Bento Bulletin

Please find below the most recent articles from our Panacea Bento Bulletin.

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Those article links with an asterisk next to it (*) denotes that issue's lead story.

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Bento 1110: Why goal setting can open doors for you in 2020
22 Jan 2020

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This article is about how to choose New Year's resolutions that could actually change your life and more importantly how to keep them! 

January (in Latin, Ianuarius) is named after another Latin word, this time for door (ianua), this was because the first month was viewed as the door to the coming year and an opening for new beginnings.
 
 
   
 
 
 
 
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Do you have clients who need critical illness cover but they're put off by cost?  Having cover that pays out an income rather than a lump sum could be the solution.
 
 
 
 
 
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In 2019 we had a steady number of enquiries from people interested in purchasing a property abroad as exchange rates more or less stayed the same throughout the year. Some spikes were occasionally seen due to the Brexit date being moved around and people wondering if it would ever happen.
 
 
   
 
 
 
 
 
 
 
There is a spectrum of approaches to responsible investment, from simplistic negative screens that exclude certain sectors or industries to the full integration of ESG factors in the investment process.
 
 
 
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We are threatened with excitement in 2020, from civil unrest and ongoing trade wars to political upheaval and market volatility.
 
 
 
 
 
 
 
 
Square Mile talked to some of the fund management faces of the future on their background, career path and what they like to do outside of work and this is what they said...
 
 
 
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Bento 1109: Resolutions don’t work but goals do
20 Jan 2020

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So did you set a new year’s resolution for 2020?

Perhaps you pledged to get fit and lose weight after the festive excesses or even give up drinking after visiting the recycling centre and dropping off all those wine bottles?

Personally, I am no fan of New Year’s resolutions, as statistically not many of us stick to them.

 
 
   
 
 
 
 
 
 
 
2019 started with the glass half empty and ended with the glass half full. Then markets were jolted by a US missile attack as the new year began, and chief investment officer Julian Chillingworth ponders whether recent positive signs can become lasting trends in 2020.
 
 
 
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The lang cat’s research made it clear – giving your clients what they want is paramount, but every client is different. We’re offering flexible solutions on our platform to help fulfil all requirements and make life easier for you too. Find out what else the research revealed and what we're doing to improve our platform options,
 
 
   
 
 
 
 
 
 
 
James Anderson of Scottish Mortgage Investment Trust discusses why we need to embrace risk and volatility to achieve long-term rewards.
 
 
 
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Watch our latest webcast with Richard Woolnough, Fund Manager of the M&G Optimal Income Fund, as he reflects on the opportunities and challenges for global fixed income in 2020.
 
 
 
 
 
 
 
 
Often couples know the value of assets such as investments and houses but they don’t know the value of their pensions and these could be the largest asset to be dealt with on divorce. 
 
 
 
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A range of multi-asset funds targeting a broad spectrum of risk and return objectives. View the talking factsheet for the ASI MyFolio Managed Range
 
 
 
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Bento 1108: Control your own destiny or someone else will!
16 Jan 2020

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My last article was about Business Vision, the ability to define with confidence and facts the way in which your business and life could evolve. I’d now like to look at a key step in this process, the business audit.
 
 
   
 
 
 
 
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Square Mile and FE fundinfo are to assist financial advisers in their fund selection through the launch of a Fund Dashboard.
 
 
   
 
 
 
 
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The best European companies are those whose management think hardest about securing future growth, says Stephen Paice of Baillie Gifford’s European Fund. 
 
 
 
 
 
 
 
 
To help you plan and implement campaigns during this key period, FundsNetwork's tax year end hub brings together a whole range of material to support your activity and client discussions.
 
 
 
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It includes a special focus on Tax & Estate Planning. News on FCA pushing ahead with simpler platform transfer rules, as well as the most up-to-date fund performance figures of any trade monthly, covering over 9,000 funds. 

Save 30% today for a 12-month subscription to Investment Life & Pensions Moneyfacts magazine.

 
 
 
 
 
 
 
 
Equity markets were surprisingly upbeat in 2019, despite slowing economic growth, ongoing trade disputes and geopolitical tension. Can markets deliver again in 2020? 
 
 
 
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To continue helping to make your studying effective, our second series of Learning to Learn presentations moves from the planning stages to the actual studying process.
 
 
 
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Bento 1107: FCA consultations, is this any way to run a ballroom 2?
9 Jan 2020

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Last month we made available for all to see the results of an FOI request to the FCA relating to consultations. Our worst fears were realised when we eventually got a reply. 

It confirmed what it would seem many held as a shared view.

If some 93,000 regulated firms can manage to muster an average, based on my FOI reply, of some 45.6 respondents per consultation, what hope is there for firms to engage with any FCA consultation if those responding feel there is not some very real input to shape positive outcomes that is listened to. 

 
 
   
 
 
 
 
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Our head of multi-asset investments, David Coombs, consults the tea leaves as he prepares for a new decade.
 
