Money Marketing’s Weekly Must-Reads: Top 10 Stories
It was a week of sharp contrasts in the financial world. The industry came together to pay tribute to former Aviva CEO David Barral after his tragic death, while on the market front, BlackRock’s decision to offer Bitcoin exposure to UK retail investors sparked significant debate. Both stories were among the most-clicked on Money Marketing.
Here is the full rundown of our top ten articles:
Tributes paid to former Aviva CEO David Barral after fatal crash
The financial industry fondly remembered David Barral, the former Aviva UK & Ireland CEO, who sadly died at 63. Colleagues fondly recalled him as a “superstar manager” and a forward-thinking leader. Barral, who led Aviva from 2011 to 2015, passed away after a tragic car accident near Leeds. Tributes from Aviva, Nucleus, and former mentees highlighted his profound impact. His family mourned a “devastating loss.”
BlackRock brings Bitcoin exposure to UK retail investors
BlackRock has given UK retail investors an easy new way into crypto, listing its iShares Bitcoin ETP on the London Stock Exchange. This move responds to growing demand, with UK crypto investors projected to soon hit four million. The product (IB1T) is 100% physically backed by Bitcoin, held securely in cold storage by Coinbase. This means investors get exposure without the faff of managing a digital wallet or private keys.
CGT penalty cases double as HMRC tightens enforcement
HMRC is cracking down on Capital Gains Tax, with “Failure to Notify” penalties doubling in just two years. This follows the annual allowance being slashed from £12,300 to a tiny £3,000. Experts warn that many more people are now being caught in the CGT net, often accidentally. With 350 penalties already issued this tax year, advisers are crucial to help clients avoid costly mistakes.
Weekend Essay: Why – at 37 – I’m worried about my future
In a refreshingly candid essay, journalist Dan Cooper (37) shared his financial anxieties. He is worried about his future, revealing a pension pot of just £15,000 and £3,000 in savings. After years of only minimum contributions, he is now using the Plum app to save £200 a month. Despite this, he still feels dread about catching up and jokes that he wishes he knew a financial adviser.
FCA signals rewards for firms that ‘do the right thing’
The FCA is rewarding firms that “do the right thing.” At a recent summit, Therese Chambers said cooperation is both ethical and financially smart. The regulator is speeding up investigations and prioritising consumer redress (£442m secured last year). Firms like Barclays saw penalties halved for proactively helping consumers. The FCA’s message is clear: cooperate to reap the benefits, or face costly fines and reputational damage.
Annuities ‘back in focus’ as consumers seek security in retirement
Retirees are swapping risk for reliability, putting annuities “back in focus,” new LV= research found. Certainty (43%) is the new top priority for retirement income. Yet, a “knowledge gap” persists, as few Boomers have considered one. Financial advice significantly boosts confidence (56% vs 26%). To raise awareness, LV= is now championing the first National Annuity Day, helping retirees find stability.
Govt rejects AJ Bell’s Pension Tax Lock call ahead of Budget
The government has declined AJ Bell’s call for a “Pension Tax Lock” ahead of the Budget. AJ Bell’s popular petition hoped to secure the 25% tax-free lump sum. However, the Treasury side-stepped the request, deferring to the new Pensions Commission. This leaves savers in limbo for now. AJ Bell warns this continued uncertainty risks undermining confidence in the “tax pact” for long-term saving.
Employers urged to prepare staff for upcoming changes to IHT on pensions
Employers are getting a heads-up to prepare staff for a big Inheritance Tax (IHT) shift. WEALTH at work warns that from April 2027, unused pensions will join the IHT estate, facing a potential 40% tax. This change flips old advice upside down, suggesting it might be better to spend pensions first. Employers are now urged to offer financial education, as this new “tax trap” is causing a stir.
Government gears up for CDC scheme expansion
The DWP is gearing up to expand Collective Defined Contribution (CDC) schemes, promising a potential 60% boost to retirement incomes. Pensions Minister Torsten Bell announced new regulations allowing employers to pool funds, building on the Royal Mail’s pioneer scheme. Industry experts see this as “good news” for employers wanting fixed costs, though others caution that innovation in the current DC space might be simpler.
Why DFMs are rethinking the traditional MPS model
Consumer Duty and painful CGT changes are forcing DFMs to rethink the traditional MPS model. PortfolioMetrix is promoting its “Efficient MPS” to sidestep new tax headaches. Instead of individual funds, it uses multi-asset funds as building blocks, moving trading inside the CGT-exempt wrapper. This “operational alpha” also offers simpler fees and consistency, saving clients an estimated 39 basis points.
