UK’s new guidance body needs to focus on technology

January 24, 2019 Tom Murray

guidance technology financial education SFGB Single Financial Guidance Body

UK’s new guidance body needs to focus on technology The arrival of the Single Financial Guidance Body is a welcome streamlining of the UK Government’s approach to the provision of financial guidance to the general population.  Merging the three existing bodies, the Money Advice Service, the Pensions Advisory Service and Pension Wise, into a single organisation brings clarity to the services provided by the government.    Although it has yet to be given its official name – the SFGB being an unwieldy working title – the fact that it doesn’t contain the word advice is a good sign. It shows that the body is aware that the use of the word ‘Advice’ in two of the bodies now making up the service was dangerous and could easily confuse the unwary into thinking they were receiving independent advice.  This would be a good indication that the final name chosen will avoid that trap. 
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Investment Life and Pensions Moneyfacts: The chains that bind our youth

February 07, 2018 Tom Murray

financial education financial debt financial goals generation debt personal finance

Investment Life and Pensions Moneyfacts: The chains that bind our youth This article was originally commissioned for Investment Life & Pensions Moneyfacts Magazine.  Tom Murray reflects on the growing need to ensure that young people are financially competent. "Good habits formed at youth make all the difference.”  This famous quotation from Aristotle has stood the test of time.  Few will query its application to living a good life and proper financial planning is clearly an important component of a good life.  So how are we doing in terms of ensuring that our young people are financially competent and enabled to enhance their life and cleverly use their assets throughout it?  
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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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Life experience provides better guide than financial qualifications

June 19, 2012 Tom Murray

German Pensions UK Admin Plus EU

There has been some debate lately in the trade press about the tendency of people to take level annuities rather than inflation-proofed annuities because of the higher amount available. This fact has been held up as proof of the need for advice at the point of retirement, because otherwise people will tend to take the larger amount on offer from level annuities and not factor in the consideration that inflation will erode the value of the annuity payments over time.
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