Tag Archives: FCA

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 , , , , , , , , | 1 Comment

Trial by twitter’s fine by me!


An IFA withdraws its transfer service complaining it’s the victim of “trial by twitter”. Accountability is something that falls hard on adviser’s shoulders. Because we are in the business of longer term investment, the outcomes of our advice will typically … Continue reading

Posted in pensions, twitter | Tagged , , , , , , , | 4 Comments

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

The “integrated risk management framework” must include impact on members.


There are certain events where the police anticipate trouble and turn up in anticipation. There are certain traffic black spots where speed cameras are put in to reduce the risk of accidents and there are some occasions when regulators could … Continue reading

Posted in pensions | Tagged , , , , | 2 Comments

“Probing” IFAs is not enough; we need simpler more transparent transfers.


  Allegations of “mis-selling” against IFAs are premature and unsubstantiated. My eye was caught last night by a linked in post by Andrew Warwick-Thompson, formerly of the Pensions Regulator. Here we go again. The personal pensions miss-selling scandal all over … Continue reading

Posted in Blogging, BSPS, Change, FCA, pensions | Tagged , , , , , , , , , | 3 Comments

It’s not just IFAs that should be livid!


Here is the note I wrote when I read New Model Advisers report On why FSCS cannot determine its current levy (uncertainty over Strand Capital) On why FSCS has to unravel its past compensation (uncertainty over Arch Cru) Today (Jan … Continue reading

Posted in accountants, advice gap, FCA, governance, pensions | Tagged , , , , , , | Leave a comment

Tell us what value is and we’ll measure it!


  Donny Hay , a client Director at Pitman’s Trustees, argues cogently in this week’s Pension Expert- about recent work by Chris Sier and colleagues the cost assessment template focuses on the numbers, but says nothing about whether those costs represent … Continue reading

Posted in pensions | Tagged , , , , , , | 3 Comments

Target pensions – freedom from freedoms


  Last week I ran a couple of meetings of the Friends of CDC, a loose affiliation of pension people with a view that CDC can offer a solution to some of the intractable problems people face in retirement. Let’s start … Continue reading

Posted in Blogging, CDC, pensions | Tagged , , , , , , | 2 Comments

Frank Field and the “two worlds” of pensions.


    On Thursday 13th December the Workplace and Pensions Select Committee took evidence from a variety of people with an interest in the choices members have to take as part of Time to Choose, but in the context of  the … Continue reading

Posted in BSPS, pensions | Tagged , , , , , , | 4 Comments

Financial Regulators aren’t carved out of stone – they need a merry Christmas too!


Financial Regulation seems a brutal business, impersonal and intimidating. Necessarily, a degree of formality is needed in one’s conduct on both sides.  I would not feel comfortable at the FCA’s Christmas party nor they at mine. But that does not … Continue reading

Posted in advice gap, christmas, FCA, pensions | Tagged , , , | 1 Comment