Tax Insights: Puma’s David Kaye on VCT 2022/23
For many advisors and their clients, the 2022/23 tax year was a difficult one. Global ...
Tech Layoffs: Hidden Silver Lining Discovered
Recent changes in the technology sector have shifted the focus to profitability and sustainability. Investment manager Kevin Kruczzynski suggests that while current incumbents may face compressed margins, they are presented with new opportunities for cost efficiency and increased earnings. Meanwhile, new entrants can benefit from a more judicious investment landscape. In the end, companies which can manage cost control and ROI have the potential to deliver significant rewards, as well as innovation and improved customer experience.
PIMFA Demands FSCS Levy Compensation Reevaluation
The Financial Services Compensation Scheme (FSCS) recently released their announcement that the levy forecast for 2023/24 will be reduced, and their approach to protecting customers and ensuring sector stability has been widely praised by the wealth management sector's leading trade body. This reduction, which is set to bring cost savings for businesses and increased opportunities for innovation, serves as evidence of the FSCS' commitment to responsible regulation and the safety of customers' wealth. Furthermore, the trade body is encouraging continued reductions in the FSCS levy in order to provide a healthier financial environment for customers and firms alike.
Intense Customer Focus Powers AJ Bell’s Growth
AJ Bell has reported an impressive set of results for the six months ended 31 March 2023, with revenue increasing 37% and PBT rising 61%. Customer growth and product inflows were up 13% and assets under management increased 41%. CEO Andy Bell stated their priority is to provide value for money, sound advice and innovative products. AJ Bell is also investing heavily in technology and customer services to keep up with rapid changes. These impressive results demonstrate AJ Bell's success in becoming a leading investment provider and hint at further success to come in the near future.
SmartrFit Merges with One Mortgage System
Legal & General Mortgage Services is proud to reveal that its mortgage research and sourcing ...
ESG, AI, and Crypto: FCA’s Top Priorities
With these developments, consumer confidence in the financial industry will only deepen. The Financial Conduct Authority (FCA) is focused on protecting consumers in the financial industry, with a particular emphasis on three areas: Environmental, Social and Governance (ESG), Artificial Intelligence (AI) and Crypto Assets. The FCA is working to ensure the safe use of ESG, communicating the implications of AI and showing due diligence in the regulation of crypto asset trading. All these measures are in place to build consumer trust and confidence in the financial landscape.
FCA: Struggling Borrowers Receive £47m Relief
The FCA in the UK has taken strong action against nearly 100 financial lenders for their treatment of borrowers with financial difficulty. Issues encompassed lack of individual problem-solving, disregard of borrowers showing signs of vulnerability, and failure to give money advice or debt solutions. To mitigate these concerns, the FCA has issued numerous sets of directions to firms and put forth guidance for those found wanting. These measures are intended to protect consumers from exploitation, promote fairness, and put into place a better standard of practices. In response, this action has been received favourably by the public and businesses alike. If the FCA continues this level of diligence, consumers can be assured of safer and more responsible access to finance.
Record £883M Retail Protection Payouts in 2022
It’s a relief to know that Legal & General is continuing to offer the financial ...
Mastering Finances: Eradicating Vulnerability Through Education
The findings of a recent study on the financial services market offer a grim outlook ...
Fund Managers: Unveiling Their Thoughts
At the close of 2022, asset managers faced a tumultuous market environment with a great deal of uncertainty and external pressures. Investors shifted away from traditional markets to diversify their portfolios, opting for safe-haven assets like gold, cash, and alternative asset classes. Domestic businesses outperformed as investors kept their capital closer to home. Although market conditions remain complex and challenging, analysts have taken an optimistic stance, offering hope that investors with the right focus and knowledge may still make a good return.