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Looking Ahead: Season of goodwill, Budget of hard truths

December 1, 2025
in Retirement
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Looking Ahead



December may be the season of goodwill but this year for advisers it begins with something far more prosaic: sifting through the fine print of last week’s Budget.

Far be it from us to compare Rachel Reeves to Ebeneezer Scrooge, but the chancellor’s 26 November performance does have echoes of the Ghost of Christmas Past, especially when we consider the broad tax-raising measures from the previous Budget.

Like everyone else, the Money Marketing team is still digesting the contents, but in the lead-up to Christmas we will be zeroing in on every line, chart and footnote – from pensions and tax to investment and regulatory reform — to understand what it means for you and your clients.

It’s been a year packed with stories, characters and debates

Elsewhere this month, my Leader column asks whether the “triple-lock taboo” has finally been broken. With poll leader Reform branding the policy “unsustainable”, will other parties follow suit? Or will the prospect of an inevitable backlash continue to scare them away?

In keeping with the season, Darius McQuaid turns his attention to gold in his Spotlight feature: has its long march upwards finally levelled off? He digs into the forces shaping demand and price movements, and casts a critical eye over other precious metals.

This month’s MM Meets comes courtesy of Tabitha Lambie, who sits down with Carlton Hood for his first interview since becoming CEO of Guardian in May. Hood reflects on his career, his role and the direction he wants to set for one of the protection sector’s best-known brands.

The chancellor’s 26 November performance does have echoes of the Ghost of Christmas Past

Amanda Newman Smith, meanwhile, continues her Starting Out series exploring the formative years of advisers: the early steps and lessons that guide them long before they’re fully fledged professionals.

And, because it wouldn’t be December without a little indulgence, we’re also bringing you a bumper batch of Christmas content.

Throughout the month we’ll be revisiting some of our favourite pieces from 2025, from long reads and interviews to weekend essays and standout podcasts.

It’s been a year packed with stories, characters and debates, and our end-of-year round-ups will highlight the ones that resonated most with readers and the team alike.

Alongside this, Money Marketing’s reporters will offer their own reflections on an exceptionally busy year.

Investments, technology, pensions, protection — every corner of the industry has shifted in some way, and our team’s year-end pieces will look back at what changed, why it mattered and how it set the tone for the next 12 months.

Carlton Hood reflects on his career, his role and the direction he wants to set

Meanwhile, our regular expert commentators will be turning their gaze forward, previewing what 2026 may bring across those same themes. Will the Consumer Duty continue to reshape advice firms? What happens next in the AI arms race? And how will macro pressures filter into client planning next year? Their predictions — cautious or bold — will land throughout December and into the new year.

Finally, I’ll be popping up with my Christmas message on 19 December, by which point I suspect we will all be ready to catch our breath after a year that never quite took its foot off the accelerator.

In the meantime, stay tuned and keep the mince pies close!

Tom Browne is editor of Money Marketing

Editorial Team

Editorial Team

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