Industry news and views from Panacea and our partners.
Regulation_
Latest news from Aviva
Weve asked two advisers to talk to us about the benefits of using the Aviva Platform with their clients.
The communist state is alive and well in Canary Wharf
The new rules for mortgages have arrived and already we are hearing examples of the problems it is causing and undoubtedly will continue to cause until the Polit bureau in Canary Wharf give some credit to those who may wish to decide for themselves if they are able to take on mortgage responsibility and for lenders to make a decision as to whether they want to lend based on better relevant assumptions than lifestyle choice influencers that can easily change after the event when the deal is done.
Responsibilities, resignations, retributions
Yet again we see industry calls for responsibility in office from those who regulate.
RDR Thematic Reviews: more woe for the FCA?
Whilst FCA executives are still claiming that the jury is still out on gauging the overall success of the RDR, the UK regulator will have been greatly disappointed by the results of two new thematic reviews. The first, published at the end of March, looked at independent advice.
Is regulation breaking UK plc?
Regulation, we are told, is a vital part of society, it is local, national, European and some cases global yet despite it ever invasive, viral presence in UK society it seems that the more we regulate the worse it gets.
Scottish Life: Legal highs - the 2014 budget
Allowing increased flexibility in the way people take their benefits from a pension scheme is A GOOD THING. But with flexibility comes responsibility.
Garry Heath: Canary Wharf Ten Years On
It has been ten years since I visited the regulators Canary Wharf HQ. Last time I went to discuss the impact of TCF on the activities of bancassurers who were selling seriously overpriced life assurance to non-standard bank customers.
How much is that doggie in the window?
So, three in four firms failed to provide the required information on the cost of advice. There has been much focus on the restoration of trust in financial services and it would not be unreasonable to assume that clarity on the how much bit could be seen as a cornerstone. The FCA is looking at how this is explained or quantified by advisers. The advisers may be looking at it from a client querying perspective as in explaining how much and why!!!!!!?????
M&G Business Matters: The impact of FSA to FCA
In this video Peter Grimmett, Head of Fund Regulatory Development at M&G, talks us through the change in the UK financial services regulator at the start of the year
Trail matters & FCA meeting
Following our recent survey on trail and the snapshot poll we did late last year, I can report that we have now had a meeting with the FCA to discuss adviser concerns.
APFA asks advice firms to help count the cost of regulation
The Association of Professional Financial Advisers (APFA) has today launched a survey of the advice industry to establish a 'Cost of Regulation Index' for the sector.
Fidelity personal investing calls for ban on exit fees
Fidelity Personal Investing is calling for an outright ban on the charging of exit fees from all long term savings products. Fidelity believes exit fees create a barrier to customers moving assets between providers, due to the significant charges being applied.
Adviser charges to be removed from Critical Yield
The FCA say we will not be able to take commission for new advice and you need to disclose upfront how much your advice will cost and how it will be paid.
FCA Incentives Review
You will have seen last week in Tisatalks our LinkedIn page a blog explaining the publication of the latest FCA findings on incentives.
NMBA: Our profession needs you!
NMBA will always seek opportunities to act in the best interests of our Members, and one of the many ways we already do this is to highlight initiatives that will positively affect you and our profession.
Fidelity: Response to FCA Thematic Review of Annuities
Alan Higham, Chairman of Annuity Direct and Head of Retirement Insight at Fidelity initial thoughts ahead of Friday
Compliance Consultant: So What Is This Conduct Risk All About?
Conduct Risk is the buzz phrase in the financial services world today; but seems a great deal of confusion and many people want to know what this involves.
FSCS, Stick a pony in me pocket, I'll fetch the suitcase from the van
An adviser contacted me recently regarding a very interesting dinner party conversation about the FSCS and its supposed pot less state.
Revisting the highland clearances
Please forgive me for seeing some similarities between the post RDR adviser number fallout, the pre RDR divisions of the anti and pro RDR lobbies, the so called at the time silence of networks, AIFA (APFA) and the Highland Clearances.
Safeguarding the future of your business Life after Trail
As many of you will be aware, earlier this month, in conjunction with New Model Business Academy, Panacea Adviser hosted a panel debate examining how advisers will fare once the end of trail commission comes into play and how advisers can prepare for the future of their business.
