There was worrying news this week that pension drawdown users are taking out far too much cash from their pensions.
I was intrigued and more than a little worried this week by a report about consumer expectations of an inheritance windfall. It turns out many millions see an inheritance windfall as almost guaranteed.
There are some intriguing demographic changes coming down the road in terms of longevity which government policymakers - and Financial Planners - will have to take on board.
For at least the past 10 years, the wealth management and Financial Planning sectors have talked about the 'Great Wealth Transfer' but I’m beginning to wonder if much of that is under threat.
It appears that the Consumer Duty has resulted in several positive outcomes, however one thing it has failed to shift is the mountain of paperwork which still deluges most clients.
Sasha Wiggins, the CEO of Barclays private banking and wealth management arm, has a job on her hands.
Amid fears this week about Chancellor Rachel Reeves raiding pensions to plug tax gaps, there was better news on the State Pension for women.
Back in 2002 Donald Rumsfeld, US Secretary of Defence, coined a phrase which has been repeated a million times since but I’m increasingly wondering whether it could be applied to UK pensions and ultimately financial advice (or rather lack of it).
I attended the launch in central London this week of the Personal Finance Society’s £1m drive to find new blood for the profession and tackle the worrying long-term decline in new entrants. It was a sobering morning.
I don’t think I was the only one a little surprised by the Chancellor’s decision this week to order a significant review of at least part of the Consumer Duty, which was only fully introduced in 2023.
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