Good morning and welcome to your Morning Briefing for Friday 24 October 2025. To get this in your inbox every morning click here.
Probate disputes soar 37% as expert warns against estate planning ‘delay’
One in three UK adults (18.4m) are now financially dependent on a future inheritance, with five million admitting they will fall into debt without it, new research has revealed.
However, a rise in probate disputes and a failure to plan for complex intestacy rules mean many risk seeing their assets divided against their wishes, an inheritance expert has warned.
The report from probate lenders Level Group, published ahead of National Estate Planning Week (20 October), found that over half of UK adults (54%, or 29m people) expect to receive an inheritance in the next 20 years.
Darren Winfield: How to meet FCA expectations through faster platform transfers
Platform transfer efficiency has become a defining Consumer Duty issue. Advisers are under growing pressure to ensure transfers are fast, fair, and transparent – not only to meet FCA expectations, but to deliver genuinely better outcomes for clients.
New Defaqto data reveals a wide variation in transfer times, from as little as five days to as long as 110 days, raising serious questions about platform consistency, client experience and fair value across the market.
Transfers may seem operational, but they sit at the heart of the FCA’s principle that firms must act honestly, fairly and professionally in clients’ best interests.
Quote Of The Day
Despite all the doom and gloom surrounding the upcoming Budget, consumers have started to feel a little more confident with the pound in their pocket.
-Danni Hewson, AJ Bell head of financial analysis, comments on the latest UK retail sales figures
Stat Attack
The FCA’s latest half-yearly review of the financial services sector reveals a significant change in the customer complaints landscape. Firms are facing increased scrutiny over client outcomes, leading to more customers formally seeking resolution and subsequently a far higher payout of compensation. This shift highlights persistent service issues in core areas, while showcasing a retreat in others, creating a varied picture across the industry. The stats show:
1.85 million
complaints about financial services firms were received in 2025 H1.
£283 million
of redress paid in 2025 H1, a 20% increase from £236 million figure from 2024 H2.
7%
Increase in banking & credit card complaints.
38%
increase for trust-based pensions, which rose from 6,466 cases to 8,977.
10%
increase in complaints for investments, rising from 52,971.
Source: FCA
In Other News
The MoneyHelper Retirement Adviser Directory (RAD) will be decommissioned on 17 December 2025, the Money and Pensions Service (MaPS) has confirmed.
Launched in 2015 following the introduction of Pension Freedoms, the RAD was designed to fill a crucial gap for an impartial database of retirement advice. However, a comprehensive review found that this gap no longer exists.
MaPS highlighted the significant evolution of the financial advice landscape over the past decade, noting the rise of various commercial and professional directories that now offer sophisticated search capabilities, verified reviews, and adviser matching services.
This decision also reflects a strategic shift for MaPS, which is now prioritising supporting consumers through improved guidance and signposting, rather than maintaining a standalone adviser directory.
MaPS assures stakeholders the decommissioning will be carefully managed to ensure continuity of consumer support, with new guidance being developed to meet current needs. Advisers are not required to take any action.
The CISI Essex branch has appointed Jack Rawlings ACSI, Executive Director at Swissquote, as its new President. He takes over from David Madgwick, Chartered MCSI, who steps down after leading the committee since 2022.
Rawlings, who has spent over a decade in investments and regulatory compliance, will head the Institute’s third-largest UK branch, which represents over 1,200 members. Having served on the committee for eight years, he has been a prominent figure in the Young Professionals’ Network, focusing on career development and change management.
“I look forward to supporting our local professional community and the wider CISI mission,” Rawlings said. “My focus will be to ensure our activities strengthen public trust in our industry and give members the confidence to continually raise the bar for knowledge, skills, and professionalism.”
CISI Chief Executive, Tracy Vegro OBE, welcomed the appointment, praising Rawlings’ commitment to the mission to educate and strengthen public trust.
Gold to Snap Nine-Week Winning Run as Heat Comes Out of Rally (Bloomberg)
What’s making pension funds bet big on bitcoin? (Yahoo!finance)
Investors use dotcom era playbook to dodge AI bubble risks (Reuters)
Did You See?
The CII R06 exam’s 2-week case study window is a common pain point for financial planning candidates.
Catriona Standingford, MD of Brand Financial Training, details a strategic two-phase revision plan. Discover the crucial preparation you can complete before the case studies are released—focusing on exam technique, core processes, and high-yield question types like ‘fact-finding’ and ‘annual review’.
This method shifts the final two weeks from cramming to targeted, client-specific application.
