“Advisers among firms hit with extra £24m FSCS levy”

Jan 17, 2018 | Financial Services

Tags: Financial Services Compensation Scheme, SIPP
An independent (financial adviser’s) view

There are a couple more things for we advisers to moan about as the New Year rapidly ages. The snappily-named ‘MIFID 2’ is a piece of Euro-legislation which, amongst other things, means that when we see you each year, we have to tell you a) how much you’re paying us and everyone else and, b) write a report to tell you why we’re not changing anything, assuming we decide everything’s going swimmingly.

The other is that we have to cough up a share of the extra £24m  needed  to compensate clients of ‘advisers’ who’ve recommended unregulated funds which have disapparated into the ether. All good causes, I’m sure. But don’t expect those of us at the less-expensive end of the adviser fee scale to get any cheaper.

Read more here

 

“Reeves backs down on plans to cut ISA limit”

“Reeves backs down on plans to cut ISA limit”

May 21, 2025 |

So it looks as though Cash ISAs are safe for the moment (FTM – is that a thing?) Rachel has apparently ‘bowed to pressure’ from the banks and building societies and decided not to reduce the allowance to £4,000 for cash and to keep the £20,000 parity with Stocks and Shares ISAs. Bowed also to common sense, I’d say.

“Two thirds of adults are worried about care costs in later life”

“Two thirds of adults are worried about care costs in later life”

May 20, 2025 |

A dichotomy/dilemma here. Two thirds of adults are probably right to be worried about the cost of care, which is huge and getting more so. Many of those currently worrying will have had first-hand experience with their own parents, which will have focused their minds on their own possible future.

“Why most won’t need to worry about IHT on pensions”

“Why most won’t need to worry about IHT on pensions”

May 15, 2025 |

Many a government has made the point that only a minority will be affected by this or that tax change or tinker. It is, however, both perception and aspiration which are important, and they are what makes IHT the ‘most hated’ of all taxes – along with all the others, of course.

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