It looks like the gradual clampdown on pension allownances is bringing more money into government coffers.
The tax raised by the lifetime allowance has risen 2000 per cent from £5m in 2006/07 to £102m in 2016/17 though it is the money raised by the annual allowance which is contributing more to the coffers. Annual allowance breaches have tripled in a year to £561m in 2016/2017 as Money Marketing reports.
Royal London’s Steve Webb says that a choppy stock market and claims management companies may drive defined benefit transfer complaints.
Quilter Investors chief Paul Simpson says that the firm is not here to sell funds on performance in this Money Marketing profile.
Citizens Advice has launched a super complaint against the mortgage industry to force more action from the FCA on behalf of those on standard variable rates.
Editor-in-Chief at Financial Adviser Emma Ann Hughes says that the FCA’s register is like dating app Tinder. She suggests it isn’t delivering the depth of information required by anyone seeking a financial adviser. I do think the inclusion of firms the public shouldn’t deal with is worthy of some support though.
David Jane of Miton sees opportunity in post-truth financial markets where managers can find opportunities beneath the noise.
Chase de Vere tells advisers not to use Aegon for new clients as a result of replatforming problems.
Citywire quotes Matt Zarb-Cousin a former spokesman for Jeremy Corbyn saying that Labour’s Brexit position is strategic and that they can’t stop Brexit from Opposition.
