June - 2016

for INDIVIDUAL, INFORMED & INDEPENDENT FINANCIAL ADVICE

Identifying the needs for clients of different generations

People love to categorise, effectively putting items into neat boxes. This in turn enables the processor of these items to systematically deal with large quantities of whatever might be in a particular box, quickly and effectively by using the same set of rules and methodologies to deal with its entire contents in one go. In simplistic terms, a computer package will employ a similar course of action to process vast quantities of data efficiently. However, in most cases it wi

Changing the investment mind set of Millennials

A major global investment survey of Millennials, individuals aged 18-34, has proven this generation to be conservative when it comes to saving for the future and investing their hard earned cash. The largest asset in the average Millennial’s allocation in 2016 is cash savings. With this in mind, it’s no surprise that there is such a land grab by banks and building societies to incentivise this generation to become customers. The Millennial’s attitude to investment and risk ca

The Regulator Launches a Robo-advice Unit

In a bid to speed up innovation across the financial advice sector, last week the Financial Conduct Authority (FCA) launched an ‘advice unit’ to help advisers quicken the process of bringing robo-advice to market. To be considered eligible, advice firms will need to produce a clear proposal outlining the consumer journey, and how regulations may apply as well as prove that the offering will Provide: accessible low cost financial advice to unserved or underserved consumers Off

Establishing appropriate, realistic and manageable goals for retirement

Research is being commissioned by financial planning firms in a bid to gauge what level of planning is being undertaken by individuals in preparation for retirement. This research is being undertaken with good reason as the results are proving that consumers are wildly under prepared for this milestone. One survey revealed that the majority of retirement plans are done “in people’s heads”! Surprisingly, this trend is more prevalent among high earners - those earning more th

The Introduction of a Pension Advice Allowance

The Government is consulting on the introduction of a Pension Advice Allowance. If agreed, the allowance will grant pension savers the right to withdraw up to £500 tax free from their defined contribution pension up to 10 years early and redeem this against the cost of financial advice. The raft of changes relating to pensions that have taken place in recent years has understandably created confusion among consumers. The introduction of pension freedom and auto-enrolment alon

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