The Morning Briefing: Policy planning tool launches for advisers and Why do advisers turn clients away?
Good morning and welcome to your Morning Briefing for Wednesday 4 October 2023. To get this in your inbox every morning click here.
Policy planning tool launches for advisers
Advisers will be able to keep an eye on regulatory and policy developments coming down the line with the launch of a policy planning tool.
‘Tracker’ has been developed by financial services consultancy firm the Lang Cat and will already have more than 100 policy issues available.
The tool is designed to help advice firms prioritise what is important to them and their customers.
Why do advisers turn clients away?
Advisers often say that without their clients, they would not have a business. But that does not mean advisers are obliged to work with every potential client that comes through the door. There may be times when a potential client is not the right fit for an adviser – so what are some the reasons an adviser might turn them away?
Novia assets dip despite increase in customer numbers
Novia Financial suffered a drop in its assets under administration (AUA) in 2022, despite growing its customer base.
The adviser-focused platform business reported that its AUA reduced by 2.4% to £8.7bn in 2022.
It put down the reduction to a “challenging year for investors, following global market volatility”.
Quote Of The Day
Although the State Pension looks set to be boosted by a second significant increase it is unlikely it will provide more than a very basic income. This year’s data also uncovers the financial disadvantage that single pensioners face as they tackle bills, repairs and everyday costs on one income.
– Stephen Lowe, group communications director at retirement specialist Just Group, comments on data about single pensioners ahead of State Pension day.
Stat Attack
UK M&A activity is set to improve over the next 12 months after having hit ‘rock bottom’ according to CIL’s investment 360 index.
84%
Dealmakers said that activity is currently low
6%
believe the next phase will see a ‘significant’ increase
72%
expect a ‘moderate’ increase in activity
66%
said the assets currently available to invest in are of average quality
52%
see the current M&A market as favourable to buyers.
Source: Investment 360 Index
In Other News
Nuveen, a global asset manager with over $1.1 trillion in assets under management, has appointed Kyrylo Sukhanenko as Managing Director, Head of UK Insurance. Based in London, he will focus on the growth of Nuveen’s UK insurance client segment and contribute to product development, client strategy, and marketing. Kyrylo will report to Brian Schaper, Managing Director, Business Development – Global Client Group.
Kyrylo joins Nuveen with 13 years of experience, previously working at BlackRock, where he served as Co-Head of Business Development for the UK insurance business, specializing in investment and risk solutions for insurers. Prior to that, he worked as an Analyst in Merrill Lynch’s Emerging Market Equity sales team.
Brightwell, a service provider for defined benefit pension schemes and the primary service provider for the BT Pension Scheme, has announced the graduation of its first group of trainees.Brightwell operates from its Chesterfield office and handles member administration services for approximately 270,000 members of the BT Pension Scheme. This includes managing member inquiries, communications, and pension payments.
The Brightwell Pensions Academy was established in 2022, offering a blended learning program aimed at developing early careers in the pensions industry.
New research conducted by Shojin, a FCA-regulated investment platform, surveyed 964 UK investors with portfolios valued at over £10,000. The findings reveal that 57% of respondents are optimistic that the most challenging economic period of the past 18 months has come to an end. Additionally, nearly half (48%) of the investors reported that their investments have performed well, even in the face of economic headwinds, while only 12% expressed dissatisfaction with their investment performance. Looking ahead, a majority of 62% indicated their intention to adopt a low-risk investment strategy over the next 12 months.
From Elsewhere
Cost of national debt hits 20-year high (BBC)
Why a rout in government bonds is worrying (Reuters)
EU Formally Opens Anti-Subsidies Probe Into EVs Made in China (Bloomberg)
Did You See?
The Money Marketing editorial team’s latest podcast recaps all the major stories they covered in September, offering insightful analysis on topics like market trends and regulation. Listen now.
