“FSCS to accept claims against liquidated Czech Republic-based advice firm”

Jan 13, 2022 | Financial Services

An independent (financial adviser’s) view

Two related stories about our compensation culture, as in financial services, it seems, ‘caveat emptor’ does no longer exists. You can bet your pension money on the dodgiest of dodgy unregulated investments via a firm which, if you’d done any research, you’d find was registered somewhere potentially dodgy. If it all goes belly up, the rest of the (not dodgy) financial world will be asked/made to club together to compensate you. As a result, the Financial Services Compensation scheme is looking for funding of £95.5m to cover its management expenses this year. In the words of The Stranglers (kids etc.), “Something Better Change”. Bitter and twisted? Moi?

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“Record year for annuity sales driven by advisers”

“Record year for annuity sales driven by advisers”

I was asked this week whether annuities are now ‘a good investment’. They’ve been recommended very rarely in recent years, since ‘pension freedoms’ allowed pretty much unlimited drawdown on pension funds and anything left to be passed on to beneficiaries free of Inheritance Tax.