Archives for October 2021
Weekend Reading for Financial Planners (Oct 30-31)
Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with a (Twitter-based) breakdown of the final text of President Biden’s latest “Build Back Better” Act, which is perhaps more notable from a financial planning perspective for what parts of the previously proposed tax legislation it doesn’t include (forgoing […]
RBC, Raymond James, LPL, plus annuity growth, Black wealth podcast, ESG guidance and more
Editor’s Column: Inflation threat will destabilise 2022
I suspect more than a few lovers of red wine, myself included, winced when we heard the Chancellor planned to add the best part of 50p to a bottle. I doubt it will hit wine consumption too much but it was one of many twists in a Budget this week that I found more than […]
Growth costs trim LPL’s earnings, even after massive advisor influx
eMoney reveals roadmap to help advisors ‘plan with purpose’
Pension Freedoms result in £800m overpaid tax
Latest HMRC figures show that £794m has been repaid to people overtaxed on flexible retirement withdrawals since the Pension Freedoms were introduced in 2015. Between July and September 2021 almost £45m was repaid to savers with an average reclaim of £3,352, according to analysis of the figures by AJ Bell. The overpayment in tax was […]
US private equity firm is new owner of Progeny
US-based private equity firm Further Global Capital Management is to acquire a majority stake in expanding Financial Planner Progeny for an undisclosed sum, a move which may accelerate Progeny’s expansion. New York-based Further Global Capital Management said today it would take a majority stake in the five-year-old Progeny business subject to regulatory approval. Progeny’s senior management […]
Mattioli Woods restores staff year-end bonuses
Mattioli Woods has reinstated staff bonuses this year after dropping them last year due to the pandemic. The firm said the business had recovered significantly since the pandemic and client confidence was returning. The company reported that the number of new clients added in the first four months of the current financial year exceeded the […]
FOS costs rise as waits lengthen
The average cost per case for the Financial Ombudsman Service (FOS) has risen to £1040 in 2020/21 from £920 the previous year. The FOS said it received a much larger volume of complaints about investment and pensions than it expected to in 2020/21. The ombudsman received 20,854 complaints related to investments and pensions over the […]