This week’s most eye-opening article from within financial services is arguably not a news story but something of an inside track on a previous story.
Writing in Money Marketing, Mark Dampier relates much of what went on behind the scenes from his point of view during the Neil Woodford media frenzy. He has harsh words for some journalistic practices to say the least.
Financial data company FE Fundinfo has bought AdviserAsset, which provides financial planning sofware, for an undisclosed sum, as FTAdviser reports.
UK national debt is on course to treble over the next half a century according to the Office for Budget Responsibility as the BBC reports.
The pressures include an ageing population, climate change, and rising geopolitical tensions and the OBR says that without extra tax revenues or a return to post-war productivity levels, the public finances are not sustainable and "something has got to give."
Some economists have criticised the report for being too bleak.
A total of 24.6 million people have never accessed financial advice according to St James’s Place extrapolating from a survey of 12,000 people.
The survey also suggests that their perception of barriers to financial advice have deterred 11m UK adults from seeking support as CityAM reports.
M&G CEO Andrea Rossi, speaking to New Model Adviser, says there is no real need to keep its platform and ‘so it’s a sale or a wind-down’.
Openwork has moved its DB transfers service to a central function much to the frustration of some of its advisers, as New Model Adviser reports.
