Hello.
While I was off last week, I failed to see War Songs as recommended by the boss, Mark P. The rains arrived in biblical fashion in Edinburgh the night before the performance I had tickets for, and that can pose issues for the old town plumbing system. I was in the land of my ancestors – or Glasga as it is known – at the time, not realising I was being set up for two disappointments as Celtic put in a suspiciously good performance at home.
I would have to wait six days for Celtic’s undoing, but that Thursday morning after the Rains was quite a nice one. When coming down the Cowgate I saw two people with big brooms sweeping surface water out the door of Subway Social, the venue for proceedings. Suffice to say, I wasn’t totally shocked to receive the cancellation email.
I did though end up seeing Woody Sez. Twenty and one hundred minutes of a man, with some pretty impressive accompaniment narrating and singing the tale of Woody Guthrie. It was brilliant, it tours I believe; you should see it.
Woodrow was an intriguing person of his time. Overtly political, of limited success in his time but went on to have a major impact. He died in 1967 at 55 from complications to do with Huntington’s disease.
That same year, a 21-year-old Dolly Parton would have just embarked on what would turn out to be a career spanning more than six decades.
Dolly was an intriguing person of and ahead of her time. When she died, I was surprised how many people hadn’t seen this clip of her playing guitar with monster acrylics*. It was, as I see it, pure Dolly. Not only did she do it with a ridiculous level of substance, but also with a quiet power that directly challenges the assumption you either have acrylic nails or you can play guitar.
This goes to show – despite how effortless she made it look – it was anything but easy. Therein lies the brilliance that was Dolly Parton. The core philosophy she represented is aspirational to many and is ostensibly her authenticity. But behind the rhinestones was the consistent graft that brought it about.
Possibility and aspiration can be powerful, but you have to put in the work. At the same time, support is key. Dolly was independent, but she was not alone and part of her canniness appears to have been how she was duly selective of partners and collaborators.
There are life lessons from how Dolly carried herself in all her endeavours. She took the support on offer, and her hard work (and talent) were rewarded.
In our world, this makes me think of recruitment. There are more and more graduates, and yet only a certain number of jobs available.
I think the financial services sector should be introspective about the sort of candidates it is appealing to if it can’t sell roles that with a few years of hard work can lead to some pretty solid earnings. It should also be mindful over the support, culture and routes of access that means it is potentially denying or putting off quality candidates. Or maybe AI will take over tomorrow and we’ll all be taking turns washing the dishes.
*I think they are acrylics but must admit I am no expert. I could possibly identify a French tip, and through my younger brother I am familiar with classical guitarist nails, but that’s about it.
The News:
LANG CAT & CLIENT MENTIONS
Ben Lester: Is MPS helping you scale, or just hindering growth?
Our research with Morningstar Wealth mentioned.
Source: Money Marketing
Is the latest FCA Sipp consultation a game of two halves?
@SIPP’s Lee Halpin offers his thoughts on the SIPP consultation.
Source: FT Adviser
Peter Wasko: The state of investing at the moment
Copia Capital’s senior portfolio manager on why markets are questioning the AI narrative.
Source: Money Marketing
Guardian reduces underwriting times to less than one day
It has also increased its instant decisions.
Source: FT Adviser
PortfolioMetrix’s Wellington: The lesson in gold of 46 years ago is repeating itself
A look at what’s going on with gold.
Source: Portfolio Adviser
What does successful multi-asset fund due diligence look like for advisers in 2026?
Steve offers some of his thoughts in this one.
Source: Wealth DFM
Advisers will use agentic AI, but do not want it touching client money
Some research from GBST and the lang cat.
Source: FT Adviser
How to become an expert at selling stocks
7IM’s Ben Kumar in The Times.
Source: The Times
ADVISERS
I invested my Post Office compensation — then lost £15k
Sub-postmaster was awarded over £600k in compensation and invested £15k in a property investment group recommended by his estate agent. Would be interesting to know if he knew advice was available and if so, why he didn’t seek it out.
