All the latest news and views from Financial Advice Network


15 Mar, 2018

Warning on auto-enrolment affordability crisis

When the pension contribution rises this April, from 1 per cent to 3 per cent, it has been claimed that millions of auto-enrolled pension savers will find it difficult to pay for their pensions. Research from F&TRC suggests the auto-enrolment increase will result in some people putting 21 per cent of their disposable income into their pensions, compared to 4 per cent previously. This has been criticised as “unstainable for many”.

Ban on pension cold-calling to come into force by June

08 Mar, 2018

Ban on pension cold calling to come into force in June

The government has tabled an amendment to the Financial Guidance and Claims Bill, which could see pension cold-calling banned in the UK by the end of June. The proposal means that the Secretary of State for Work and Pensions, Esther McVey, will have to exercise the regulations banning pension cold-calling by June, and if this isn’t done, she must explain to parliament why it hasn’t been done.

02 Mar, 2018

Schroders warns UK investors expecting swift rate rise

According to a senior economist at Schroders, investors may be pricing assets badly if they expect UK interest rates to rise quickly. Senior European economist at the fund house, Azad Zangana said that many UK investors had begun to prepare portfolios for interest rates to rise quickly, following comments from the Bank of England that indicated upcoming increases. He said the market is now expecting the Bank of England to put up interest rates in May, however, he feels it will be much later in the year.

28 Feb, 2018

Robo-advisers fail to attract lots of new customers

According to a report by Boring Money, asset growth in the robo-advice market has been driven by rising markets rather than new customers “suddenly seeing the light”. In 2017, the assets under administration in the robo-advice grew by 19.7 per cent. However, FTSE 100 had a growth of 11.9 per cent. The report states that customer numbers have remained “largely static” while the average account size has more than doubled. The account has grown from £25,000 five year ago to £53,000 in 2017.

insurance jobs

26 Feb, 2018

Women hold just one in five top insurance jobs

Despite the majority of firms having diversity strategies, only one in five of the most senior insurer jobs is held by females. According to research by the Association of British Insurers, although four in five insurers have policies to help women climb the career ladder, it is not reflected in the number of women landing senior roles. Director general of the ABI, Huw Evans, said that more action is needed to combat the discrepancies.

Report finds large house price changes in the UK

12 Mar, 2018

Report finds large variations in house price change in the UK

A report by property company Your Move has found large variations in house price changes throughout the UK, with Greater London seeing steep overall declines, while the north-west of England is now the region of the country with the fastest-growing property market.

IPPR calls for overhaul of the UK tax system

06 Mar, 2018

Think-tank calls for overhaul of UK tax system

A report by the Institute for Public Policy Research (IPPR) has called for an overhaul of the UK’s current tax system, and suggested replacing it with a single rate on all types of income, including salaries, savings, trusts, dividends or any other form. The report – titled Tapering over the Tax – claimed that scrapping the current system of tax bands could give average earners over £1,000 extra each year without any negative effect on the tax intake of the government.

Growth in house prices slowed unexpectedly in February

01 Mar, 2018

House price growth slows unexpectedly in February

Research has found that the growth in house prices slowed in February to 2.2%, unexpectedly down from a figure of 3.2% in January. The study, carried out by Nationwide Building Society, also found that the average price of a house in the UK is now just over £210,000, with house prices falling by 0.3% over the month of February.

Mortgage lending rises in January

27 Feb, 2018

Mortgage lending rises in January

Gross mortgage lending hit £21.9 billion in January this year, up 9.7% on the same figure in 2017, according to new figures from UK Finance. UK Finance, which collects data from UK banks, said there were 40,117 approvals for house purchases in January, following the fall in December to 36,085, the lowest monthly number of approvals since April 2013.

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