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Avoid ICO Traps: Fresh SARs Advice for Employers

The Information Commissioner's Office (ICO) has released guidance to help businesses and employers properly respond to Subject Access Requests (SARs). SARs allow individuals to request personal information from organizations and the guidance simplifies the process of understanding and responding to them. It includes information about timeframes, what information must be sent, and how to handle requests for large amounts of data. It also advises to provide more context than just the data requested and to inform the requester of any third parties it shares the data with. Understanding and adhering to these rules will help organizations protect themselves from potential non-compliance, while also enabling effective data sharing.

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FCA Unveils Perils for Newbie Investors

Young investors now view investing as a relationship, seeing the importance of investing and doing research to ensure they are making the best decisions. They must research potential investments including the rates of return, security, and location/timing before proceeding. Technology and increasing educational resources make it easier for anyone to become knowledgeable about investments. Both investments and relationships require research and dedication to make them last long-term.

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“Unlocking £883m Protection Claims Payouts”

In 2022, Legal & General paid out a total of £883m in claims across its retail protection products. This included 15,433 life insurance, 1,463 income protection and 1,098 critical/terminal illness payments to total of 17,768 claimants. This proof of their commitment to providing protection when needed most was bolstered by analytics showing that 88% of the income protection claims submitted in the period were paid out, with 44% for involuntary redundancy and 28% for cancer. The average payment time for a claim is nine days. This demonstrates Legal & General's focus on safeguarding customers' futures and giving them access to the protection they are entitled to.

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Meet Fundment CEO Ola Abdul: MMI Leeds 2023

In our conversation with the CEO of Fundment, Ola Abdul, we explored the future of advising platforms and the importance of quality. Ola emphasized the need for both consistency and innovation, as well as the need for variety in order to distinguish a platform from competitors. The upcoming Leeds 2023 MMTV Platforms serves as a prime example of how to successfully innovate, while still providing quality customer service. This influx of new technology also provides the opportunity to create better tailored user experiences for customers, making it an exciting time for the advising platform industry.

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Boosting Access to ESG Data: PIMFA Reveals

Despite the best intentions, companies are struggling to make sense of the ESG data landscape. This is making it hard for companies to keep up with increasing regulations, customer demands, and a rapidly evolving digital world. In order to successfully tackle this challenge and stand out from competitors, companies must invest in their skillset and resources to gain a thorough understanding of the data sources, evaluate accuracy and reliability, and apply this knowledge to their portfolios and advice to customers. Doing this will create successful ESG strategies and enable the best outcomes for customers.

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Critically Ill TV Host: Humanize Insurance Advice

As a TV presenter diagnosed with terminal cancer, I urge everyone to take the necessary steps to protect their families by investing in the right kind of coverage. Critical illness cover is one option which pays out in cases of serious or terminal illness, such as my own. Talking to friends or family about their experiences with protection can help spread awareness and put individuals in a position to protect themselves if anything should happen. The peace of mind knowing you and your loved ones are taken care of is invaluable, so take the time to consider whether CI or another type of coverage is the right decision for you.

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Boost ESG Data Access with Expert Guidance

A survey conducted by the Personal Investment Management and Financial Advice Association (PIMFA) shows that over one-third of wealth managers and advisers are asking for support in accessing ESG investment data. This is as they realise that such data can provide better risk management, more clarity on investments and help give them a competitive edge. Various tools such as compliance, data management and performance assessment are being utilized by advisers and wealth managers to identify the right ESG investments for clients. With changes in consumer demand and high potential returns, accessing ESG investing and staying up to date is becoming an integral part of doing business.

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Financial Pros: 35% Battle Job Exhaustion

O.C. Tanner's 2023 Global Culture Report indicates that 35% of financial services professionals feel extremely exhausted and 27% are emotionally drained by their workload. Deloitte conducted a study revealing that these professionals are at a high risk of burnout due to the intense pressure to deliver results. Business leaders must take action to provide balance between work and leisure, and recognition for employees' hard work, in order to inspire productivity and prevent burnout.

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