Hello. We have now crossed the threshold into October and Autumn good and proper.
Naturally this means the roadworks going on around the office (supposed to finish in *late* summer) do not look at all close to completion, and getting here remains a constantly changing obstacle course.
Anyway, there has been some Budget stuff of late, but with the Labour conference it has been more subdued: less, “don’t do anything ’til we know everything” versus “DO EVERYTHING NOW, THEY’RE COMING FOR ALL YOUR LOVELY MONEY”.
Any eyes on Rachel Reeves’ somewhat general speech would have been missing much detail but would have caught a lot about “securonomics”. If there’s anything to be despised in the modern age it’s the propensity of shoving words into each other into one non word. The two actual words would have expressed the same without making me want to scream obscenities into a dictionary. See also “finfluencer”.
Where was I? Ah yes, news, serious things, probably something about money. In this week’s edition there’s targeted support, crypto, image problems, more English people eating in gentrified Scottish cafes, Taylor Swift, the IFA manifesto and Gary Lineker.
Bur first, HomeGame 5.
Happy reading:
HOMEGAME 5
Advisers told to ‘shake off’ stereotypes to bring in next generation
Johnston Carmichael Wealth chartered financial planner Martin Hendry said advisers face stiff competition from other professions.
Source: Professional Adviser
‘You don’t have to be an extreme extrovert to be a good planner’ – FTAdviser
Just being good at maths does not mean you will be a good financial planner, according to Stephen Straker, IFA at Continuum.
Source: FT Adviser
Advisers urged to tackle leadership diversity as ‘women not progressing’
Equate Scotland director Dilraj Sokhi Watson said too much focus has been placed on recruitment drives, when the real issue lies in progression. “The financial advice career isn’t diverse at all because if you look at everyone who is making decisions, it is men.”
Source: Professional Adviser
‘Young advisers should stop emailing and pick up the phone’
Adrian Murphy wants to see trainees on his graduate schemes talking to clients and building relationships, rather than sending emails.
Source: Citywire NMA
‘Adviser’s must see themselves as business owners first to attract talent’ – FTAdviser
Those in the profession must look at themselves more as business owners than advisers in order to recruit, according to The Financial Planning Club’s Lewis Byford.
Source: FT Adviser
LANG CAT & CLIENT MENTIONS
“We want you as a new recruit”
Mark P makes the call for younger folk in financial services.
Source: The Scotsman
Will technology ever replace advice? – FTAdviser
Saturn launches a video campaign highlighting the humans behind the advice. Emmelia Powell, IFA at Premier Wealth Solutions stars in the first video.
Source: FT Adviser
The professional revolution: Control your own destiny, advisers, or someone else will
Nick Ryan of Pilot talks advicetech built for and by advisers.
Source: Professional Adviser
Origo talks pension transfers on IFA Magazine’s podcast.
Source: IFA Magazine
ADVISERS
FSCS finds valid claims against collapsed IFA that borrowed £1m from clients
That wasn’t very Consumer Dutery of them.
Source: Citywire WM
Where are the ‘Gary Linekers’ in financial services? – FTAdviser
Rose St Louis, protection director at Scottish Widows, said she would really like to see more prominent male allies in financial services advocating to get more women into the industry.
Source: FT Adviser
Advisers report a surge in IHT enquiries ahead of the Budget
According to new research by Downing.
Source: Money Marketing
PLATFORMS
JPMorgan to launch DIY platform in UK retail investment push
The platform will be available on Chase and will replace Nutmeg.
Source: Money Marketing
INVESTING & WEALTH MANAGERS
Secret Boutique Founder: Lifting the lid on setting up your own firm
Citywire embarks on an article series where an unnamed boutique founder will “unravel the journey behind starting an investment firm from scratch”.
Source: Citywire WM
Fund manager identity crisis must be tackled in industry battle against scams
Katrina Lloyd discusses what to do with fund managers’ long-term but recently magnified image problem.
Source: Investment Week
Retail investors withdraw £1.8bn from funds in August – Money Age
Interesting.
Source: Money Age
HSBC UK launches wealth academy – FTAdviser
The academy is to offer educational resources, best practice and academic accreditations.
Source: FT Adviser
UK to remove stamp duty from newly listed shares – reports
Treasury’s latest move to get folk investing in UK equity and encourage London listings.
Source: Investment Week
REGULATION & POLICY
Wall Street regulator vows light touch and end to quarterly reporting
Aye, can’t see how that’d get abused at all.
Source: FT
Regulators urged to improve policy communications to advice sector – Money Age
Trade body PIMFA has called on policymakers to provide greater “clarity, consistency and proportionality” in their communications to the financial advice sector.
Source: Money Age
Platforms mulling crypto offerings ahead of the FCA opening retail access
UK investment platforms are split over whether they intend to offer crypto exchange traded notes.
Source: Investment Week
FCA exclusive: Advisers, don’t fear the FOS
Sophie Downes speaks to Nike Trost and Sara Woodroffe about how the FCA is addressing the industry’s concerns around the introduction of targeted support.
Source: Citywire WM
AI
JPMorgan Chase blueprint to become first fully AI-powered megabank
Hmm. Sounds like the sorta news that should be accompanied with MUH HA HA HA.
Source: CNBC
PENSIONS & RETIREMENT
Rathbones warns pension tax fears driving premature withdrawals
Here we go again.
Source: Money Marketing
Alexander Anderson: The hustle behind Gen Z’s future | Money Marketing
Interesting points about how to engage the younger generation in legacy planning, concerning tie knots.
Source: Money Marketing
TRADE & ECONOMY
Rachel Reeves to lift two-child benefit cap in November budget | Child benefits | The Guardian
The Chancellor reportedly plans to lift the two-child benefit limit in the Budget with officials exploring options of a tapered system instead.
Source: The Guardian
George Osborne: City ‘has lost sympathy with this Labour government’
Ah yes, because when he was in charge everything was so rosy. To be fair the City probably liked it.
Source: Investment Week
Morgan Stanley reckons the best way to raise taxes is not to raise the taxes that affect them, but in fact to raise the taxes that affect other people.
Source: The Guardian
OUTSIDE THE TRADE
On Sunday 5 October Newhaven hosted Tattie Fest, described as “celebrating the potatoes (and other veg) from our community garden. You can eat potatoes, while doing art with potatoes, playing games with potatoes and learning science with potatoes!”
Source: The Edinburgh Minute
Gentrified Scottish culture finds home in Edinburgh
Auld Hag – a Scottish themed cafe in London – thought not enough English people were cosplaying working class Scots with their well fired rolls and square. It was decided then to open a Shoap in Stockbridge, Edinburgh. Jokes, but it is mostly true.
Source: The Edinburgh Minute
Yikes.
Source: The Guardian
Sean McKinven is PR account executive at the lang cat
