Category Archives: Bankers

“Why do we see pensions like that?” Assumptions behind the FAB Index


This week we published the FAB index (FABI) which shows the way we see the state of this nation’s defined benefit pensions. “We” means First Actuarial, I work for First Actuarial. We want to paint a picture of the pensions … Continue reading

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PENSIONS TRANSPARENCY REACHES PARLIAMENT


Lux in tenebris   The roof leaks, the walls are crumbling but the House of Commons is still the seat of British Government. Andy Agethangelou has used the momentum he and his team have built up to set up a Transparency … Continue reading

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Brexit- good for people’s pensions. Pensions -worse for Brexit Britain.


Contrary to the received idea, Brexit and its aftershock, the Bank of England’s QE statement , has been good for the pension in people’s pocket. Ok, we don’t have pensions in our pocket- but if we’re simply valuing our pension … Continue reading

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Customer intolerance; why it’s tough for banks to be relevant.


  A couple of days ago I wrote about Barclays moving my credit card from i24 to their new “infinite” card. I’ve since had a detailed letter explaining what’s changed. I’m moving from MasterCard to Visa My annual membership cost … Continue reading

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What rights do banking customers still have?


I received a letter out of the blue from Scott Miller, Head of Customer Services at Barclays. It’s a pro-forma and it included a new credit card, if it hadn’t, I’d have not read it. Not so great I thought, … Continue reading

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“Why does the garbage man not understand his pension”- Tom Hibbard- KAS Bank


“I speak to everyone in the same way, whether he is the garbage man or the president of the university” – Albert Einstein   This quote has really resonated with me of late as I find myself reading more and … Continue reading

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Show me the money!


My magic money machine Last week I (twice) had the satisfying experience of lugging my piggy bank down to Metro Bank and entering the contents into the Magic Money Machine. My cash was exchanged for a chit (see below) which … Continue reading

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What do we mean by Independent Financial Education?


This is an article that my firm First Actuarial have been sending to their clients. It’s so clear and simple, I thought I’d share it. Of course we’ll be sending it to Andy Haldane at the Bank of England! What … Continue reading

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Dad’s army could’ve done a better job!


Until quite recently, the main sources of financial advice for small businesses were the accountant and the bank manager. The BOE’s Andy Haldane’s comments about the complexity of pensions look back to a day when these intermediaries were trusted “The … Continue reading

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What’s the point of banks?


News that the HSBC is to slash it’s costs by $5bn. spells trouble for 6,000 British workers and their families. It will probably be seen as good news to the shareholders of the bank but what of the customers? There was … Continue reading

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