Sean McKinven's Newsround: 27 April

Hello.

The Squirrel is here. When I first read this scoop these were my thoughts back in February.

So, it looks like the campaign has been launched and we’ve been introduced to Savvy the Squirrel. He is not wearing a Hawaiian Shirt, but a hoody and this isn’t the Autumn. By that logic everyone was wrong and this an absolutely fantastic campaign, well done. See you on the other side of the roaring… well, I guess we’d better say thirties now.

The keen eyed among you will notice that the leaked story pertained to the TV ad campaign, not the launch. So we may still have tropical Savvy too look forward to come the Autumn. This iteration involved Rachel Reeves at the stock exchange.

My thoughts on this and the AJ Bell advert, in my junior capacity, still apply. Yes, if you want more people to benefit from investing and with all the relevant information behind them, you need to challenge assumptions about the type of people who invest. At the same time, just putting a hoody on the squirrel doesn’t necessarily represent the swathe of ordinary people who need to recognise investing might work for them.

Ordinary people do wear hoodies; some not very ordinary people wear hoodies.* But ordinary people are more complicated than their choice of jumpers. The hoody suggests this applies to you, ordinary person who wears practical and apparently comfortable outwear**.

What I think is missing though is how people can build on their ordinary aspirations in a way that gives them the confidence, knowledge and faith to work towards something bigger. As as example, salaried young professionals aren’t going to care what a squirrel tells them their retirement could look like if they can’t see themselves getting on the housing ladder and are unaware of how to do so.

Campaigns like these aren’t unhelpful, but in isolation I’m not sure they’re a panacea. With wider education and more concise marketing, people can build towards smaller goals like managing debt and increasing security. When people see it working for them, they will be able to work towards the bigger stuff.

*Sorry Charles.

** Not a hoodie guy myself, but long time readers might not describe me as ordinary.

The News:

LANG CAT & CLIENT MENTIONS

AI and the FCA: Regulating the brave new world

Alison writes on AI and regulation.

Source: Professional Adviser

Truly Independent: ‘Financial advice for everyone’ – what does it really mean?

The lang cat’s Advice Gap research referenced.

Source: IFA Magazine

Paraplanning is no longer a stepping stone to advice

SOTAN inspiring this feature.

Source: Money Marketing

MPS on platforms still causing adviser pain points

More coverage from the Morningstar Wealth MPS report.

Source: Professional Adviser

Aberdeen ramps up support as tax year demand rises

Some TYE numbers coming out from Aberdeen Adviser.

Source: Money Marketing

What Justin Bieber is telling you about your clients

Bet you never thought you’d see”Park Biebs for second. Everyone is feeling it at the moment.”

Source: Professional Adviser

Mark Sanderson: From Scotland to SA, advice firms face the same challenges

Morningstar Wealth’s managing director in International Adviser.

Source: International Adviser

7IM broadens income‑focused model portfolios

Source: Professional Adviser

ADVISERS

Financial adviser earnings rise significantly – BWD Census

Not a bad year for some of yous.

Source: Professional Adviser

FCA reveals regions with biggest and smallest advice markets

London and the South East account for more than the next three regions combined.

Source: Citywire NMA

PLATFORMS

Transact net inflows rise to £1.3bn in strong quarter

Some big numbers here.

Source: Money Marketing

Nicky Sevel: Advisers have ‘scars’ from changing platform

Some more platforms and advisers crossing over.

Source: Citywire NMA

Angry Hargreaves Lansdown investors fuel £3bn boom at Interactive

Source: The Times

Platform consolidation raises competition concerns, adviser study finds

Advisers and platforms crossover episode.

Source: Wealth Investment News

Gen Z more likely to save with 22% already at £10,000 milestone

A look at some generational saving.

Source: Money Marketing

INVESTING AND WEALTH MANAGERS

UK’s relationship with investing ‘starting to change’

Some interesting research from Vanguard.

Source: Wealth Investment News

UK wealth giants launch national campaign led by ‘Savvy the Squirrel’

It’s here.

Source: Citywire NMA

REGULATION & POLICY

FCA names second cohort for AI live testing programme

AI and regulation crossover episode.

Source: Money Marketing

Platforms oppose AI-blockchain fund buying plans

“Two platforms are involved in a working group investigating how blockchain technology could be used to allow customers to buy funds directly from AI chatbots.”

Source: Citywire NMA

Finally, an answer: how much is a pint of Guinness in every British pub?

The AI engineers have powered the Guinndex. Did you know there was a Guinness equator in the UK? You do now.

Source: The Times

TRADE & ECONOMY

Circular AI funding deals could pose ‘systemic’ risk, IMF warns

Oh, good.

Source: The Times

UK unemployment shows surprise fall to 4.9% as pay growth drops to lowest in five years

Almost good news, it’s sure a good thing there isn’t some economically destabilising geopolitical event going on.

Source: The Guardian

Global energy markets are on the verge of a disaster