Source: The Times
‘A document library you cannot query while advising is just a warehouse’
Often thought but never said.
Source: FT Adviser
Exclusive: Fraudsters are trying to buy your firm, FCA warns advisers
Source: Citywire NMA
Half of IFA firms earn 2% or less on cash reserves
Source: Money Marketing
How one adviser meets clients in unexpected places
Source: FT Adviser
PLATFORMS
Platform acquisitions are dead, CEOs say
There may still be caves for millennia in which platform acquisitions’ shadow is displayed.
Source: Citywire NMA
PROTECTION
Nick Green: Why protection needs underwriting at the front door
Criterion on pre-sale underwriting.
Source: Money Marketing
INVESTMENT & WEALTH MANAGERS
Largest 10 wealth managers grow share of discretionary clients to 89% as assets fall
According to data from the FCA.
Source: FT Adviser
Are VCTs still ‘the next best thing’ for clients?
A forensic look at venture capital trusts.
Source: Professional Adviser
How to profit from the world’s growing cyber threats
There was me thinking too much thought was going into how to fix the problem.
Source: Investors’ Chronicle
69% of advisers expect use of smoothed funds to rise
Adviser and investment crossover episode.
Source: FT Adviser
AI
Licence to advise: Ensuring AI agents are designed for human clients
“Behavioural science needs to sit at the centre of how agentic AI is designed for financial advice.”
Source: Professional Adviser
REGULATION & POLICY
Regulator ‘looking closely’ at role of banks in loan note scandal
The FCA warned it would “act where firms have fallen short”.
Source: The Times
Fos tells Trading 212 to pay compensation to 3 disgruntled investors
But they have low fees – surely that’s all that matters? <stares at nearest finfluencer>
Source: FT Adviser
FCA should lower the threshold for penalties to catch smaller firms, advisers have said
Source: FT Adviser
HMRC targets crypto millionaires over tax owed
Source: FT Adviser
Ever-changing regulation heaps pressure on smaller advisers
A rarely out of place headline.
Source: FT Adviser
HMRC tax receipts hit £322.7bn as advisers warn of IHT and CGT traps
John Rawls liked that.
Source: Money Marketing
FCA wealth head: £1tn sector can grow and get more people investing
Sara Woodroffe sees wealth management as part of the answer.
Source: Citywire WM
PENSIONS & RETIREMENT
Fall in pensioner poverty ‘gone into reverse’, LCP finds
Source: FT Adviser
Standard Life forms pension buyout arm with private markets giants
The provider is looking to boost its pension risk transfer business for DB schemes and private markets feature.
Source: Citywire NMA
TRADE & ECONOMY
New UK cost of living crisis looms with soaring energy bills forecast to lift inflation
Oh good.
Source: The Guardian
Andy Burnham: I won’t be unrealistic about tax rises
I am sensing some op-eds inbound.
Source: The Times
Gazundering on the rise as opportunistic buyers exploit tough property market
Amusing name, not always an amusing outcome. A look at the trend and outlining sellers’ rights.
Source: The i
Healey to shelve his own defence spending target of 3% of GDP by 2030
Should imagine Rachel Reeves and Keir Starmer raised an eyebrow at this.
Source: FT
CRAZY CAT STORIES
Silly season definitely here.
Source Battersea Dogs & Cats Home
OUTSIDE THE TRADE
Carlsberg buoyed by alcohol-free beer and soft drinks
Axe McEwan’s Export – deal with the consequences.
Source: FT
Architect reimagines Edinburgh’s empty Victoria Quay
The lang cat could be in for some new neighbours.
Source: The Herald
like an eagle I am eager for the sky
Out of a lot that was very interesting, this is the most interesting thing on Dolly I have read this week.
Source: BDM
Sean McKinven is PR account executive at the lang cat
