Hello. Scotland is ever closer to its first world cup since I was born.
Romantic notions over romantic football last week, but we play the hands we’re dealt. If we do qualify, expect Steve, Ian and I to launch a fundraiser to send the lang cat Tartan Army to the finals – only an average of $3800 a ticket according to Mr. Anderson’s market research. BARGAIN.
A nice mixed news edition that’s not too Budget heavy; there’s even tales of finding Michael Gove in an Aberdonian pub, related to a story (kind of) about cats in backpacks.
Happy reading:
LANG CAT & CLIENT MENTIONS
Can JP Morgan take on the investment platform heavyweights? – Investors’ Chronicle
The esteemed Mike Barrett gives his thoughts on Nutmeg and JP Morgan’s venture into D2C.
Source: Investors’ Chronicle
Verve | News: New blood: the best investment for our industry
Nice write up and reflection of HomeGame 5 from Verve CEO and panel speaker Cathi Harrison.
Source: Verve
SmartSearch announces integration with Iress – Money Age
The digital anti-money laundering (AML) and compliance solutions provider said the collaboration marks a step forward for advice firms and their clients.
Source: Money Age
Wealthtime adds three senior hires to drive growth
Michael Milner joins as head of proposition, Rod McClair-Burgess as oversight director and Kylie Clark as client experience director.
Source: Money Marketing
Transact launches contributions app in latest intelliflo tie-up
Transact is launching an app that will link up to back-office software provider intelliflo to help advisers manage their clients’ contributions and withdrawals.
Source: Citywire NMA
Regulation, consolidation and the future of the adviser nation
“All that to say, the advice profession is a resilient one. Regulation and government policy can feel heavy at times, but the energy that is going into attracting fresh talent and keeping clients at the heart of the conversation shows that this is an industry with real staying power.”
Source: Professional Adviser
ADVISERS
Nicola Ellis scoops CFP Planner of the Year award
Congratulations to star of HomeGame 5 Nicola Ellis. Seems a fitting award for someone who managed to conduct a planning session live, with no prior knowledge of the ‘client’ and for a full IMAX of advice professionals and those new to advice.
Source: Financial Planning Today
Why advisers should volunteer to help tackle problem debt
Steve Webb wonders if advisers could do some good work and help people with debt. I think what Webb touches on is an investment of the reputation of the profession because, as our advice gap research shows, trust in advisers is a significant barrier to entry for some.
Source: Money Marketing
The advice business: Jo Wall on bridging the gap between coaching and advice
On the above, Jo does a great job and shows it can be part of the business as well.
Source: Professional Adviser
Due diligence works best when the data is clean and ready to show – FTAdviser
In other news, firefighters report putting out flames works best when they use protective gear and have ready access to a hose. In all seriousness,important points made about some firms’ casual approaches to M&A due diligence potentially impacting vulnerable clients.
Source: FT Adviser
Standard Life unveils ‘affordable’ pensions advice service | Money Marketing
Will be available to those 54 years and nine months old, having accrued £50,000 in their DC pension pot.
Source: Money Marketing
Targeted support – the missing piece in the UK’s pensions puzzle
“If auto-enrolment was the solution to the chronic under-saving problem, then targeted support has the potential to solve the chronic under-engagement problem,” writes Robert Holford.
Source: Money Marketing
Digital advice channels open door to more under 40s
A Dynamic Planner study found that engagement and investment in digital channels was more likely to encourage people under 40 to get advice. Advisers under 35 were more likely to be offering this, highlighting an important role that young advisers could play in terms of addressing the advice gap. Kinda smells like HomeGame 5; maybe even a bit of New Blood perhaps.
Source: Professional Adviser
INVESTING AND WEALTH MANAGERS
BoE’s Bailey: Private assets must be assessed ‘with rigour’
Lots of due diligence to be implemented as people explore new asset classes and investment opportunities, warns the BoE governor.
Source: Investment Week
Targeted support could spark Lloyds £3bn bid for Quilter, says broker
RBC Capital markets reckon that targeted support may be an opportunity for banks to increase their market share in wealth management.
Source: Citywire WM
Peter Hargreaves to step down from HL board after less than six months
After helping them through acquisition, the founder steps back from the board. I found his Lunch with the FT quite entertaining.
