Category Archives: advice gap

IFAs and the defined benefit promise

  This article explores the relationship between IFAs and defined” benefit schemes, one that has historically been uneasy. It argues that the polarisation of opinion between IFAs who see pensions as “pots” of wealth, and those who regard them as a … Continue reading

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My call for an end to contingent fees on DB pension transfers

  Calls to keep contingent pricing fall on my deaf ears. I champion the pension rights of those with low incomes and I champion the rights of those likely to get lower pensions (women). I don’t champion the right of … Continue reading

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There is only so much pension risk, an ordinary person can take.

This diagram shows us the points where we can do well in our “journey” as DC investors. It’s a useful starting point in working out how we create value for money for ourselves. This article shows that how much we … Continue reading

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The CMA and IDWG are looking for the right grubs under the wrong stones.

The Competition and Markets Authority has produced the first of a series of working papers (only 90 pages) looking at the buy-side of institutional intermediation (e.g. what happens between buying an asset and the return the customer gets). “The evidence reviewed … Continue reading

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The DWP sticks to its guns on disclosure

Disclosure of costs, charges and investments in DC occupational pensions Government Response The DWP have fulfilled on their promise to provide a disclosure framework for occupational  DC pension schemes. From April 2019, anyone in a DC workplace pension will be … Continue reading

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HMRC and FCA complicit in the democratisation of villainy.

If the FCA want to get to grips with the problem of contingent (conditional) charging, they had better have a look at the taxation of advice and make changes in the Finance Act 2018 to the way we tax advice. First … Continue reading

Posted in accountants, advice gap, dc pensions, pensions | Tagged , , , , , , , , | 12 Comments

Contingent charging will sink DB transfers

IFAs who persist in conveyor belt transfers based on contingent charging will kill the transfer market.   Why people are taking a punt if they pay on the never-never. The FCA have made it clear that to transfer out of … Continue reading

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What are Chinese walls made of ?

Darren Jefferson asks just how robust are these Chinese Walls   I made a point of counting how many times during a typical week, the term ‘Chinese Walls’ was used by a variety of advisers. I got to eight so … Continue reading

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The FCA can excel; the “non-workplace pension” paper’s a model of its kind

Henry Tapper and Pension PlayPen response to FCA’s paper DP18/1 Effective competition in non-workplace pensions This is the response of Henry Tapper and the Pension PlayPen. It is not a response on behalf of any other organisation that Henry Tapper … Continue reading

Posted in advice gap, BSPS, dc pensions, drawdown, Henry Tapper blog, pensions, PLSA, Retail Distribution Review, Retirement | Tagged , , , , , , , | 1 Comment

How certain are my client’s state benefits?

The old adage “there’s nothing certain except death and taxes”, sadly did not include pensions, not even the state pension. Behavioural science suggests that the further we look into the future , the more we crave the security of certainty. … Continue reading

Posted in accountants, actuaries, advice gap, pensions | Tagged , , , , , | 3 Comments