Money Marketing’s Weekly Must-Reads: Top 10 Stories
This week, tech disruption and industry warnings battled for our readers’ attention. Ian McKenna’s bold claim that ‘the research is wrong – AI is replacing advice roles’ sparked debate, while Rathbones’ stark warning that a ‘pension tax relief cut would risk loss of £50bn’ also hit a nerve.
Both stories were among our most-clicked articles. Here’s the full rundown of our top ten:
Pension tax relief cut would risk loss of £50bn: Rathbones
Rathbones is waving a big red flag over pension reform. Ahead of the Budget, they warn that cutting tax relief — like moving to a flat rate — could see £50bn vanish from pension funds in five years.
This move, they argue, would not only hurt retirement pots for millions but also starve UK businesses of crucial investment. Their advice? Prioritise stability and keep the investment engine running before making any rash changes.
The research is wrong – AI is replacing advice roles
Forget what you’ve heard. Ian McKenna states that AI isn’t just coming — it’s already replacing advice roles. He argues that research claiming AI is ineffective is simply “wrong”, pointing to advisers who have already swapped paraplanning teams for AI.
He believes firms that get lean with AI will be far more valuable, urging everyone to get an AI strategy, sharpish.
‘We’re building the best AI-ready platform for advisers’
Transact isn’t building its own AI; it’s building the perfect stage for it. CEO Tom Dunbar says the platform is on a mission to create the UK’s best AI-ready ecosystem for advisers.
The strategy hinges on integration, not proprietary tools, allowing advisers to plug in their own AI. By ensuring data flows seamlessly between systems like Curo and Microsoft Copilot, Transact aims to banish admin and make financial planning easier.
Clients cutting pension contributions to invest in IHT solutions
The pension pot’s halo is slipping, thanks to IHT changes. Research from Downing shows advisers are seeing a major shift.
Nearly half of respondents say clients are reducing pension contributions to invest in IHT solutions ahead of the 2027 rule change. Many are also taking money out or hiking withdrawals.
This has “fundamentally reshaped” estate planning, forcing advisers and clients to rethink their strategies completely.
Looking Ahead: Expect fireworks at the Budget
Money Marketing has its eye on 26th November, not the 5th. News editor Dan Cooper predicts fireworks from chancellor Rachel Reeves’s “explosive” Budget, where rumours of pension raids and IHT changes are flying. The MM team is poised for live coverage.
This month’s issue also looks at global advisers, the contactless spending cap and warmly welcomes back editor Tom Browne from paternity leave, sleepless or not.
FCA issues guidance for firms offering crypto ETNs
Thinking of offering crypto ETNs to retail clients? Not so fast, says the FCA. The regulator has issued guidance, classing them as ‘Restricted Mass Market Investments’. This means firms face a compliance checklist: robust appropriateness tests, clear risk warnings and no incentives.
Firms must also inform their FCA supervisor and ensure they meet the Consumer Duty. In short, they’re complex, so get your ducks in a row first.
When AI meets advice – innovation or compliance minefield?
Momodou Musa Touray’s Big Picture asks: is AI innovation or a compliance minefield?
Advisers are already using AI, with some slashing admin time by 80%. This frees them up for the human part: empathy and judgment. But it raises data security risks and Consumer Duty questions (are savings passed on?).
The FCA is watching, but for now, the adviser is the pilot, AI is just the co-pilot.
Hoxton Wealth acquires Manchester-based IFA
Hoxton Wealth is planting a new flag in the North West, snapping up Manchester’s Haven IFA. The deal adds a handy £140m in assets and is “strategically important” for its regional growth.
Hoxton praises Haven’s client-first values and strong alignment. While two Haven advisers retire, two others and the admin team are joining the Hoxton family, ensuring a smooth transition and continuity for local clients.
Fidelity finds 74% of adults over 50 unprepared for retirement
Living to 100 sounds great, but it’s causing a retirement panic.
New research from Fidelity finds 74% of over-50s are unprepared for a 100-year life. In fact, 35% are facing a savings shortfall of at least a decade. People are simply planning for retirements of the past.
Experts warn that as we live longer, policies must adapt. Otherwise, a long life becomes something to fear, not enjoy.
Charles Stanley selects SS&C Hubwise for its MPS ranges
Charles Stanley and SS&C Hubwise are teaming up. In a move driven by strong adviser demand, Charles Stanley’s full MPS suite is now available on the Hubwise platform, also accessible via intelliflo’s wealthlink.
Both firms are “excited”, highlighting that the integration will reduce admin burdens and drive efficiencies. It’s a new chapter that will help IFAs deliver excellent client outcomes.
