There doesn’t appear to be a lot of financial services news about. Perhaps eyes were on a certain football match in recent days.
There is however a bit of mini media industry springing up working on what Labour might do tax wise.
The Telegraph’s money editor Sam Brodbeck suggests tht Neil Kinnock has let the cat out the bag – Labour is coming for this tax, that being CGT. (I think it probably sounds about right because Labour does need money from somewhere with the rather obvious proviso that Lord Kinnock is not deciding this!)
This story in the Express has caused huge social media upheaval implying that Labour might means-test the state pension.
"Labour's top tax adviser has urged PM Keir Starmer to make better off pensioners "give up their full state pension" so their money can be directed towards younger families instead."
The suggestion came from Sir Edward Troup, a former HMRC head who chancellor Rachel Reeves appointed to fight tax avoidance in April. In an interview with LBC, Sir Edward called for pensioners to "contribute possibly more" than Britons of working age in some circumstances.
Must say I am not sure this in on the cards but quite possible IFAs might get the odd query. Some pension experts and advisers on social media are, to say the least, taking a dim view of the story.
Retirees with a health condition should turn their backs on drawdown and choose annuities, according to Megan Jenkins, partner and financial planner at Saltus as FTAdviser reports.
Without a labelling system and anti-greenwashing rules “it is very hard for investors to make an informed decision”, Evelyn Partners chief asset management officer Edward Park has told Money Marketing.
He also believes the sustainability disclosure regime will be a multi-year journey.
A personal view - I get a sense that it may be recent mixed signals from the Treasury regarding a range of green initiatives that may have led to at least some regulatory confusion.
That said, the labelling regime was always breaking new ground. It’s pretty clear most advisers would like clarity without too much prescription certainly in terms of pushing them to push clients towards green investment.
The fastest growing advice and planning firms are considering client behaviours and values when defining their ideal target clients, according to Dimensional Fund Advisors regional director Elliott Poole as Professional Adviser reports.
SJP eyes private assets boom for its multi-asset funds. I still have a question - do clients understand?
