Money Marketing’s Weekly Must-Reads: Top 10 Stories
From a new FCA stance on ongoing advice to a significant turn in the FNZ class action lawsuit, this week’s top headlines reflect two of the most-watched stories in the sector.
Here are the ten most-read stories on Money Marketing from the past week:
Jason Wintie: FCA eases tone on ongoing advice but maintains a watchful eye
The FCA recently surprised wealth managers with a muted response to their ongoing advice review, easing industry fears of widespread enforcement. While the regulator noted issues were not systemic, this isn’t a signal of leniency. According to Jason Wintie, strategic regulatory director at TCC Group, the FCA is shifting its focus, expecting firms to proactively demonstrate fair value and engagement, moving from a defensive compliance stance to an embedded value proposition. The book isn’t closed, just a new chapter.
Exclusive: FNZ class action lawsuit loses only institutional backer
In a surprising twist, the only institutional backer of the FNZ class action lawsuit has pulled out, leaving the case without a major corporate plaintiff. The lawsuit, brought by current and former employees, alleges they were unfairly diluted in a series of equity raises. While the case faces new hurdles, the claims against the fintech giant’s board and constitution changes remain at the heart of the dispute.
Oberon acquires WH Ireland wealth management division for £1m
Oberon has acquired the wealth management division of WH Ireland for £1m, a deal that will see £850m in client assets transfer to the firm. The acquisition will expand Oberon’s national footprint and its team of advisers, who will join the firm to ensure a smooth transition for clients. This strategic deal is expected to complete in October 2025.
Rachel Vahey: Lifetime Isa reform is long overdue
The Treasury Committee is urging the government to reform the Lifetime Isa, but officials are taking their time. Rachel Vahey, head of public policy at AJ Bell, notes that while people who have a Lisa like it, its design flaws—particularly the penalty for early withdrawals—deter others. The committee argues the penalty is unfair and that the government should revert to a pandemic-era approach. The industry now awaits the Autumn Budget for a resolution.
UK individuals pay more than double IHT on gifts than a decade ago
New HMRC data reveals that UK individuals paid over double the Inheritance Tax (IHT) on gifts in 2021/22 compared to a decade ago. With £221m paid on gifts alone, many families are being caught out, often due to a lack of planning. Experts advise that while rules can be complex, making use of tax-free allowances and structuring gifts correctly can help avoid unnecessary tax bills.
PFS £1m talent drive attracts 250 aspiring planners
The Personal Finance Society’s £1m ‘Pathway to the Profession’ initiative has attracted over 250 aspiring planners since its July launch. The programme, which offers funded exams, mentorship, and free membership, aims to bring new talent into the industry. The strong initial interest has exceeded expectations, showing a clear appetite for financial planning careers and demonstrating the PFS’s commitment to building a more accessible profession.
Quilter Cheviot names John Goddard as new CEO
Following regulatory approval, Quilter Cheviot has appointed **John Goddard** as its new chief executive. Goddard, who brings almost three decades of experience from his time at HSBC, succeeds Andy McGlone, who is retiring after 31 years with the firm. The appointment is expected to help Quilter Cheviot expand in the high-net-worth market and capitalise on new growth opportunities.
Network Flying Colours launches platform with Seccl
Flying Colours has partnered with Seccl to launch a new investment platform, aiming to improve its client services and provide a more cost-effective solution for smaller investors. The move, which integrates Seccl’s technology with Flying Colours’ existing systems, will give the firm greater control over its tech stack and client experience. This innovation is a bold step towards efficiency and growth.
Steve Berridge: A new season of pension uncertainty
With Parliament back in session, there is renewed speculation that Chancellor Rachel Reeves will target pension benefits in the upcoming November Budget. Steve Berridge, technical services manager at IFGL Pensions, notes that reports suggest the government may remove or cap tax-free pension cash sums and introduce a flat rate of tax relief. This has raised concerns for advisers who must now help clients navigate the potential for hasty decisions amidst ongoing pension uncertainty.
InvestAcc set for AJ Bell SIPP deal as revenues rise 20%
Pension administrator InvestAcc is poised for a significant acquisition, with a deal to buy AJ Bell’s SIPP business due to complete in November. This follows a robust first half of 2025, which saw revenues jump by over 20% to £6m, driven by strong organic growth. With new funding and an upgraded platform, the company is set to become a market leader in SIPP administration.
