Money Marketing’s Weekly Must-Reads: Top 10 Stories
This week’s top reads uncover the key trends shaping financial advice — from what effective due diligence looks like post-Consumer Duty, to why smarter fee structures may boost adviser efficiency more than tech alone.
What does good due diligence look like in a post Consumer Duty world?
Julie Hardie explored how the Consumer Duty reshaped due diligence in financial advice by broadening product governance and increasing accountability across the distribution chain.
She emphasised using a structured framework based on journalistic principles — the five Ws, plus how and how much — to guide assessments. Hardie highlighted the risks of misinterpreting products, the need for clarity and avoiding tick-box approaches to ensure advisers consistently identify foreseeable harms and deliver good client outcomes.
Adviser efficiency lies in smarter fee structures, not just technology
Niall Buggy argued that financial advisers could achieve greater efficiency by rethinking ad valorem fee models rather than relying solely on technology.
He warned that focusing on asset growth over client value risks repeating past business failures. True efficiency, he noted, lies in aligning pricing with perceived client value.
Without this shift, advisers may miss deeper structural inefficiencies and fall behind more agile competitors who prioritise service quality over simple productivity gains.
Why attracting young women to financial advice is a game-changer
Lydia Richmond highlighted how attracting young women to financial advice could transform the industry by addressing gender imbalance and an ageing adviser population.
With only 18% of advisers being women, she argued that diversity drives innovation, better client connections and business growth. Strategies like flexible working, mentorship, early engagement and inclusive cultures were key.
Richmond emphasised that improving gender diversity was not just ethical but essential for the sector’s long-term success.
Advisers fully leveraging technology outperform peers in record numbers
Firms that fully leveraged technology in 2024 significantly outperformed peers, according to Intelliflo’s eAdviser Index.
“Champion” firms saw 119% more revenue, 105% more ongoing income, 86% more assets under advice and 39% more clients per adviser. The number of low-tech “Explorers” declined as adoption grew.
Leaders credited integrated tech stacks for efficiency, cost savings and stronger client engagement, proving technology was key to competitive growth in financial advice.
L&G enhances CIC and IP but drops fracture cover
Legal & General enhanced its critical illness and income protection products but removed fracture cover for new and renewing customers.
Improvements included higher additional payments for Critical Illness Extra and expanded child condition coverage. Income protection was revised to maintain full benefit despite minor income drops. L&G also simplified policy wording and extended quote validity.
While advisers welcomed many changes, the withdrawal of fracture cover sparked concern and potential compliance issues.
Canaccord Genuity Wealth Management rebrands as Canaccord Wealth
Canaccord Genuity Wealth Management rebranded as Canaccord Wealth to strengthen its UK wealth management presence.
The update featured a new logo, modern typeface, refreshed colour palette and a redesigned website for improved client access. The firm stated the rebrand aligned with its client-focused ethos and evolving identity.
Despite the changes, its business strategy remained unchanged, continuing under Canaccord Genuity Group Inc. with £35.2bn in assets under management.
HMRC to raise at least £110m annually by cutting IHT relief on AIM shares
It was revealed that HMRC would raise at least £110m annually by halving inheritance tax (IHT) relief on Alternative Investment Market (AIM) shares, effective from April 2026.
Following Chancellor Rachel Reeves’s October 2024 Budget, IHT on most AIM shares was set at 20%, down from the previous 40% relief. The move led to an 18% drop in the FTSE AIM 100 Index and drew criticism for harming UK growth companies.
Trump’s tariffs could make investors start to ‘look elsewhere for opportunities’
President Donald Trump’s new tariffs, including a 10% baseline on nearly all imports and higher rates for select countries, had sparked concern among investors.
Martin Currie’s Zehrid Osmani warned the move might push investors to seek opportunities outside the US. Despite a 90-day pause on country-specific tariffs, uncertainty persisted.
Analysts noted potential inflationary effects on the US and possible benefits for emerging markets due to a weakening US dollar.
1,000-day delays: report reveals scale of pension switching crisis
PensionBee’s April 2025 report revealed severe inefficiencies in the UK pension switching system, including a case where a transfer had been delayed over 1,000 days. Based on a Lang Cat survey of 160 advisers, the research highlighted outdated processes, lack of enforcement and inconsistent standards.
Most advisers reported significant delays, with 96% calling for legal transfer timeframes and nearly all demanding standardisation to rebuild trust and improve consumer outcomes in pensions.
Aberdeen’s Alastair Black announces retirement after 35 years
Alastair Black, head of savings policy at Aberdeen, announced his retirement on 30 April 2025, ending a 35-year career in financial services.
He spent 22 years at Aberdeen, having joined in 2002 as a business development manager. Black contributed to major industry changes including pension freedoms and the Consumer Duty.
In his farewell, he reflected on his career with gratitude and said he looked forward to enjoying retirement and new personal pursuits.
