Two in five HNW individuals financially support their children but three in five do not feel comfortable talking about money issues with them, according to new research. The study by wealth manager Charles Stanley was conducted late last year. HNWIs are happy talking about money to their partner, with almost three-quarters saying they are comfortable having cash conversations with their other half. Two-thirds said they were comfortable talking to financial advisers and just over half to investment managers or accountants. But only two-fifths agreed they were comfortable talk ..read more

The number of complaints about life and pension or investment companies fell by 8% during 2022, according to the latest data from the Financial Ombudsman Service. But complaints about banking, insurance and mortgages were up as much as 14%. Data published by FOS today covered complaints data about individual businesses for the six months from 1 July to the end of December 2022. The number of overall complains received remained steady compared to the first half of the year. {loadposition hidden2} The Ombudsman said it received a total of 79,921 new complaints in the six months, compared to ..read more

Plans to bring forward a rise in the state pension age which were expected to be announced in May have been put on hold, according to newspaper reports. The Financial Times said ministers have delayed a decision amid fears of a backlash from middle-aged voters. The state pension age is due to rise due to 68 from 2044, but it has been rumoured that ministers wanted to bring that forward – potentially to as early as 2035 – with an announcement expected in May. The FT today suggested that ministers have now decided to delay a decision until after the next general election, which is expec ..read more

Pensions and financial services consultancy Hymans Robertson has selected Jon Hatchett as senior partner to lead the firm from 1 April. He will head the firm allowing incumbent John Dickson, also a senior partner, to resume his role focusing on investment advice for the firm’s clients. Mr Hatchett joined Hymans Robertson in 2006 after a career in academia.  Hymans said that he passed all the actuarial exams in record time for his generation and became a partner in 2013. He became an equity member of the firm in 2017.  He has held various leadership roles including being the found ..read more

Former Abrdn advice director Neil Messenger has formed a new advisory firm called Professional Independent Wealth Advice (PIWA) which will join the Sandringham Financial Partners network. Mr Messenger will be chief executive of the new firm. He spent two years at Abrdn Financial Planning before which he was a partner and national head of wealth advisory with Grant Thornton for seventeen years. He is seeking a further sixteen advisers to join PIWA, who will all be stakeholders in the business. {loadposition hidden2} Mr Messenger said: “I want to hear from motivated and passionate advisers w ..read more

Fast-expanding Nottingham-based Financial Planner Wren Sterling has completed two acquisitions, Active Wealth Management and HB&O Financial Services, adding 860 clients and £330m in assets. They are the firm’s fifth acquisitions since the start of 2022.  Active Wealth Management Limited will join Wren Sterling’s Glasgow office while HB&O Financial Services, based in Leamington Spa, will further expand Wren Sterling’s presence in the West Midlands. {loadposition hidden2} James Twining, chief executive, said: “Both these deals will enable us not only to enhance the offering ..read more

There was a surprise surge in CPI inflation in February to 10.4% - from 10.1% in January - due mainly to rising food prices. Latest figures from the ONS out today threaten the Chancellor’s Budget prediction that CPI will fall to 2.9% by the end of the year. The Consumer Prices Index including owner occupier costs (CPIH) also rose by 9.2% in the 12 months to February, up from 8.8% in January. {loadposition hidden2} The biggest upward drivers to the CPIH and CPI rates came from restaurant and cafe prices, food and clothing. ONS said that the annual inflation rate for restaurants and hotels w ..read more

Boston Multi Family Office has acquired Fedelta Trust Limited which will see the existing Fedelta team, led by Steven Quirk and David Brew, move to Boston’s Isle of Man offices. The acquisition is subject to regulatory approval. The deal is the latest from Boston as it continues to pursue its ambitions for long-term growth in the fiduciary market. {loadposition hidden2} It is the second major acquisition since chief executive Katherine Ellis and chief operating officeer Alex McNee led a management buyout of Boston in October 2019.   In 2020 Boston acquired IQE Ltd with ..read more

A leading industry body has urged pension providers to continue to implement their Pensions Dashboards plans, including how they will connect to the central digital architecture. The call has come from industry-backed fintech company Origo. Origo says that despite a Government Pensions Dashboard "re-set" and the scrapping of the current timetable the dashboard plans must move ahead. In early March Pension Minister Laura Trott announced a reset of the schedule, saying more time was needed for the successful connection of the wide range of different IT systems in the industry, to t ..read more

Therese Chambers, director of consumer investments at the FCA, has revealed more details of the advice/guidance review, including the fact it will be a joint enterprise between the FCA and the Treasury. She shared the information during a speech at the TISA Financial Advice and Guidance Conference. She said the review will cover both the accumulation and decumulation phases and will only exclude DB transfers and guaranteed minimum income products. She added that in the ten years since RDR, a lot has changed, and regulations need to keep pace with the digital world, to make the most of oppo ..read more