Money Marketing’s Weekly Must-Reads: Top 10 Stories
As the financial services sector continues to evolve, the headlines this week have provided plenty to talk about: from a significant corporate acquisition as Aberdeen sells its financial planning arm, to a victory for pension fraud victims recovering £81.5m.
Here are the top 10 most-read stories on Money Marketing from the past seven days:
Aberdeen sells financial planning arm to Ascot Lloyd
Aberdeen is offloading its financial planning arm to national advice firm Ascot Lloyd, in a move designed to strip things back and sharpen its focus on core business lines.
Group CEO Jason Windsor framed the sale as part of a broader push to boost performance and position Aberdeen as a heavyweight in the wealth and investment space.
As part of the deal, the two firms won’t be parting ways entirely — Aberdeen will continue to support Ascot Lloyd through its Wrap platform, keeping a commercial link in place.
FNZ rolls out AI tool to boost adviser efficiency
FNZ has launched Advisor AI, a generative AI tool built into its wealth management platform and pitched as a way to help advisers cut down on admin and dial up personalisation.
The move follows research showing growing client demand for more tailored service. FNZ says the tech will free up advisers to spend more time with clients — and deliver better-quality advice as a result.
Aberdeen: The draft rules for IHT sharpen the focus for advisers
Draft legislation on pension death benefits has finally given advisers some much-needed clarity on the inheritance tax front, according to Andy Zanelli, head of technical engagement at Aberdeen Adviser.
From April 2027, the reporting burden will shift to personal representatives, and the old business relief workaround is being shut down. Zanelli sets out a four-stage process for estates under the new regime, warning that pensions can no longer be assumed to be IHT-free across the board.
Pension fraud victims recover £81.5m with further payments to come
More than 2,000 pension scam victims have now recovered £81.5m in compensation — with more payments still to come — thanks to a landmark 2020 High Court ruling that opened the door to the Fraud Compensation Fund for defrauded occupational schemes.
Regulators including The Pensions Regulator and The Pensions Ombudsman called the payouts “life-changing” for those affected, but warned the industry not to let its guard down. Their message: keep reporting anything suspicious to Action Fraud — prevention is still the best line of defence.
Dr Tom Mathar: Why we need a new kind of financial adviser
Aegon’s Dr Tom Mathar is calling for a new breed of adviser: the financial life planner. Less about chasing returns and trimming tax bills, and more about helping clients align their money with what actually matters to them. It’s a shift from spreadsheet to soul-searching.
These planners offer behavioural coaching and broad-based support, guiding clients through life’s big transitions and helping them strike that elusive balance between financial security and personal fulfilment.
Reaction as chancellor considers cap on lifetime gifting
Reports suggest the Chancellor is weighing up a lifetime cap on tax-free gifts as part of a broader inheritance tax shake-up.
The reaction from the industry was swift and sceptical. Some warned it could trigger a “political firestorm”, particularly among middle-class voters. Financial planners flagged the move as a major shift in policy, potentially tricky to implement and likely to prompt a wave of large, early gifting.
There’s also concern it could dent the UK’s appeal to high-net-worth individuals.
Adults associate anxiety, fear and guilt with spending retirement savings
Aegon research has found that many UK adults link retirement spending with negative emotions: anxiety, fear, even guilt. On the Money:Mindshift podcast, financial planner Dan Haylett tackled the common struggle to shift from a lifetime of saving to actually spending.
His take? Advisers can play a key role by helping clients reframe retirement outgoings as investments in joy and legacy — giving them the confidence to enjoy the life they’ve worked hard to build.
Aviva launches guaranteed fixed-term annuity
Aviva has launched a fixed-term guaranteed annuity aimed at giving clients more security and flexibility, without locking them into a lifetime commitment.
The product offers a guaranteed income for a set period, anywhere from three to 25 years, giving retirees the chance to reassess their strategy down the line. The launch follows research showing that a steady income remains a top priority for many in retirement.
Aviva says the new annuity is designed to boost client confidence and sits neatly alongside its existing retirement income range.
Tom Selby: Whispers of a pensions tax raid grow louder
Tom Selby, director of public policy at AJ Bell, says the rumours of a pensions tax raid are getting harder to ignore as the Autumn Budget approaches.
With few easy ways to raise revenue, he suggests the chancellor could take aim at pensions tax relief — possibly moving to a flat rate — or capping the tax-free lump sum.
But Selby warns that these kinds of reforms would be politically explosive, especially among public sector workers and higher earners, and risk unsettling long-term saving in the process.
Platforum: The increasingly leaning tower of model portfolios
