Good morning and welcome to your Morning Briefing for Wednesday 27 August 2025. To get this in your inbox every morning click here.
FCA scam reports near 5,000 in six months
The Financial Conduct Authority has issued a fresh warning about fraudsters impersonating the regulator, after receiving almost 5,000 scam reports in the first half of 2025.
Figures show the watchdog received 4,465 reports of fake FCA scams, with 480 victims tricked into transferring money.
Dollar uncertainty sharpens hedging spotlight
For much of the past 15 years, the US dollar has been strengthening steadily relative to other currencies.
The dollar’s role as the world’s reserve currency has been a source of strength, compounded by the notion of ‘US exceptionalism’ as US equity markets have outpaced their peers over the long term – in part, due to the dominance of US-listed global technology stocks.
Quote Of The Day
With speculation mounting as to what further taxes the chancellor may introduce at the Autumn Budget, the UK’s reputation as a competitive and attractive jurisdiction for wealth will continue to be at risk
– Marc Acheson, global wealth specialist at Utmost Wealth Solutions, on the new four-year Foreign income and gains (FIG) regime
Stat Attack
New research from M&G shows how optimistic younger people are about their finances compared to older generations, but risk being part of a ‘too little too late’ generation if they don’t engage with financial planning.
Key findings include:
47%
Nearly half of Gen Z are confident they’ll have enough money saved for retirement
29%
This is compared to less than a third 29% of 25-34-year-olds and only
25%
of 45-54-year-olds.
51%
of 18-24s-year-olds look to friends and family for retirement saving advice, yet face very different pension challenges compared to parents and grandparents.
8%
When quizzed about their top financial priorities, fewer than one in ten 18-24-year-olds included building a pension pot.
47%
Almost half of Gen Z don’t have a workplace pension.
44%
don’t have any investments.
20%
Despite this, one in five expect to retire between the ages of 50-60. The state pension age will be 68 by 2044.
Source: M&G
In Other News
A new three-year project aimed at helping companies position themselves at the forefront of future pension adequacy provision has been launched by Hymans Robertson.
The leading pensions and financial services firm says responsibility will increasingly fall on corporates to address the adequacy of retirement savings, as they will play a key role in solving the looming UK retirement crisis.
The firm says it is imperative that companies take proactive steps to ensure their employees can retire comfortably.
Failure to do so will result in substantial challenges for businesses, as employees facing inadequate retirement savings will be forced to make difficult decisions regarding their retirement and employment patterns.
Hymans Robertson’s new initiative will focus on equipping companies with the tools and strategies needed to adapt to these changes over the next two to three years.
Research from the consultancy found that more than a third of companies thought that employers should take responsibility for making sure employees have a suitable retirement income.
Frankfurt and Zurich poised to eclipse London in expected IPO flurry (Reuters)
US tariffs on India hit 50% as Donald Trump-Narendra Modi ties sour (Financial Times)
European stocks rebound as traders eye Nvidia earnings (CNBC)
Did You See?
People may start their career in all sorts of roles in financial services before deciding to become a financial adviser, writes features writer Amanda Newman Smith.
They may assume that previous industry experience in a different role gives them an edge in landing their first job as an adviser. But does it?
Industry commentators agree that prior financial services experience can be an advantage for aspiring advisers, but stress this is not guaranteed.
For example, Hoxton Wealth managing director (UK) Jonathon Jay says banking or other financial services experience can give new advisers a “head start” as they will likely already understand the products, the regulatory landscape and how the industry works.
He argues that people who have worked in other areas of financial services sometimes have contacts who can become clients or sources of referral.
