Good morning and welcome to your Morning Briefing for Wednesday 10 December 2025. To get this in your inbox every morning click here.
FCA launches new tool to fight financial crime
The Financial Conduct Authority (FCA) has launched a new tool in a bid to help fight financial crime.
According to the regulator’s research, around 800,000 people reported losing money to investments or pensions related scams in the 12 months to May 2024.
To help combat this, the FCA has launched ‘Firm Checker’ to help consumers avoid scams.
It said that by using the tool and checking if a firm is authorised and has the correct permissions to provide services, people can significantly reduce their chances of falling victim to fraud.
Leader: Will the ‘triple-lock taboo’ ever be broken?
For a policy so routinely criticised, the state pension ‘triple lock’ has an uncanny knack for political survival.
For the untutored, or for those living under a rock these past 15 years, the triple lock guarantees that the state pension will rise each year in line with either inflation, wage increases or 2.5% ─ whichever is the highest.
Chancellor Rachel Reeves used her first Budget to recommit to it yet again, with a 4.8% increase from April that nudges the full new state pension above £240 a week. The sequence is now well rehearsed: breathless speculation, followed by a firm restatement of faith.
Half of consumers would use targeted support, Dynamic Planner reveals
One in two people would use targeted support if it were available to them, according to new research from Dynamic Planner, highlighting a significant appetite for services that sit between guidance and full advice.
The study, conducted in conjunction with behavioural consultancy Humans and Money, found that 52% of consumers would engage with targeted support.
This figure rises to 62% among those aged 25-44, suggesting the proposal could be key to unlocking the ‘advice gap’ for younger generations.
Quote Of The Day
A child’s pension might not be the most exciting Christmas gift, and it doesn’t offer the instant thrill of unwrapping a toy, but it can be one of the most valuable and a gift that keeps on giving for decades
– Mike Ambery, retirement savings director at Standard Life, suggests pensions are the perfect Christmas gift
Barclays is warning that the rise of ‘finfluencers’ is fueling a spike in financial losses, as social-media users increasingly prioritise aspirational content over due diligence.
With investment scam claims doubling and younger generations particularly vulnerable to unverified online advice, the bank is urging caution against acting on “get rich quick” narratives.
The stats show:
42%
of those who acted on ‘finfluencer’ advice lost money as a result.
77%
of investors recognise that following social-media advice puts them at risk of scams.
58%
of Gen Z investors are more likely to follow tips from influencers who appear wealthy.
48%
feel pressured to act quickly on social-media advice, double the national average.
53%
of those using social media for guidance, fail to carry out reliability checks on content.
33%
of investors have acted on ‘finfluencer’ investment advice.
24%
of all investors feel pressured to act quickly on unsolicited social-media advice.
61%
of investors would welcome a formal verification system for financial influencers.
Source: Barclays
In Other News
The Chartered Insurance Institute (CII) has teamed up with Birmingham City University (BCU) for a pioneering 12-month pilot designed to shore up the insurance talent pipeline.
Amid warnings of a workforce crisis — where half of brokers fear talent shortages and only 4% of young people consider the sector appealing — the initiative seeks to demystify the profession.
Led by former MP Craig Tracey, the programme connects students directly with insurers and brokers through mentoring, live briefs and placements.
Tracey hailed the move as “decisive action” to address widening workforce pressures and showcase the sector’s dynamic career opportunities.
From Elsewhere
Bank of England rate-setters stay divided on policy (Reuters)
Biotech rally mints huge profits for hedge funds (Financial Times)
Half of wealthy Britons risk shock inheritance tax bills from gifts (The Telegraph)
Did You See?
For years, the US equity market has been dominated by a handful of mega-cap tech names, the so-called “Magnificent Seven”: Apple, Microsoft, Amazon, Alphabet, Tesla, Nvidia and Meta.
Their stellar performance has rocketed US and global indices higher, but as Michael Field writes, it has also created a risk of extreme concentration.
Today, the top 10 US stocks account for roughly 35% of the market, up from 18% a decade ago. This means that portfolios tied to broad benchmarks are far less diversified than they appear. If any of these giants stumble, the fallout could be swift and severe.
History offers a cautionary tale. During the dot-com bubble, the largest 10 stocks surged to 24% of market capitalisation. When lofty expectations collapsed, trillions in value evaporated. While concentration doesn’t guarantee a downturn, it erodes diversification and amplifies vulnerability.