 
   
 
 
 
 
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A new regulatory regime is beginning – is your firm ready? 

The FCA has extended the Senior Managers and Certification Regime (SM&CR) to all solo-regulated firms from 9 December 2019.

 
 
 
 
 
 
 
 
Invesco’s investment teams from around the globe outline their expectations for 2020 to help investors plan for the coming year, wherever the markets take us.
 
 
 
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Many will know Graeme Abell, Director of Nationals & Networks for M&G UK Retail. He had worked for M&G for some 19 years and retired in December. It was therefore with considerable sorrow that we learned of his untimely death just before Christmas. He was a great friend and supporter of Panacea and we are sure he will be sorely missed by very many of our IFA community in addition to his family.
 
 
 
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Recession risk remains heightened though the odds of one forming have dropped as the economic data shows signs of stabilising. Read the latest thoughts from Jason Broomer, Head of Investment. 
 
 
 
 
 
 
 
 
How did markets around the world fare in 2019? With fears of further US interest rate rises, the economic slowdown in China and a potential trade war in the mix in late 2018, the economic outlook for 2019 wasn’t bright. 
 
 
 
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Aegon Advice Makes Sense hub
7 Jan 2020

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We've created this hub to help you navigate the latest industry changes, developments and issues. You’ll find our latest articles and research, as well as links to our other technical hubs to further develop your knowledge and support your conversations with clients.
 
 
   
 
 
 
 
 
 
 

Ronnie Taylor, Chief Distribution Officer, speaks to CISI's Chris Morris about the fundamental issues that will impact on the future of financial advice.

 
 
 
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Help reassure nervous clients and reduce their exposure to volatile markets.

 
 
 
 
 
 
 
 
To find out firsthand what the barriers to taking financial advice are, we asked over 2,000 consumers what they thought about financial advice. The results are extremely encouraging showing how much of a difference advice makes to people’s lives. Three quarters (73%) of people with a financial adviser have clear financial and personal goals and know what they’re saving for, compared to just 39% of those who have never used an adviser.  These findings will be of use to dispel any preconceptions about advice and encourage potential clients to seek your expertise.
 
 
 
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We surveyed over 250 financial advisers to understand how they and their clients are using platform investments.

 
 
 
 
 
 
 
 
Listen to Nick Dixon, Investment Director, and Richard Whitehall, Head of Portfolio Management, chat about Brexit, their current asset class views, and what it all means for investors. 
 
 
 
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Top Panacea articles of the year!
30 Dec 2019

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I would like to make a heartfelt suggestion or two about how the regulation and protections in the financial services industry could be re-engineered, for in regulatory parlance, better regulated firm and consumer outcomes. 

This is quite long, but it needs to be to articulate conceptual thinking that can be taken forward and developed.

 
 
   
 
 
 
 
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The FCA carry out many consultations, all for very good reasons, at least we hope that is the case. But there is a suspicion in the intermediated distribution world that the reality is that the decision has already been made and that the consultation is there to demonstrate the inclusiveness of the regulator and nothing more.
 
 
   
 
 
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In situations like this I often turn to the blues for some short sharp analytical lyrical inspiration of the situation. In this case to quote Muddy Waters (not that firm) but the blues-man’s song ‘Rolling and Tumblin’.  
 
 
   
 
 
 
 
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A few weeks back I saw that Bank of Scotland were subjected to a fairly whopping fine for ‘Fraud Failures’.


 
 
 
 
 
 
 
 
We hear that BA is facing a chunky fine for data protection breaches, £183m in fact, equivalent to 1.5% of the airline's annual turnover. The Information Commissioner's Office said it found "poor security arrangements" by BA. CEO Alex Cruz expressed surprise. This the biggest the ICO has ever imposed.
 
 
 
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Dodgy dealing has come along way over the years, gone are the good old days’ as some may see it, when a little bit of petty larceny was seen as a fair contest between the ‘punter,’ the police and the villain. 
 
 
 
 
 
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CMC’s are about to have some insights into what regulatory reality should be about. 

The word from ‘Endeavour Square is that "We will be out, and we are starting to think which firms we're going to visit in the next days and weeks.".

 
 
   
 
 
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Mobiles are everywhere today, you cannot escape them. In the office, on the train, in the street, the office, airplanes, the underground, cinema, restaurants, theatre, gym, sauna.  My latest encounter was only last week, a steam room at my gym where the texting user when asked if it was appropriate to have a mobile in such a place advised me it was ‘waterproof’, an amazing example of not getting the consideration for others point.  
 
 
   
 
 
 
 
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We highlighted in November the need for firms to respond to an FCA consultation on a proposed FOS compensation limit hike of 200k taking the maximum  pay-out to £350k. 
 
 
 
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The most read partner articles of 2019
27 Dec 2019

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Infrastructure holds an important place in the fabric of modern society, serving as the backbone of the world economy.
 