Source: Investment Week; FT
REGULATION & POLICY
FCA exclusive: Why the watchdog lifted its crypto ban
FCA outlines its position on crypto on Citywire’s podcast. Don’t know if anyone else is surprised that 12% of the UK adult population owns crypto.
Source: Citywire WM
PIMFA, TISA raise concerns over Ombudsman reforms
PIMFA has warned further clarity is needed in areas where the ombudsman must exercise judgement to maintain industry confidence.
Source: Money Marketing
Let me hear you say P P I.
Source: The Guardian
Views sought on Bill to recognise digital assets as property – Business Insider
Consultations on viewing digital assets in the same way as property in Scots law. If it surprised me about the proportion of UK adults holding crypto, it surprised me to learn 10% of Scots hold crypto.
Source: Business Insider.
More than half of Brits want IHT abolished
John Rawles didn’t like that.
Source: Professional Adviser
AJ Bell launches petition to protect tax-free cash – FT Adviser
AJ Bell launches a petition to make its life easier. As Mark P pointed out in his Update last week, it doesn’t necessarily make them wrong.
Source: FT Adviser
AI
‘Future of investing is low cost and app-based’ – FT Adviser
Says CEO of new AI investment app Stratiphy. To be fair, definitely likely to see things moving in that direction. Target support invariably earning a mention.
Source: FT Adviser
PENSIONS & RETIREMENT
Retirement ‘expectation gap’ widens as cost of living bites
Excellent. I might be about 76 when I get to retire.
Source: Money Marketing
Pensions Dashboards forecast to fuel boom in activity
More than one in three pension schemes believe the arrival of the Pensions Dashboards, due next year, will spur a 30%-50% increase in member activity, according to a survey from Willis Towers Watson.
Source: Financial Planning Today
Deleting records could impact state pension errors fix – FTAdviser
In recent years, multiple errors in state pension payments have been admitted by the Department for Work and Pensions, and in some cases the people affected died before things could be put right.
Source: FT Adviser
British pension provider plots £1bn launch of new look ‘superfund’
TPT Retirement Solutions, a mid-sized provider that manages £11.1bn of pension assets, says it has secured funding to launch a DB scheme consolidator, or superfund, to complete £1bn of transactions.
Source: FT
Families use children’s pensions to cut inheritance tax bills
Pension contributions for under-18s rose to £79.6m in 2022/23, up from £75.9m the year before, according to Lubbock Fine Wealth Management.
Source: Money Marketing
TRADE & ECONOMY
‘Unemployment insurance’ benefit could save £3bn a year, says IFS – FT Adviser
The government has proposed to introduce an unemployment insurance to replace the two current contributory out-of-work benefits.
Source: FT Adviser
UK ministers aim to speed up homebuying by four weeks | Property | The Guardian
Labour wants to streamline the process.
Source: The Guardian
CRAZY CAT STORIES
Don’t take your cat on the Tube, pet charity warns after ‘disturbing’ video goes viral
I have seen a cat backpack but once in my life (ferrets in backpacks on more than one occasion) and it remains far from the oddest thing I have seen in an Aberdonian pub. Michaeel Gove certainly clears it, the first occasion of which was right before this infamous incident.
The second time my friend Dave Bowie (yup) questioned him on Brexit. Gove played it pretty canny, but it was entertaining to watch his card being declined and him sneaking round into the alley so no one could see him smoking.
Source: The Independent; The Mirror
OUTSIDE THE TRADE
Global renewable energy generation surpasses coal for first time | Renewable energy | The Guardian
Report finds record solar expansion and steady wind growth are driving world’s shift away from fossil fuels in 2025.
Source: The Guardian
Dead Poets Society Lied To You – by shyam – The Third Eye
Nice to find someone who agrees with your hot take. The Aesthetic is anything but frivolous privileged floundering and it should not be allowed to be seen as such. Building on it, you can read into why Carpe Diem is so often misrepresented as an existential imperative (an equivalent to YOLO in layman’s terms) in Nick Riggle.
Source: Shyam Substack; TLS
Shares leap in UK pubs giant Marston’s amid ‘step change’ | The Herald
It might not be made in Fountainbridge anymore, but it looks as though McEwans beers are in good hands.
Source: The Herald
Pubs to stay open until early hours in push for UK growth | Hospitality industry | The Guardian
Hah yeah, UK, England and Wales. They’ll still be kicking me out of Robbie’s on a Saturday at 12.
Source: The Guardian
Sean McKinven is PR account executive at the lang cat
