There is a major force reshaping pensions and it is unstoppable, it’s called demographics and it will require the pensions industry to rethink everything it does.
It’s a shame to admit it, but fear is clearly driving demand for Financial Planning advice in some quarters.
It’s no secret that the FCA has come in for flak over it’s naming and shaming enforcement plans and it’s no surprise it has decided to dilute them as a result. But should it be backing off?
It was good to see a new Financial Planning initiative this week to reach the so-called TikTok generation.
I have to confess I was quite pleased this week when Aegon pension sage Steven Cameron raised an issue that many have neglected: the fairness of the State Pension.
It’s been a bad week for some adviser firms with no fewer than seven being declared as failed or under investigation by the Financial Services Compensation Scheme.
There’s been a lot of coverage lately on how older generations, particularly the better off and HNW clients, are helping out younger generations by funnelling cash to hard-pressed family members.
There is no doubt in my mind that retirement planning is changing in unexpected ways. Whether it is changing for good or just adapting to a post-Covid, high cost of living world remains to be seen.
I suspect a cold shiver went down many the backs of many at the larger adviser firms this week with news that the FCA is asking for details of their ongoing charges.
As the next stage of the FCA's Consumer Duty looms in July - when legacy products and sales will be included - some new research suggests the Duty may be rather more of a burden on Financial Planners and advisers than first thought.
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