Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that the Financial Planning Association has announced a major new advocacy initiative: to pursue legal recognition of the term “financial planner” through title protection (such that those who don’t meet the competency and ethical standards of […]
Archives for July 2022
Assuming you’ll retire healthy is an expensive mistake
Audit Quality Review: “Long-term improvement” still required, FRC says
Improvement is still required despite good results in the Financial Reporting Council’s latest audit quality review, as performance at Mazars and BDO remain “unacceptable”. The FRC revealed in its latest audit quality review of the largest audit firms, that 75% of audits inspected were good or required “limited improvement”. However, a quarter of the overall […]
CII to overhaul Financial Planning exam assessment
The Chartered Insurance Institute is considering major changes to the assessment of its R06 Financial Planning practice qualification as part of a raft of changes. The CII says the changes follow its ‘Shaping The Future’ report which asked members for feedback on CII services and structure. The CII says the proposals to introduce “streamlined qualifications, […]
Editor’s Comment: Boomers to fuel retirement advice demand
A new study provides strong evidence that demand for regulated advice in the run up to retirement is only going to grow in the coming years. The report from retirement tech firm Dunstan Thomas reveals some concerns too but I’ll come to those later. According to the report, the rising demand for advice is being […]
Many ‘Boomers’ want to work past 70
A new survey warns that many Baby Boomers (those aged 58-75) are being forced into early retirement and would prefer to retire later – past 70 in many cases. Many say they would like to work later to boost retirement income and help their families. Many also want regulated financial advice before they fully retire, the […]
Advised customers rise 16% for AJ Bell
The number of advised customers at investment platform AJ Bell have risen 16% over the past year. The platform now has 141,856 advised customers, according to its latest trading update. The number of advised customers rose 3% in the three months ended 30 June 2022. Total customer numbers increased 18% over the past year to […]
New Mariner mega-firm seeks to grow to 5,000 advisors
The Gift That Keeps on Giving: How to Make a Charitable Donation Deduction
One of the great things about running a business in America is that your business can make tax-deductible donations to your favorite charities. Seventy-six percent of American businesses donate 6% of their profits on average. And, 85% of consumers have a more positive view of companies that donate. If donations are already at the heart […]
Audit firms asked to address exam cheating following Big Four scandals
The UK’s accounting watchdog has called on audit firms and professional bodies to ensure exam cheating does not occur in the UK following reports of staff at Big Four firms cheating at exams in the US, Canada and Australia. The Financial Reporting Council (FRC) wrote to the CEOs of the largest auditors of UK listed […]