 
 
 
 
 
 
 
Illness and injury can happen to anyone at any time, and for some it can have a big impact on everyday living, both now and in the future.
 
 
 
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Millennials, broadly defined as the generation born 1980-20001, have grown accustomed to these sweeping generalisations. We are blamed for weak new car sales, the death of bricks-and-mortar retail, rising debt, and flagging home-ownership rates.
 
 
 
 
 
 
 
 
While partnering with a Discretionary Fund Manager is an established investment discipline, there’s been virtually no hard data on how advisers who’ve adopted it have performed against non-adopters. 
 
 
 
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Take a look at our new dedicated DB hub to see how our DB support material can help you. We’ve developed and adapted our support material to highlight the important areas to consider before deciding if a transfer may be suitable for your clients.  
 
 
 
 
 
 
 
 
Scottish Mortgage is the UK’s largest investment trust. Join joint managers James Anderson and Tom Slater, as they discuss why they believe that it is the impact of a very small group of exceptional companies leading fundamental change in industry, the economy and society that is driving returns for long-term investors. 
 
 
 
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Nobody can predict if or when a heart attack might strike. But what’s most important to know is that if it does happen, the protection your client bought is going to pay out when they need it most.
 
 
 
 
 
 
 
 
Taking a sustainable level of income is important in helping drawdown customers maintain a resilient portfolio during periods of investment volatility.
 
 
 
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Bento 1106: The land of make believe... where fiction meets fact
23 Dec 2019

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I have just returned from FECIF’s 20th Anniversary Conference in Brussels. FECIF is the European Adviser and Intermediaries Association and Libertatem has been a member since we first opened our doors for business.
 
 
   
 
 
 
 
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Boris Johnson has won a strong mandate to get on with his Brexit deal, sending sterling shooting higher. But what else will his government do in the next five years? 
 
 
   
 
 
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Boris Johnson will remain as the UK Prime Minister after the Conservatives won with a 72 seat majority (having won 361 seats with 648 of 650 seats declared) which saw the pound react positively as the results of the vote were announced.
 
 
   
 
 
 
 
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The election is over and the results are in – a Conservative majority. But what could we expect looking ahead?
 
 
 
 
 
 
 
 
Moneyfacts has negotiated a new, special subscription offer, exclusive to Panacea Adviser members! Save 30% on a 12-month subscription to Investment Life & Pensions Moneyfacts magazine.
 
 
 
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Assess the advantages and disadvantages of using smoothed investment solutions, in addition to busting some of the myths surrounding them. Don’t miss out – last chance to view the webcast.
 
 
 
 
 
 
 
 
In this short video, hear M&G fund managers Stefan Isaacs, Tristan Hanson and Michael Bourke discuss where they see challenges and opportunities for investors in the New Year.
 
 
 
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As we reach the end of 2019, we want to say a big “thank you” for your continued support. We look forward to working with you in 2020 and hope you enjoy the festive season.
 
 
 
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Season's Greetings
20 Dec 2019

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As the holiday season is upon us, we find ourselves reflecting on the past year, our wonderful and very loyal IFA community who have helped to shape what we do, with who, how and when. It’s been quite a year for all in the adviser world. We hope that 2019 has been successful and memorable for you, your colleagues and your loved ones.

The team at Panacea wishes you peace, joy and prosperity throughout the festive season and the coming year. 

A big thank you for your continued engagement and support, a rich and vibrant community that is responsible for over 60% of the UK intermediated financial services distribution in 2019. Without it we could not do what we do. We look forward to supporting you all once again in 2020.

 
 
 

 
 
 
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Bento 1105: Celebrating two years of infrastructure investing
12 Dec 2019

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The M&G Global Listed Infrastructure Fund has recently celebrated its two year anniversary. The fund, which is managed by Alex Araujo, launched in October 2017 to give investors access to the compelling investment characteristics of long-life infrastructure assets.

This short video highlights how the defensive qualities of listed infrastructure have benefited investors and why now is an excellent time to invest in this exciting asset class.
 
 
   
 
 
 
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The whole area of retirement planning is arguably more complex than ever before, so FundsNetwork have pulled together a range of topics that have been popular with advisers and paraplanners in recent months. The toolkit allows you to easily navigate to the content of most interest to you. 
 
 
 
 
 
 
 
 

All of our members and their immediate families have access to HealthWise; our member benefits app, providing access to a variety of wellbeing services. 

 
 
 
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Two times a dad, our multi-asset investment specialist Craig Brown is finding it hard to learn old lessons. Like with investments, sometimes it’s painful when you just can’t leave things be…
 
 
 
 
 
 
 
 
Investors have been troubled by the region recently, with a growing feeling that it is mirroring Japan’s ‘lost decade’. But there are reasons to be positive about it, and we are bullish on defensive stocks which we believe are currently trading too cheaply
 
 
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