Capitalism: hah, hooh, good god y’all, what is it good for? Absolutely nothing. Or something like that.
The musically inclined among you may have noticed that was a slight deviation from Edwin Starr’s ‘War’.
The even more musically inclined among you may be aware that Edwin Starr’s lesser-known tracks made up some of the most popular records of the Northern Soul scene. In the late seventies, kids in Lancashire, Merseyside and Yorkshire would host all-nighters, dancing uniquely to fast-paced obscure American soul that for some reason ended up being rife in the north-west of England.
What I find interesting is it’s one of the first original UK music scenes with its own fashion, identity and codes that revolved around music played by a DJ. It has also had a huge imprint on the development of other aspects of UK music culture ever since. Dexys Midnight Runners, Soft Cell, Paul Weller through the Jam and latterly The Style Council are all bands which respond to it in their own way.
So, to transition back to our world. Hargreaves Lansdown is arguably the UK investment world’s Northern Soul.
Clearly, it has outlasted Northern Soul in a pure time sense. But it is a business that came along at the right moment, and has influenced its specific market ever since. Because this is capitalism and not lovely music, those influences are more seen as driving competition.
Mark P covered HL’s latest fee cut with authority in last week’s TCWU. For what it’s worth, I just think it’s interesting when something with a stalwart identity begins to shift a bit. What is to follow?
The News:
LANG CAT & CLIENT MENTIONS
Winners and losers of Hargreaves’ fee overhaul – Investors’ Chronicle
Chris’ comments included here.
Source: Investors’ Chronicle
Scaling advisory businesses: ‘It won’t be for everyone’
Mark P hosting a panel at Fundment’s Adviser Edge event.
Source: Professional Adviser
FCA review: AI presents ‘major opportunity’ to improve outcomes under Consumer Duty
Mike pops up in this one.
Source: Professional Adviser
‘Financial planning’s image problem is rooted in visibility’ – FTAdviser
New blood and visibility discussed by Morningstar Wealth’s Ben Lester.
Source: FT Adviser
Behind the Headlines: Cold European mornings but warmer regulatory ties | Money Marketing
Alison pens this article on the emerging relationship between UK and EU regulators.
Source: Money Marketing
7IM’s Ben Kumar: The psychology of selling
A look at, well, selling.
Soruce: Investment Week
Andrew Tully: Why cash ISA reform plans could do more harm than good
Nucleus’ Andrew Tully questions if the plans will have the desired outcome.
Source: Professional Adviser
Saturn tops list of adviser AI systems – FTAdviser
Well done to Saturn.
Source: FT Adviser
Matt Storey: The Platform Borg II – Your research universe matters | Money Marketing
Matt Storey of @sipp man writes an engaging polemic.
Source: Money Marketing
ADVISERS
Ahmed Bawa: The changes advisers are asking for in 2026
Top of the wishlist for the Rosemount Financial Solutions chief exec: providers being more consistent, pension schemes providing certain information during transfers, platforms improving functionality over creating workarounds and improved communication.
Source: Professional Adviser
IFAs prioritise client growth despite year of change | Money Marketing
A poll of ValidPath member firms found that 93% of IFAs are optimistic about the year ahead, including 27% who described themselves as extremely optimistic.
Source: Money Marketing
Advisers urge ‘stay the course’ as Doomsday Clock ticks closer to midnight – FTAdviser
Christ almighty.
Source: FT Adviser
12 limiting beliefs that damage advisers’ marketing – Phil Bray
The Yardstick Agency director Phil Bray outlines the major barriers to good marketing strategies and how advice firms can fix them.
Source: Citywire NMA
Anna Plotnek: What the Beckham saga teaches us about wealth | Money Marketing
An adroit look into implications for intergenerational wealth for advice firms through the Beckham family saga.
Source: Money Marketing
INVESTING & WEALTH MANAGERS
Fisher Investments UK: Why the TV ads don’t tell the whole story
Nice bit of journalism.
Source: Citywire NMA
REGULATION & POLICY
FCA: ‘our gateway must not be a barrier to growth’ – FTAdviser
The FCA compares itself to airport security.
Source: FT Adviser
Exclusive: Lifetime ISA replacement to drop retirement option and exit fees
Major LISA shake-up.
Source: Citywire NMA
AI
Advisers’ appetite for AI drives 150% surge in tech research
Financial advisers showed unprecedented interest in new technology in 2025, with traffic to adviser software reviews surging 150% as AI tools rapidly moved into the mainstream.
Source: Money Marketing
PlannerPal launches AI pre-meeting pack for advisers – FTAdviser
Lots of adviser AI stuff last week.
Source: FT Adviser
PENSIONS & RETIREMENT
Ministers reject Waspi calls for compensation after rethink – BBC News
Women affected by changes to the state pension age have reacted with fury after ministers again rejected their claim for compensation.
Source: BBC News
PDP consults on updated dashboard reporting standards
The Pensions Dashboards Programme has launched a consultation on proposals to update the dashboard reporting standards.
Source: Professional Pensions
CRAZY CAT STORIES
Source: Daily Mail Online
OUTSIDE THE TRADE
Driverless taxis set to launch in UK as soon as September – BBC News
I predict a black cab strike.
Source: BBC News
Why Brits Are So Obsessed With Owning Houses
An interesting and long history apparently.
Source: Amber Callender Substack
Intriguing.
Source: The Guardian
Signing the office birthday card
The Economist with a satirical card writing ceremony which is very amusing.
Source: The Economist
Sean McKinven is PR account executive at the lang cat
