Nostalgia ain't what it used to be!

September 28, 2016 Tom Murray

UK advice gap insurance industry Retail Distribution Review (RDR) FCA

Nostalgia ain't what it used to be! Nostalgia is back in vogue, with a general trend to hearken back to a golden era, when the EEC was a far-off organisation and America was great. As part of this trend, the FCA have decided to chip in with their latest wheeze to sort out the lack of advice available for the smaller investor.  
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FCA surprised that doing nothing didn’t fix OMO!

January 08, 2016 Tom Murray

Pensions UK Retail Distribution Review Financial Conduct Authority Life and Pensions

FCA surprised that doing nothing didn’t fix OMO! The Financial Conduct Authority (FCA) have released data that shows that the majority of people purchasing annuities actually bought them from their existing provider and didn’t make use of the Open Market Option to shop around for a better deal.
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Pension Wise – Paying more for less

December 21, 2015 Tom Murray

Pensions UK guidance average cost of IFA Life and Pensions

Pension Wise - Paying more for less When George Osborne stood up and accidentally announced that there would be advice given free to all when they reached retirement, so that people would be educated in how to make the most of their new pension freedoms, the Treasury spin doctors leapt into action to clarify the statement. What was meant was guidance, we were told, a cheaper level than advice which would guide people through the options available but definitively not recommend anything to the individuals receiving the guidance.
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Exaxe White Paper: Real-time data and UK Policy Administration Systems

November 10, 2015 Exaxe

White Papers Pensions UK Admin Plus wrapping legacy systems

Exaxe White Paper: Real-time data and UK Policy Administration Systems Is your PAS choking your customer-driven strategy? This white paper examines the challenges facing providers in administrating business in the life and pensions industry as we move towards the third decade of the 21st Century, and it considers what are the fundamental requirements needed for an administration system if it is to meet those challenges.
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Time to stop the blame game on annuity sales

November 25, 2013 Tom Murray

Pensions UK Retail Distribution Review Admin Plus impaired annuities

Too many people buy standard annuities. Figures published in the Sunday Telegraph this weekend show that the number of people who retire and could be suitable for an enhanced annuity is substantially higher than those who actually do purchase one. According to the Sunday Telegraph, 68% of men between the ages of 61 and 69 suffer from a condition that would qualify them for this type of annuity, yet only 31% are actually being steered towards them. As a result, many of the 360,000 people who buy an annuity each year are landed with a really bad deal.
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Retirement advice – a necessity not an option

September 06, 2013 Tom Murray

simon smallcombe basic pension needs decumulation Pensions UK

It’s time to sort out,once and for all, the issue of advice at the retirement stage. The financial press throughout August have been full of articles from industry experts, all critical of the lack of advice being given to people who are retiring and the resulting bad choices that are being made in terms of product purchase.
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Actuarial Post: Technology is no silver bullet for annuities

June 25, 2013 Tom Murray

administration Pensions UK Retail Distribution Review Admin Plus

By Tom Murray, Head of Product Strategy, Exaxe.
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Pension sector needs to believe in itself

June 04, 2013 Tom Murray

Pensions UK EU politicians Life and Pensions

The life and pensions industry is a sophisticated player that delivers huge benefits to its customers globally and has improved the lives of all the generations that have been born since its foundation.
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Regulation to safeguard savers is self-defeating

December 05, 2012 Tom Murray

low risk high risk Pensions UK EU

We need to grow up and accept risk. There is no way that we can invest money and hope for significant growth outstripping inflation without undergoing some risk that investments may go wrong and the final amount we get will be less than our original contributions.
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The FSA needs to be wary of quick-fix solutions

September 28, 2012 Tom Murray

Pensions UK Retail Distribution Review FSA Life and Pensions

Since the Retail Distribution Review was first mooted, voices in the industry have been pointing out its primary flaw; the effect of the regulation is to put advice on financial matters out of the reach of the majority of the population, who could not possibly afford the advice they needed.
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