Consumer confidence is in “freefall” – including the confidence of personal finance savers. The confidence of personal finance consumers in April dropped below the level seen after the 2008 financial crash, according to research company GfK’s long-running Consumer Confidence Index. The overall Consumer Confidence Index, published today, plunged by seven points in April to -38 […]
Archives for April 2022
FCA concerned about Challenger banks and financial crime
The FCA has expressed concerned about “weaknesses” in financial crime controls at some Challenger banks. A review by the watchdog has found that Challenger banks – newer, smaller and often online-only – needed to improve how they assess financial crime risk. The Challenger banks are already believed to be serving 8m customers. The Challenger banks, […]
Advisory revenue boosts XPS Pensions Group
Pension consultancy and administrator XPS Pension Group has reported 8% growth in revenues over the past year thanks to strong growth in advisory revenue, according to a trading update ahead of its full year results in June. The company said underlying the positive performance was advisory revenues up 7% year on year. Pensions Actuarial and […]
Wealth manager set to be acquired by TD Bank settles FINRA case
Have a Business Interest Expense? You May Be Able to Deduct It
Take out a business loan or have a mortgage for your brick-and-mortar? You may cringe when you see your business interest expense add up. But here’s a bit of good news—there’s a business interest expense deduction you may be eligible to claim (hooray!). Read on to learn more about business interest expenses, including what types […]
Change in PE owners for Ascot Lloyd
European private equity firm Nordic Capital is to acquire Financial Planning firm Ascot Lloyd from current owners Oaktree Capital Management for an undisclosed sum. Nordic will also acquire the interests in Ascot Lloyd held by Ares Management Corporation. The deal is subject to regulatory approval. Ascot Lloyd will use the investment from Nordic Capital to […]
Kitces & Carl Ep 84: How Do You Introduce Yourself If Not As A ‘Financial Advisor’
Financial advisors have often been trained to perfect their ‘elevator pitch’ as a way of generating business development opportunities, and leveraging any social situation (even casual ones like a barbeque or a cocktail party) to prospect for clients. This approach created a long-standing negative reputation that financial advisors are only in the business to sell […]
Business Update – 20 April 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Latest Changes in Travel Rules The requirement for people travelling to Australia from overseas to test negative for COVID-19 before arrival has been lifted. A ban on international cruise ships coming to the […]
Scam warnings flagged for 7 in 10 pension transfers
Seven in ten pension transfer requests made in March showed indicators according to the XPS Pension Scam Flag Index. This is the third consecutive monthly increase in scam warnings. Scam warnings are now at their highest since December 2020, when 76% of requested transfers showed scam flags. Helen Cavanagh, client lead, member engagement hub, at […]
The RISA Framework: A Systematized Approach To Personalizing Retirement Income Strategies For Clients
As average life expectancy has increased over time, so too has the importance for retirees to ensure that they have sufficient income to cover their needs throughout what could be a 30-year (or longer) retirement. While some advisors may rely on a single ‘favorite’ income strategy to recommend to clients, recognizing that retirees actually have […]