No doubt the second biggest event of the summer has been the release of the FCA Asset Management Study, albeit that it is a long way behind the start of the Tour De France - but they have something in common.
Having just had my car serviced and being presented with a bill for £300, I was further alarmed to be told by the 'Service Specialist' (another name for salesman) that I should consider replacing both of my front tyres – at a special offer cost of only £600. Cheap day out!
First published in Pension Funds Online on 30 June 2016.
Colin Musgreaves tackles the issues of transparency within the investment industry.
I was recently recommended to watch the Wolf of Wall Street by a partner in a major city law firm, who assured me I would enjoy it.
He was right, what a fantastic film. When it was over, in a moment of reflection, it made me think about the parallels with our industry, and, if it was based on a true story, how things are so very different for retail and institutional investors in the UK.
To read the blog in full CLICK HERE
Having forced my 18yr old son to invest into an ISA last year, I know how hard it is to get youngsters to save.
So I think the Chancellors news yesterday on the new LISA options is fantastic news - particularly the option for first house deposit. Maybe I can get junior to save more next year, even though his plan is to bump me into a small bungalow in 10 years time and take over the family home.
We have been busy helping the Public Sector recently, some of which operate with centralised telephone systems, so it was no surprise to me when I received a 'no caller ID' call last week.Unfortunately it turned out to be a mysterious call centre offering me a free pension review. Even though they were probably not authorised, 'Dave' went on to tell me that my current personal pension was seriously underperforming as all of the major providers had invested too much of my money in Blue Chip FTSE companies and were under investigation, with my savings at risk.
Topics: Defined Contribution
Colin Musgreaves raises concerns over the complexities of new regulations and asks, who will explain?
Thanks to a 22 year old boy racer not looking where he was going, I am the proud but involuntary owner of a brand new car.
For the past month I have had hours of fun randomly pressing buttons, but yesterday, when opening a previously unopened compartment on the passenger side, I discovered an object of horror and mystery in a black leather case, an instruction manual!
The FCA rules on Workplace Pension Plan may not yet be with us but with a limited number of working days left until the April 6, the date the rules become operative, time is running out for DC providers to choose their flavour of governance before the ice melts.
The rules will apply to all insurers running books of Workplace Pension Plans (WPPs). WPPs include all Group Personal Pension plans and Stakeholder schemes where an employer makes direct payments to an insurer, for more than two employees. From April, these insurers will have to create a committee, staffed predominantly by independents, to sit within their corporate structure, charged with checking to see if the members of that insurer’s WPPs get value for money.