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st May 2021 3:00 pm
The first time I heard the word “Bitcoin” was in 2016, after I asked a classmate from my Chinese course the slightly intrusive question “What do you do for a living?”.
He replied he was buying and selling “Bitcoins”, an answer I found puzzling, as I had absolutely no idea about cryptocurrencies. After further explanation, I understood it was a digital currency, the value of which is constantly fluctuating, but you cannot use it to purchase goods or services.
I have always been a sceptical person, and so quite naturally deemed Bitcoin as highly suspicious. It really sounded like a scam to me; it could not be that easy to earn money.
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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FE fundinfo acquires CashCalc
By Jean-Baptiste Andrieux 13
Fund data and technology company FE fundinfo has acquired cashflow planning provider CashCalc.
CashCalc will still be offered as a stand-alone product while FE fundinfo will invest in the integration between these extended sets of tools, including platform and back-office integrations.
FE fundinfo said cashflow was a “natural extension” of the fund selection process.
It added that this acquisition reflects FE fundinfo’s “Better Connected, Better Informed” ethos, as the combination of CashCalc, FE Analytics and FE Investments will enable a more seamless customer journey, leading to better advice outcomes for advisers and their clients.
13
th May 2021 8:30 am
Good morning and welcome to your Morning Briefing for Thursday 13 May, 2021. To get this in your inbox every morning click here.
FSCS levy
Every year advisers brace themselves for how much they will have to contribute to the Financial Services Compensation Scheme (FSCS) levy. In January, the overall levy for 2021/22 was forecasted to be an eye-watering £1.04bn.
This represented a rise of almost 50% on the previous year. Today that figure has been revised down to £833m.
It might be £206m lower than the forecast at the beginning of the year, but it’s still £133m higher than the 2020/21 levy.
27
th April 2021 9:21 am
Good morning and welcome to your Morning Briefing for Tuesday, 27 April, 2021. To get this in your inbox every morning click here.
Firms face ‘last chance’ for FCA deadline
Financial firms who did not meet the Financial Conduct Authority’s directory persons deadline at the end of March are being urged to heed the final call for submissions.
Last week, the regulator emailed some 2,800 consumer-facing firms who did not submit the required information about certified staff.
FE fundinfo data platforms expand reach
Fund data and information platforms fundinfo and etfinfo provided by FE fundinfo will now be available to investors in Cyprus, the Czech Republic, Greece, Hungary, Iceland and Malta.