Catch up on Money Marketing’s most popular stories this week. The FCA warns firms of Consumer Duty deadline and insights from Money Marketing Interactive Leeds. Read more below:
FCA warns firms of Consumer Duty deadline
The Financial Conduct Authority has issued a warning to firms not to overlook the approaching deadline for the Consumer Duty, which is set for 31 July. This duty is intended to provide enhanced protection for consumers and will take effect in less than 90 days.
How close is AI to predicting the stock market?
Larry Cao, senior director of industry research at CFA Institute, explains the challenges of using AI to predict the stock market and how its ability to replicate functions across industries is causing many professionals to wonder when it will impact their jobs and how they can learn to work with the technology.
Tony Wickenden: What the DGT rate rise means for IHT planning
Tony Wickenden discusses the challenges of IHT planning with regards to donor control and access to assets. He explores how discounted gift trusts and loan trusts can be effective solutions. He also explains the impact of the recent increase in interest rates on discounted gift trusts.
Why decumulation could be the next piece in the pensions reform puzzle
Nigel Peaple, Director of Policy and Advocacy at PLSA, is calling on government, regulators and the pensions industry to adopt Guided Retirement Income Choices (GRIC) to support retirees with complex decisions. GRIC would deliver well-designed solutions to guide and inform savers through a saver engagement journey and set minimum product standards.
Advisers ‘should use cashflow planning but it is not everything’
Every financial adviser “should have cashflow planning but it should not be the whole conversation”. This is what Lyndhurst Financial Management financial planner Rory Albon said at Money Marketing Interactive in Leeds May 2023.
Perspective buys four further IFA firms
Perspective Financial Group has acquired Tees Valley Asset Management, P Bennett & Associates, Oak Financial Management (MCR) and Marlborough Place, expanding its total number of offices to 27. The acquisitions also create a new location in Belfast, Northern Ireland, for the group.
Succession Wealth expands Scotland presence with Edinburgh acquisition
Succession Wealth, owned by Aviva, has acquired independent financial advice firm Spence & Spence, pending regulatory approval. The Edinburgh-based firm, established in 1994, manages £170m in assets.
B&G investors plea for compensation help
Basset & Gold investors accuse Gallium Fund Solutions of delaying compensation for three years since the company went into administration.
Advisers urged to revisit FCA’s expectations on equity release
James Marshall, a principal consultant at Bovill, highlights the importance for advisers to refresh their knowledge of the Financial Conduct Authority’s (FCA) expectations for equity release advice. With the equity release market continuing to grow and clients potentially being financially vulnerable, advisers must challenge client assumptions, deliver personalised advice, and clearly demonstrate and evidence the suitability of their advice.
M&G backed firm makes two senior hires
Professional Independent Wealth Advice Ltd (PIWA) has appointed Peter Loughridge as joint chief executive alongside Neil Messenger. The appointment is subject to regulatory approval and Loughridge brings a wealth of experience to PIWA.
