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I was reminded of the need to “sell the dream” a few weeks ago after hearing chancellor Jeremy Hunt’s Autumn Statement, in which he claimed his plans to increase the amount pension funds invest in unlisted shares could “provide an additional £1,000 a year in pension income for the average earner”.
According to Next Wealth’s excellent Financial Advice Business Benchmarks report, published in October, the average cost of ongoing advice across the wider industry is now 63.7 basis points (bps) — down 4.7bps compared to last year.
New research commissioned by Schroders in conjunction with Ad Lucem in Q3 has some interesting findings for advisers who may be considering a strategy for retaining and attracting female clients.
Last month, Brooks Macdonald announced 55 redundancies. Although it is selling high volumes of MPS at 20bps, it’s making nowhere near as much as when it sold BPS at 70–80bps. This has had a huge impact on revenues. There are fears this could be “just the tip of the iceberg in the DFM universe”.
AI has been widely reported as a “game changer” for many areas of life. Could it support happiness in retirement? Most of us are still in the foothills of this brave new world, but I thought I’d give it a quick test.