Latest - RETIREMENT PLANNING

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  FCA to impose contingent charging ban over fears of ‘unsuitable advice’

  30 July 2019

  The FCA has proposed a ban on contingent charging for defined benefit transfers in a bid to stop consumers receiving unsuitable advice. In its latest consultation paper, the regulator warned it fears too many advisers are delivering poor advice, driven by conflicts of interest in the way they are paid. According to the findings,...

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  Should a Pension Transfer Specialist be CF30?

  17 July 2019

  ATEB’s Steve Bailey says the compliance consultant’s team recently pondered the question ‘Does a Pension Transfer Specialist (PTS) need to be a CF30?’ and came to a view.  Requirement for a PTS COBS 19.1.1A states: “A firm must ensure that advice on pension transfers, pension conversions and pension opt-outs is given or checked by...

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  Later life care fund idea gaining in popularity

  15 July 2019

  Nearly half of people would be happy to save into a fund for care bills, if the money could be left to family when they die.  In a nationwide study carried out by insurer AIG Life, a special fund which could be passed to beneficiaries was ranked the most popular option by (48%) of people, with...

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  Importance of Lasting Powers of Attorney under estimated by clients

  8 July 2019

  Financial advice group Chase de Vere has warned that Lasting Powers of Attorney (LPAs) remain under-used and mired by confusion, potentially causing stress and concern to clients. While the number of people using LPAs – a legal document that lets clients appoint one or more people (attorneys) to help make decisions on their behalf...

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  Pensions Dashboard on track with MAPS appointment

  3 July 2019

  The Money and Pensions Service (MAPS) has announced the appointment of Angela Pober as implementation director of the Pensions Dashboard Industry Delivery Group (IDG). The appointment follows the DWP’s Pensions Dashboard paper in April 2019, which set out the practical steps necessary to implement the Pensions Dashboards, starting with the establishment of the industry...

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  Gender pension planning gap cause for concern

  1 July 2019

  Just over a third (34%) of women don’t have a pension plan, compared to just 17% of men, new research from online investment service provider Willis Owen has revealed. The survey of 1,070 UK adults showed of the women without a pension, 41% said they have no intention of starting one, versus 34% of...

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  TDQ: Test Your Knowledge – Questions

  29 June 2019

  For Professional Paraplanner’s TDQ (Training, Development and Qualifications) series, we have teamed up with key support providers, such as Brand Financial Training, to provide our readers with the very best in training, development and exam support. This series aims to provide you with valuable advice and guidance materials to help you achieve your training...

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  TDQ: Test Your Knowledge – Answers

  29 June 2019

  As part of our Training, Development and Qualifications (TDQ) series, Professional Paraplanner has teamed up with key training and exam support providers to help you to, amongst other things, revise for your qualifications. Below you will find also the cross-references for the 10 questions in this month’s TDQ: Test Your Knowledge, which we posed...

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