It does feel as if there are two strands of stories this week, as there have been since the start of the Trump Presidency.
One strand involves what is happening in the White House, where there is much talk that President Trump wants to sack the chair of the Federal Reserve President Jerome Powell.
The FT considers the consequences for Treasuries and global markets here. It would be, to say the least, quite disruptive.
This weekend, the FT also featured an opinion piece about the consequences of the US leaving the IMF. Again, it would be profound and another blow to the dollar as the world’s reserve currency.
In the second strand (more local to the UK), Peter Hargreaves is returning to the board of Hargreaves Lansdown, following last year’s £5.4bn sale to a group of private equity firms including CVC Capital Partners.
Expect change!
HMRC will have to significantly increase the number of criminal investigations it undertakes to meet targets set in the Spring Statement, writes lawyer and ex-tax inspector John Hood, in Professional Adviser.
The following sounds like excellent news.
Pension finding platform, Raindrop has recovered £500mn in savings from almost 45,000 lost pension pots since launch as FTAdviser reports.
It can be quite difficult to understand where the FCA is in terms of regulatory work. It will complete market reviews, then demand action, but at times the follow up may feel as if it isn’t happening.
A view from intermediary Isio suggests differently.
It says that the Financial Conduct Authority may use regulatory tools such as sanctions and voluntary requirements if firms fail to adequately take steps to ensure they can justify their ongoing fees. Isio strategic adviser Ritchie Thomson warns in Money Marketing.
Rob Burdett, head of multi-manager at Nedgroup Investments considers whether to hold gold or not, looking at the history of the asset and writing in Money Marketing.
He says: “We currently hold a position in gold via an ETF and plan to maintain it, thanks to the favourable supply-demand dynamics, the diversification it offers and its potential to offset the kinds of geopolitical and inflation risks that could weigh on other assets in the portfolio.”
This reads like a good series in Professional Adviser.
Jacqueline Berry starts My Care Consultant’s regular series by looking at common causes of significant financial harm that can arise when people miss out on care advice.
Have to say this is rather fascinating from a Scottish IFA who is giving his clients a say on the sale of his firm.
Simon Glazier from Stewardship Wealth has recently introduced a clause into its client agreement saying it will only sell the business if its clients approve of the takeover.
Payments of £70 due to a million low earners in net-pay pension schemes have been delayed by a year because of IT and administration delays, Corporate Adviser reports.
Far from optimal.
