead Allfunds into its next growth phase.
