Good morning and welcome to your Morning Briefing for Thursday 6 July, 2023. To get this in your inbox every morning click here.
Digitisation
Platforms have risen to the challenge of digitisation, a new report by NextWealth has revealed.
The firm’s latest tech stack report – entitled Paper Trails to Digital Highways: Assessing Digitalisation of Processes for Investment Platforms – found the overall number of processes digitalised across 19 of the 20 platforms surveyed, has risen by 3% from 2022 to 81% this year.
Mortgage vs investments
Financial advisers talk to clients about saving for the long term through pensions and other vehicles.
In stable economic times they might suggest that a fair amount of income goes to saving and the rest into a mortgage.
But that might need to change with the steady rise in interest rates that has pushed up mortgage bills.
Maybe your clients are considering cashing in their pensions or other investments to pay for the house as quickly as possible and obtain an asset?
This is the subject of our weekly poll below.
Quote Of The Day
The FCA’s problem is that it is effectively powerless to act in this high-profile case.
– Simon Morris, a financial services Partner with law firm CMS, on the FCA investigation into Odey Asset Management
Stat Attack
Gen Z forecast to account for 40% of retail spend, yet refuse to put money in the pockets of unsustainable businesses.
52%
Of Gen Z are more likely to trust a business if they know it is taking action against climate change
35%
Only support businesses that put sustainability at the forefront of their operation
33%
Would never apply for a job with a company that doesn’t prioritise sustainability
Source: SaveMoneyCutCarbon
In Other News
The ESG Data and Ratings Code of Conduct Working Group (DRWG) has launched a consultation for a draft voluntary Code of Conduct for ESG data and ratings providers.
It is supported by the International Regulatory Strategy Group (IRSG) and the International Capital Market Association.
The consultation period will run from 5 July 2023 to 5 October 2023 and interested stakeholders are invited to submit their comments via email to drwgsecretariat@icmagroup.org.
Triple Point has appointed Neil Ebden as chief risk officer. Ebden arrives with a wealth of experience in risk management including operational, conduct, and regulatory risk making him a valuable addition to Triple Point.
He will be responsible for designing, developing, directing, and managing the overall risk management of the company.
His role will involve ensuring effective identification, measurement, control, and management of the relevant risks as Triple Point continues to grow across its investment strategies.
Ebden joins Triple Point from the Bank of England where he was senior risk specialist.
This is the latest in a series of high-profile appointments to the senior leadership team which includes Diego Massidda as head of Triple Point’s Digital Infrastructure team and Matthew Brown as group head of marketing.
Atomos has appointed Spyridon Kouris to the investment team as investment risk manager.
Kouris joins Atomos from Artemis where he headed the fixed income risk function. Prior to this he worked with USS, Franklin Templeton and City Fund Management.
Kouris holds a PhD in Theoretical Physics from the University of York.
Atomos is a UK-based, digitally enabled, hybrid wealth business providing a full financial planning service and bespoke portfolio management.
Originating from the Sanlam Wealth UK business, Atomos is 100% owned by funds managed by Oaktree Capital Management, and is led by CEO, Jonathan Polin. The company manages of £7 billion of investments and savings for around 8,000 clients.
From Elsewhere
Britain’s debt addiction makes a stock market revival impossible (The Telegraph)
UK trade talks ‘moving very well’, says Indian minister (Financial Times)
Californian winemakers are learning firefighting techniques (BBC News)
Did You See?
Richard Bacon is head of business development at Shard Capital and he has interesting thoughts on mergers and acquisitions.
He goes through some of the biggest deals in the advice sector of recent years and asks where the client is in the story.
You can read the article here.
