Money Marketing’s Weekly Must-Reads: Top 10 Stories
The financial services sector is navigating a period of significant flux, balancing immediate post-Budget scrutiny with predictions of historic industry transformation.
We look at Lloyds claiming the next five years will be the most transformational in half a century, alongside news that the FCA is questioning MPs over Budget-sensitive data.
Here is the full rundown of our top ten:
Next five years more transformational than last 50 for financial services, says Lloyds
Lloyds Bank CEO Charlie Nunn has predicted that the next five years will prove more transformational for financial services than the last 50 combined.
Speaking at the FT Global Banking Summit, he has revealed plans for an inclusive AI investment app arriving in 2026.
Emphasising the need for business investment, Lloyds has also joined the FCA’s new AI sandbox alongside NatWest and Monzo to safely test these tools.
True Potential hires first chief people officer
True Potential has appointed Laura McCall as its first chief people officer, marking a major milestone for the wealth manager in Newcastle.
Joining in early 2026 from Baillie Gifford, she has been tasked by CEO Gerry Mallon to shape the group’s people strategy and strengthen company culture.
McCall has expressed enthusiasm for the position, keen to build on the team’s passion and support the firm’s ambitious next chapter of continued growth.
Clifton Wealth Partnership makes tenth acquisition of 2025
Clifton Wealth Partnership has hit double digits for deals this year, snapping up Wales-based Lifestyle Financial Advice as its tenth acquisition of 2025.
The move has added £75m in assets, while director Iain Atmore has chosen to stay on to support his 400 client households.
MD Anthony Carty has praised the firm’s integrity, noting that the group has successfully added over £700m in assets during a busy year of growth.
FCA writes to MPs over handling of Budget-sensitive information
The FCA has written to the Treasury Committee regarding the handling of sensitive Autumn Budget data.
Chief executive Nikhil Rathi has confirmed that no formal investigation has started, though the regulator has reviewed potential market abuse risks. He has noted the Treasury is running a leak inquiry and has requested their findings be shared.
Rathi has also welcomed full cooperation from the Office for Budget Responsibility following its publishing error.
Aviva upgrades tech as guaranteed income demand surges
Aviva has completed the first phase of a major tech overhaul, upgrading its annuities business to meet surging demand for guaranteed income.
The provider has successfully launched GBST’s Composer platform, introducing a new fixed-term income plan while aiming to migrate legacy customers soon.
Director Claire Reed has championed the upgrade for its flexibility, ensuring better service for advisers. The move marks a timely step forward as retirees seek more security.
Chris Jones: We must rethink who gets to become an adviser
Chris Jones has argued that the profession must rethink recruitment to tackle the widening advice gap.
The Quilter Academy head has warned that relying on people ‘falling into’ advice is no longer viable as the workforce ages. He has called for structured training to attract diverse talent from non-traditional backgrounds, insisting capacity must be built intentionally.
Jones has championed opening doors to those outside finance to secure the sector’s future.
Poor platform service still harming advisers, study finds
Parmenion’s latest research has revealed that poor platform service is still causing headaches for over half of financial advisers.
The study has found that 90% of professionals have had to apologise to clients for service failings this year.
While the situation has slightly improved since last year, CEO Martin Jennings has warned that firms are still wasting four hours a week resolving issues, prompting many to switch providers.
Behind the Headlines: The salary sacrifice squeeze
Editor Tom Browne highlights a glaring contradiction in government policy following the Autumn Budget.
While the DWP pushes for higher pension saving, the Treasury has introduced a £2,000 cap on salary sacrifice National Insurance relief from 2029. PIMFA’s Simon Harrington has warned this mixed message could damage engagement, while Succession Wealth notes it unfairly punishes higher earners.
The industry remains unimpressed, arguing ministers should be making investing easier, not harder.
Hargreaves Lansdown strengthens platform with new chief product officer
Hargreaves Lansdown has strengthened its top team by appointing Doug Abbott as chief product officer.
Snapped up from Vanguard, he will report to CEO Richard Flint and oversee the platform’s product strategy, including its £11bn fund range. Flint has hailed Abbott’s “deep understanding” of client needs as the firm expands into private markets.
The move signals a fresh drive to broaden investment choices for the Bristol-based giant’s massive user base.
FCA helps firms to test AI safely
The FCA has launched an ‘AI Live Testing’ initiative to help major firms deploy artificial intelligence safely.
Working with technical partner Advai, the regulator has invited big names like NatWest, Monzo and Scottish Widows to experiment in a controlled environment.
Jessica Rusu has hailed the project as a practical way to ensure responsible innovation. The move has been designed to let the watchdog see exactly how AI impacts real-world markets.
