Good morning and welcome to your Morning Briefing for Tuesday 11 November 2025. To get this in your inbox every morning click here.
AI will be ‘transformational’ for the advice sector says MKC Wealth CEO
Artificial intelligence will be “transformational for the advice sector”, MKC Wealth chief executive officer Dominic Rose told Money Marketing.
AI can make financial advisers service to clients “far better and quicker”, with MKC Wealth using it to produce client meeting reports.
P1 Platform halves pension drawdown fee and lowers minimum charges
P1 Platform has announced a 50% reduction in its pension drawdown fee, cutting the monthly charge from £10 plus VAT to £5 plus VAT.
At the same time, the platform’s minimum account fee will drop from £5 to £2 per month.
The changes, effective from 1 December 2025, mean that accounts valued at £16,000 or less will now only be subject to the minimum fee, based on P1’s platform charge of 0.15%.
Lessons from the FCA’s review into consolidation
In October 2024, speaking at the Consumer Duty Alliance event in Birmingham, the FCA’s Nick Hulme made it clear that consolidation in the wealth sector is firmly on the regulator’s radar, writes TCC Group strategic regulatory director Jason Wintie.
While the FCA remains agnostic on whether consolidation is inherently good or bad, it’s equally clear about the risks when firms grow without the right controls, governance and focus on good outcomes.
On the 31 October, the FCA published its long-awaited findings from its review into consolidation across the financial advice and wealth management sector. The review offers valuable insight into what the regulator expects from consolidators – not only in terms of prudential soundness but also in conduct, governance and culture.
Quote Of The Day
The UK unemployment rate has jumped up, rising to 5% in July to September 2025 from 4.8% in the prior quarter. Estimates for payrolled employees dropped by 117,000 between September 2024 and September 2025 and decreased by 32,000 on a monthly basis
– Quilter Cheviot head of fixed interest research Richard Carter on the latest UK labour market statistics
Stat Attack
With speculation about a potential cut to the cash Isa allowance in the Autumn Budget, Paragon Bank’s research reveals how cash Isa users would react to such a change.
62%
said they would not consider switching to a stocks and shares Isa if the cash Isa limit were reduced.
57%
would rather opt for a regular savings account.
67%
said that the risk of losing money concerned them most about diverting savings into a stocks and shares Isa, followed by stock market volatility (65%).
27%
of those that hold cash Isas already invest directly in company shares.
Source: Paragon Bank
In Other News
L&G has appointed Ryan Lee to head of liquidity distribution. He will be based in London and work closely with L&G’s liquidity investment team, “to support clients seeking multi-currency Money Market Fund exposure”.
Lee will oversee the distribution of L&G’s cash and Money Market fund strategies. He will report to Laura Brown head of public markets distribution, and lead client coverage for cash investors, offering access to L&G’s Sterling, US Dollar and Euro Money Market Fund range.
He has over 20 years’ experience in liquidity management and joins L&G from DWS Group where he was a director for institutional liquidity management UK & Ireland. Prior to DWS, he spent 16 years as executive director, global liquidity sales at Goldman Sachs.
L&G said: “Growing our liquidity capabilities is a strategic priority for the asset management business, building on the investment team’s long term track record.”
US Senate passes bill to end government shutdown, sends to House (Reuters)
Lloyds used data from 30,000 staff accounts in union pay talks (Financial Times)
Switzerland closes in on US tariff deal (Bloomberg)
Did You See?
One Four Nine Portfolio Management has surpassed £800m in assets under management (AUM) so far in 2025.
This represents an increase of 25% since December 2024.
The investment management arm of nationwide independent chartered financial planning firm One Four Nine Group partly attributed this milestone to continued strong performance across its model portfolio service (MPS) range.
The One Four Nine MPS range was launched in 2021 and has achieved an Expert Rated 5-star ranking in 2024 and 2025 from Defaqto.
The MPS range has also ranked third in Morningstar’s Sustainable Cautious Portfolio category over three years, while the Income Growth Portfolio and Passive Cautious, Balanced and Adventurous Portfolios all rank in the Top 10.
