Good morning and welcome to your Morning Briefing for Monday 15 September 2025. To get this in your inbox every morning click here.
Aegon targets one million members with new pension app Mylo
Aegon is expanding its digital engagement strategy with the rollout of Mylo, a workplace pension app designed to help people navigate financial decisions at key life stages.
The firm plans to extend the service to more than one million members by early 2026, building on the 550,000 already using it.
PensionBee calls for action for ‘invisible workforce’ with Pensions Commission revival
PensionBee is using this Pension Awareness Day (15 September), to urge the government and the relaunched Pensions Commission to protect the nation’s “invisible workforce”.
PensionBee’s own research showed that 60% of the self-employed and freelance workers cannot afford to save into a pension, with 70% of gig workers showing support for universal pension inclusion that supports every worker regardless of income, employment status, or hours worked.
UK has ‘lost its risk perspective and entrepreneurial spirt’
The UK has “lost its risk perspective and entrepreneurial spirt” whereas emerging markets (EM) are “clamouring” for growth.
This is what Templeton Emerging Markets Investment Trust (TEMIT) portfolio manager Andrew Ness said at a media event last week (9 September).
Quote Of The Day
When that backing disappears, it can feel like being thrown into the deep end without a lifejacket
–
– Clifton Private Finance head of digital James Mulvaney on retirees planning to scale back financial support to younger family members
Stat Attack
Research from MetLife UK has found that the majority of bereaved individuals felt stressed due to high funeral costs.
64%
of bereaved individuals said a funeral for their most recent bereavement left them feeling stressed about how the cost of the funeral would be covered.
20%
felt extremely stressed.
24%
estimate a funeral to cost more than £6,000.
13%
revealed they do not know how much a funeral costs.
30%
are unsure if they would be able to afford the funeral.
Source: MetLife UK
In Other News
HSBC UK Private Bank has opened a new Wealth Centre in Leeds, following the recent launch of the first HSBC UK Wealth centre in July in St James’s, London.
The new centre is located in the heart of the city and will serve as a base for relationship teams to offer “stand-out, personalised wealth management services” for private banking and premier clients in Yorkshire and the North East.
This expansion complements HSBC’s other regional spaces in Birmingham and Manchester, which serve clients in the Midlands and North West respectively.
Over the past five years, the UK private bank’s regional business has grown revenues by over 300%.
The centre is the latest in a range of investments HSBC UK has made into its offering in the wealth and private banking space, as it pursues its goal of becoming a top five wealth manager and seeks to grow assets under management to £73bn.
The new Wealth Centre has opened at the same time as the regional team expands with three new hires.
Gareth Morgans joins from UBS as an investment adviser, Marcus Himsworth joins from UBS as a relationship manager, and Stephen Wright joins from the corporate banking business as a business development manager.
China’s economy slumps in August, casts doubt on growth target (Reuters)
Crypto groups hit out at Bank of England plan to limit stablecoin ownership (Financial Times)
Trump’s love of UK royalty is Starmer’s best hope of making ties special again (Bloomberg)
Did You See?
Financial crime must be tackled head-on if the UK is to maintain trust in its markets and unlock growth, according to Steve Smart, director of enforcement and market oversight at the Financial Conduct Authority (FCA).
Speaking at the 1LoD Financial Crime Summit in London on Thursday (11 September), Smart likened the fight against financial crime to a football match, stressing the need for proactive tactics, clear strategies and teamwork across industries and borders.
“Financial crime doesn’t just steal money – it steals confidence,” he said.
“And that has consequences, because trust is the foundation of growth. Tackling it isn’t optional – it’s a prerequisite.”
Smart pointed to the FCA’s enforcement record, which last year included £186m in fines, convictions for fraud and insider dealing, and action against firms with inadequate anti-money laundering (AML) controls.
He also noted progress in tackling authorised push payment fraud, with 86% of losses reimbursed under new rules.
However, he warned that fraud remains the UK’s most common crime, accounting for 44% of all offences in England and Wales, while money laundering is estimated to exceed £100bn annually.
