The greatest danger to IFAs is our reproductive impotence

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In the last six months, “robo advice” has become a genuine contender in the personal investing landscape. But lurking in the shadows is a much bigger threat to IFAs’ future…..and that’s our collective failure to reproduce. I’ve been monitoring the robo advice space for nearly eight years now. Until now, it was hype, theory and...

How has the FCA reacted to the increase in final salary transfers?

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Probably the most significant trend over the last year has been the dramatic increase in final salary transfers. So, it is no surprise that the FCA has published proposals to make a variety of changes to the advice process. These form part of a consultation running until 21 September, in which the FCA also ask...

Three things which make a great website

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I firmly believe that every adviser looking for new clients need a website. I know some people will disagree with me, but it’s just common sense that a website improves the effectiveness of all other tactics. Take referrals and recommendations (without doubt the best way to attract new clients) for example. A proportion of prospects...

Common marketing scams and what to do if you’re approached

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Over the years, we’ve had several clients who have come across marketing or website scams of some form or another. For some reason, the advisory marketplace appears to be targeted a little more than other sectors we work with. Thankfully, scams and other less-than-desirable approaches are fairly easy to spot if you know what you’re...

Putting the brakes on pension contributions

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Over the last 12 years (since A-day) there has only been one tax year – 2013/14 – where there haven’t been changes to the tax rules on pensions. Every other year, the amount individuals can put in and/or take out of pensions to get tax relief advantages have changed. For the first half of this...

Advice on Trial

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In recent years it has often felt that advice has been on trial; that there is a “gap” somewhere. So, what exactly is the “advice gap”, where does it come from, and how do we close it? In 2012, it seemed every trade press article predicted the demise of advice, with consumers sure to baulk...

Should you include members of your team on your website?

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I was chatting with an adviser recently about their new website. The conversation turned to whether she should include members of her team on the site. The adviser confided in me that she was nervous about adding her team to the website, as she thought it might give recruiters an opportunity to poach staff. I...

LTA check at 75 likely to have bigger impact on clients

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The number of people still in drawdown at age 75 has historically been fairly low. Before the pension freedoms the majority of retirees bought an annuity. And few of those who did choose drawdown encountered any issues with the lifetime allowance given the sizeable lifetime allowances we have seen over the last decade, and the...

Happy birthday to the pension freedoms!

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As we enter spring and reach the second birthday of the pension freedoms we can expect a proliferation of stories and analysis on the first two years and how people think it’s all gone. We had some up-to-date figures from HMRC at the end of January and another version from the FCA at the beginning...

Revealed: The KPIs you should measure, but probably don’t

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We love a KPI in our profession. Some are more useful than others, but knowing your numbers is fundamental to running a successful business. What those numbers are will differ from firm to firm. In my experience though, (and I used to be guilty of this too) very few businesses monitor them as closely as...