Wheatley is pleading the fifth.
In the constitution of the United States when a suspect invokes his or her Fifth Amendment right to remain silent, this is referred to in the vernacular as "pleading the Fifth." It should not by any means be taken as a sign of guilt, but it is generally portrayed as such in the movies when some criminal act is trying to be covered up in the hope it goes away.
TISA CP13-5 update and the current regulatory environment for CASS - Seminar
This TISA seminar is intended for firms that wish to learn the latest position on the proposals in CP13/5 as well as hear practical guidance based on experience from senior practitioners in the market.
Pension- somewhere cheap to stay in France?
Both my wife and I paid into a pension as soon as we started work at age 17, and we increased the contribution percentage of our salaries several times during the 1970s throughout the 1980s, and our employers also increased their contribution percentages as well.
SWIP: Supply and demand versus command
It has been a bad few weeks for Adam Smiths invisible hand of the market. Politicians are queuing up to assert that they are better at setting prices than the markets themselves.
The Financial Ombudsman Service Tips of the Trade
Earlier this month the Financial Ombudsman Service (FOS) announced that Natalie Ceeney would be stepping down as Chief Ombudsman.
The Financial Ombudsman Service Tips of the Trade
Earlier this month the Financial Ombudsman Service (FOS) announced that Natalie Ceeney would be stepping down as Chief Ombudsman.
Safeguarding the future of your business life after trail
As the sunset clause date of April 2016 approaches, a recent poll conducted by Panacea Adviser established that 91% of over 1,400 advisers polled said that the removal of trail will be catastrophic for their business. Because of such as strong response, Panacea Adviser and NMBA have joined up to bring you an exclusive event with key industry figureheads to address the issues.
Scottish Life: Clean conversions - expectations from the FCA
A summary of the FCA's Guidance Consultation document (GC13/7) on the conversion of pre-RDR classes to post-RDR equivalents.
I wanna tell you a story
I wanna tell you a story of how the world of easy mass-market access to advice, now in intensive care, will see the life support machine finally turned off.
Hit me baby one more time
How much more must the world of financial advisers come under attack? Nearly 1,000 advisers have now voted on our poll Will the removal of trail commission have a negative effect upon your business?
Gertcha, cowson, gertcha
Its called the tipping point. Individually and as an industry we all have one, its the point when enough is enough and action has to be taken.
Gertcha, cowson, gertcha
Its called the tipping point. Individually and as an industry we all have one, its the point when enough is enough and action has to be taken.
TrailTube- the movie, your movie in fact
With nearly 800 community members so far telling us that the removal of trail will have a catastrophic effect on their business, we feel a sense of duty calls to make sure the concerns of so many are heard and hopefully acted upon.
TrailTube- the movie, your movie in fact
With nearly 800 community members so far telling us that the removal of trail will have a catastrophic effect on their business, we feel a sense of duty calls to make sure the concerns of so many are heard and hopefully acted upon.
Please, please please STOP
There is a marvelous moment in Blackadder goes Forth where Capt. Blackadder, getting rather irritated by the lack of humour that he finds in Charlie Chaplin movies dictates a telegram for Bob to send to Mr. Chaplin.
Aviva: Post RDR landscape is better than predicted
Aviva's latest Adviser Barometer reveals that advisers are feeling broadly positive about the implementation of the Retail Distribution Review.
FCA, asleep at the wheel or just showing off
Will the removal of trail commission have a negative effect upon your business?
Scottish Life: The future of trail commission
There has been a lot of coverage in the press following the Financial Conduct Authority's (FCA) Board Meeting in June. We consider what was said, what the issues are and what happens next.
Regulatory & Investment Change
2013 is a year of major regulatory change for the wealth management, retail fund management and the advisory sectors. The investment landscape is proving more positive but still fragile, but how are the clients responding to these challenges?
Regulatory & Investment Change
2013 is a year of major regulatory change for the wealth management, retail fund management and the advisory sectors. The investment landscape is proving more positive but still fragile, but how are the clients responding to these challenges?