Shadforth Financial Group Ltd’s Post

Money is a deeply personal topic, and I've always found it challenging to think about it without framing it in negative experiences I've faced. That has led to missed opportunities, or bad decisions, and as they say, "Money is a bad master, but an excellent servant". I've taken on a more conscious active small, doable steps in improving our financial literacy, still learning. But there are lots of resources out there to read about. Consider the tools and even professional advice from MLC Australia! Take a look at the Financial Freedom Report and resources here: https://lnkd.in/gsKXa5uN

Governance and oversight continue to be important regulatory focus areas, as emphasized by the FCA, FOS, and FSCS. In their recent efforts to support former British Steel Pension Scheme members they offered over £100 million in redress to nearly 1,900 individuals. Key insights from their recent report include: ✅ 1,878 former members offered redress through the BSPS consumer redress scheme. ✅ 6,537 former members had their advice reviewed by FSCS, FOS, or the BSPS consumer redress scheme. ✅ £55.3 million in redress paid out by firms, and £8.7 million by FSCS. ✅ Improved communication and support ensured affected members received necessary information and assistance. This initiative underscores the vital role of regulatory oversight, highlighted in recent publications like the Consumer Duty, and the necessity of reliable financial advice. It marks a positive step towards fair outcomes and securing financial futures for many. Read the full report here: https://lnkd.in/eAtxy9_B #FinancialServices #Governance #Compliance #ConsumerProtection

Another flood of tier-1 coverage for wealth manager RBC Brewin Dolphin in recent days thanks to another eye-catching FOI. Data prised from HMRC reveals that the UK’s largest ISA stands at more than £11.6m - built on contributions of just over £300k made over a 34-year period. The story landed acres of coverage across Daily Telegraph, Daily Mail, City AM and Daily Express. If you’re in the wealth management space, why not see how a partnership with Powerscourt can work for you. #wealth #isa #money #investing

Don’t set and forget: ASSA research emphasises active management for living annuity success. Research by the Actuarial Society of South Africa (ASSA) highlights why it is important for pensioners with a living annuity to meet regularly with their financial advisers to review their drawdown rates. Read full article to find out why the need for regular re-assessment: https://buff.ly/3KRrLI9 Like, share, and subscribe to our weekly newsletter! #ActuarialSocietyofSouthAfrica #AndrewDavison #drawdownrate #financialadvice #investmentstrategy #livingannuities #retirementplanning

Have you considered how long your income in retirement may need to last? Aside from taking all your fund in one go - or not taking it at all and leaving it to pass to your heirs - there are 4 main options. Click the link below to discover our guide to generating an income in later life and find out more about your options.

Have you considered how long your income in retirement may need to last? Aside from taking all your fund in one go - or not taking it at all and leaving it to pass to your heirs - there are 4 main options. Click the link below to discover our guide to generating an income in later life and find out more about your options.

Clarification Wednesday... R3 Technical Alert - Clarification on non-occupational pension schemes, Redundancy Payments Service. Available here* - https://lnkd.in/ejBCpn2y R3 members only. If you are not a member, then perhaps you need to have a think about your life choices. A long hard think. Join the R3 community here - https://lnkd.in/gRQryqR #insolvency #insolvencypractitioner #RPS #TUPE #employees #pensions

“Corporate governance is important, but there is no point in having the best regulated graveyard,” So says Charles Hall, Head of Research at Peel Hunt “It is clear that the UK needs to change to ensure that we have an effectively functioning market.” The comment is in response to the letters written by a coalition of 87 council pension schemes to Julia Hoggett who is not only the CEO of London Stock Exchange (LSE) but also chairs the CMIT - Capital Markets Industry Taskforce as reported on by City AM’s Charlie Conchie. https://lnkd.in/e2zhfbGW As Mark Austin says of the CMIT, the group is “not a regulatory or policy-making body” and its “core purpose is to encourage important conversations” around UK capital markets. #change is the buzzword that swept Labour into power. We are all encouraged by the new Government’s stated agenda as to #Growth. In order for pension funds to play their part I don’t believe they should be compelled to #invest a certain way, but would ask the pension trustees some questions… 1. Do you feel that the current Regulatory environment encourages or discourages you to take appropriate #risk? 2. If there was a reversal of the #incentive taken away from pension funds by Gordon Brown with reference to the #tax credit on dividends, would that encourage you to invest more in UK 🇬🇧 #equities? 3. What other incentives would assist? The importance to the UK 🇬🇧 #economy of having strong, well governed, effective and functioning Financial #Markets cannot be overstated. We have become a nation scared to take risk for fear of the consequences should things not work out quite as we had hoped. 🤔🕊️✌️🇬🇧 #media #socialmedia

A huge topic approached from a more engaging style, an easy weekend read. I'm excited to share a thought-provoking article that challenges our perspective on Australia's financial advice industry. This piece explores how John Rawls' theory of justice, particularly his concept of the "veil of ignorance," could revolutionise our approach to financial advice accessibility and equity. Key highlights: • The growing disparity between the cost of financial advice and what Australians are willing to pay • Applying Rawls' difference principle to prioritise advice for those who need it most • Leveraging technology to increase accessibility while ensuring fairness • Rethinking regulatory reforms through a Rawlsian lens • The potential for a new social contract in financial advice As an industry, it's crucial that we continually challenge our assumptions and explore innovative ways to serve all Australians, not just the wealthy. This article offers a fresh perspective on how we might create a more equitable and accessible financial advice landscape. I encourage you to read and reflect on these ideas. How might they shape the future of our industry? Let's start a conversation about building a financial advice system that truly works for everyone. #financialadvice #financialadvisors #financialplanning #superannuation #fintech #retirement

Not sure whether to open an RRSP, a TFSA or both? This is a common question among Canadians. As we are approaching investment/holiday season, and a lot of us preparing for their January/February appointments with their Financial Planner. This is a good article to read! #holidayseason #investmentseason #financialplanning https://lnkd.in/dTHNhQMD