Hello.
The Scotland national team is going to the World Cup.
Out of nowhere, Scotland beat Denmark at Hampden Park, qualifying for their first World Cup since 1998. You’ll have all seen it by now, and as the lang cat Tartan Army huddled round Steve’s computer to watch the play-off draw, we quickly decided that bullets had been very much dodged.
In the midst of this, on X (never usually a place for inspiration these days) I was reminded of the role of the sports journalist.
One thing that impresses me about on the ground sports reporters is the camaraderie. Pre- and post-match interviews can be a lot longer than you think, so it is standard practice for the journos from different publications to transcribe different parts and bring it all together to get a full transcript. Particularly for print or digital, every moment counts when up against the immediacy of broadcast.
There’s probably a nice bit of synchronicity there – something about hard work and teamwork and all that. Competitiveness can sometimes be viewed as inherently adversarial, but sometimes respect for one’s opponents is vital. Competing isn’t always about beating people, it can be about digging in and working with peers ensure you get the best out of yourself and other.
I am not saying work across everything all the time, but sometimes shared goals can be achieved with a bit of collective work. I think this is something that can be easily forgotten, both in competitive sport and competitive industry.
The News:
LANG CAT & CLIENT MENTIONS
The best Isas and pensions for investment trusts – Investors’ Chronicle
Oor Chris Bredin quoted in this one.
Source: Investors’ Chronicle
Advisers shed 335,000 ongoing clients in consumer duty cull – FCA data
Mike shares his thoughts on his most wonderful (regulatory data-driven) day of the year.
Source: Citywire NMA
Advisers report more clients needing CGT advice after slashed thresholds
Research we carried with FSL.
Source: Professional Adviser
Clients value fairness and quality over cost, says report | Money Marketing
Coverage of Royal London’s Meaning of Value report.
Source: Money Marketing
‘We’re telling clients to book flights!’ Scottish IFAs’ World Cup jubilation
The lang cat Tartan Army’s first press outing through official spokesman Steve Nelson.
Source: Citywire NMA
Balancing technology, trust and empathy in advice – FTAdviser
Mark Locke appears in print once again.
Source: FT Adviser
How is tech changing platform asset migration?
Origo chief product office Tom Mullaly talks tech and asset migration.
Source: Professional Adviser
Shifting pension rules ‘eroding trust’ and ‘hindering’ retirement confidence
Andrew Tully talks to PA about the Retirement Confidence Index.
Source: Professional Adviser
Trusts deserve a fresh look in estate planning, says Andy Zanelli, Aberdeen Adviser – IFA Magazine
With all this talk of IHT, Zanelli provides a refresher on estate planning.
Source: IFA Magazine
British Business Bank confirms pension investors in £200m first fund | News | Pensions Expert
NatWest Cushon, Aegon and M&G have confirmed their cornerstone investments for the British Growth Partnership, a new initiative targeting investment in high growth UK companies.
Source: Pensions Expert
The FOMO-fuelled run on the pensions bank – where the Treasury is the only winner
A frightening number of ordinary savers are making one of the single biggest financial decisions of their lives – withdrawal of tax-free cash – largely on impulse, writes Matt Storey of @sipp.
Source: Professional Adviser
ADVISERS
Why Saltus-Lowes takeover is ‘talk of the town’ in Newcastle
Great read. One comment rightly points out the missed opportunity for a ‘talk of the toon’ headline.
Source Citywire NMA
INVESTING & WEALTH MANAGERS
Oracle’s astonishing $300bn OpenAI deal is now valued at minus $74bn
Christ.
Source: FT
Excellent read on gamified trading, Dubai chocolate and tulips.
Source: FT
I’d be a million pounds richer if I hadn’t sold my bitcoin
That’s an intriguing headline to be publishing on a day that the FT reports Crypto market sheds $1.2tn as traders shun speculative assets
Source: The Times; FT
REGULATION & POLICY
Pre-Budget panic has ‘got worse’ with the current government
Autumn Budget has become worse since the current government came into power, according to behavioural expert James Woodfall.
Source: Professional Adviser
FCA weighs giving providers flexibility over ‘targeted support’ name
Regulator weighing up concerns that ‘targeted support’ as a label may be off-putting for consumers.
Source: Citywire NMA
Given the amount of armchair chancellors, it’ll be interesting to see how folk get on.
Source: The Guardian
The FT Weekend Magazine profiles the chancellor ahead of the Budget.
Source: FT
Not sure it needs to be scrapped but there have been suggestions across the political spectrum that the nature of the forecasts encourages tinkering over strategy.
Source: The Guardian
Treasury planning tax rise on online sports gambling — but not horse racing
Horse racing to be exempt from rises.
Source: FT
AI
The hole lurking in big tech’s trillion-dollar AI blitz
Nvidia struggling to give away old chips as soon as new ones come out.
Source: The Telegraph
OpenAI strikes deal with Intuit to plug personal financial data into ChatGPT
Hmm.
Source: FT
PENSIONS & RETIREMENT
Pension Lab hands over reins of Fix LoA Action Group – FTAdviser
The group was founded in 2024 by Pension Lab to champion the need for an improved Letter of Authority process.
Source: FT Adviser
Three in five IFAs reporting client pension lump sum withdrawals – Money Age
Around three in five (58%) IFAs are reporting that clients have made withdrawals from pension lump sums due to speculation about pension tax relief ahead of the Budget.
Source: Money Age
Pensions secretary warns not to assume Waspi compensation – FTAdviser
Whether or not you believe the women are entitled to compensation, perhaps the will-they-won’t-they is unhelpful.
Source: FT Adviser
Career breaks and menopause leave £113k gap in women’s pensions – FTAdviser
Scottish Widows’ latest Women and Retirement Report voices concerns a third of women are heading towards poverty in retirement.
Source: FT Adviser
TRADE & ECONOMY
“Not only was the scheme successful for the 2,000 artists… the Irish government’s cost-benefit analysis for 2021-25 found that the scheme produced more than €100m (£88.1m) in socio-economic benefits, with every €1 (88p) invested in the pilot returning €1.39 (£1.22) in value to the Irish economy and …. decreased dependence on other forms of social welfare, with these artists receiving, on average, €100 (£88.10) less a month from welfare.” Interesting
Source: Novara Media
Why Poundland is struggling during a cost-of-living-crisis – BBC News
Also interesting.
Source: BBC News
UK borrowing outstrips expectations and retail sales dive ahead of Budget
Going to be a bumpy ride.
Source: The Guardian
CRAZY CAT STORIES
Catstanbul: Inside the city where cats rule the streets – BBC Travel
From Ottoman ‘cat sitters’ to modern-day street guardians, Istanbul’s bond with its cats runs centuries deep.
Source: BBC Travel
OUTSIDE THE TRADE
Scotland 4 Denmark 2 – Instant reaction to the burning issues | The Herald
We’ll be coming… but in true Scottish fashion let’s stop enjoying it for a second to agonise over the burning issues.
Source: The Herald
Reselling gig and other tickets above face value to be banned by government – BBC News
Hear hear.
Source: BBC News
Sean McKinven is PR account executive at the lang cat
