Latest Blogs
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James Jones-Tinsley: Aiming for an advice-guidance sweetspot
As Nikhil Rathi is reappointed as CEO of the Financial Conduct Authority (FCA) for another five years, the FCA has set out its strategic direction for 2025/26, with important implications for financial advisers.
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Lisa Webster: Maximising protected tax-free cash
While 2024 ended with a lot of doom and gloom in the pension world following the big announcement on inheritance tax (IHT), there was some good news that may have slipped under the radar of some advisers.
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Tilley: Is the age 75 trigger date now irrelevant?
Age 75 has been an important milestone in pension rules since A day in 2006. It was the latest age at which a compulsory annuity purchase was required (prior to Pensions Freedoms). It's arguably it’s long been an arbitrary line in the sand, noting that life expectancy has been on the increase for the last 20 years, but this trigger age has remained unchanged.
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James Jones-Tinsley: Guided Retirement Duty could be game changer
During May, the Pensions Policy Institute (PPI), sponsored by The Pensions Regulator (TPR), concluded that defined contribution (DC) pension savers – including those in SIPPs, as well as in Workplace Pensions - require more guidance when choosing suitable retirement products.
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Lisa Webster: Overcomplicated rules are a threat
It may be more than a year since the Lifetime Allowance was formally abolished but issues are still emerging from the mess made by rushed legislation.
Popular News
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TPT launches DC decumulation product
Workplace pension provider TPT Retirement Solutions has launched a DC decumulation product, which it said has been designed to simplify retirement income planning for savers.
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Workers in the dark about workplace pensions
Two in five, 43%, UK workers don’t know how much they are contributing to their workplace pension.
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Lisa Webster: To gift or not to gift?
Since the announcement that pensions are to be included in estates for inheritance tax (IHT) purposes the question of whether those with large pension pots should be giving some funds away has become increasingly common.
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1.5m workers can't afford to save into a pension
More than 1.5m UK workers say they cannot afford to save into a pension.
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Pension transfer times rose during tax year end
Simpler pension transfers took an average of just 11 days to complete in the lead up to the end of the 2024/25 tax year.
PK Wealth has made its Managed Portfolio Service – Active Approach available for external advisers looking to outsource part of their investment proposition.
The results for the half year to 30 June revealed continued growth with an 18% increase in new SIPP cases and a 58% increase in SSAS cases for the same period in 2018.
Meanwhile, assets under administration increased to £2.86bn and projected current year EBITDA was £1.8m with a 20% increase in the number of advisers using the firm.
Recurring income now represents 88% of turnover.
The firm says the SIPP and SSAS sector continues to be competitive with advisers using them for not only their complex cases but also for single asset or DFM options.
Despite the change of direction of some SIPP providers towards the platform market, Talbot and Muir says it is benefiting from “the vacuum left behind” and has benefited from a “growing number of Introducers who prefer the open architecture and personal service of a ‘pure SIPP’ which is often a cheaper solution than offered via a platform”.
Brian Talbot, director, Talbot and Muir, said: “We pride ourselves on our service and the value of our products and unlike some of our larger competitors we are making a genuine profit.
“We believe that the SIPP and SSAS sector will continue to grow but that there is likely to be more consolidation and we remain acquisitive for good quality books of business that will enhance our position as a leading independent provider.
“We have doubled the size of our office space, having recently moved to a new 10,000 square feet office within Nottingham city centre.
“The new space is contemporary, open-plan and will enable us to continue growing as we appoint new staff to ensure service levels are maintained.
“We are upgrading our back office systems with Delta which will continue to improve the portal functionality and client/adviser reporting that we offer.
“There has been a 20% increase in the number of new advisers using us for the first time as they look to review their SIPP and SSAS administrators to ensure they remain committed to the market and are continuing to innovate and invest in their businesses.”