Why might Wealth Management Advisor clients have a claim from the Financial Services Compensation Scheme (FSCS)? The FSCS is there to protect customer investments in the event that their savings are lost as a result of malpractice. Not in simple cases where investment returns have fallen. The current level of protection is £85,000. For Wealth […]
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Your Financial Adviser near Burnley brings you a roundup of the financial news from May 2023: A new educational pension channel launched. Aegon have launched Pension Geeks TV as part of their online platform. The “show” looks at frequently asked pension questions to try to improve understanding. Initially the content is being targeted at Aegon’s […]
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Artificial Intelligence (AI) market leader Chat GPT has created an Investment Planner fund. In a supposedly theoretical exercise, the AI software instructed by www.finder.com has picked out 38 companies to invest in. So far so good, with the fund up by almost 5% in the first eight weeks. Seems they’ve kept it simple with companies […]
Financial Consultants have welcomed news that HMRC have brought forward proposals to help reduce the amount of unpaid tax. The current figures is £46 billion which is mainly due from small businesses. In the past HMRC would have sent in the bailiffs but many online businesses don’t have any assets for a bailiff to seize. […]
Will lower value clients be disadvantaged by the new Consumer Duty? Some Wealth Management Advisers think that they will. Research from Wealth Wizards found that there were a significant number of lower value clients (those with assets under management of between £25,000 and £50,000) who had ongoing service arrangements with advice firms. 50% of these […]
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Many Local Pension advisors have expressed concern amount recovered from HMRC for overtaxed pension withdrawals since 2015 has now hit £1 billion. In the first three months to the end of March 23, over 15,000 people received a refund of overpaid tax totalling almost £50 million. With an average value of £3,000 per claim. But […]
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