After all the anticipation, did Budget 2015 deliver? As usual, it depends on who you are. This time it was savers who bagged the most rabbits from the hat, along with first-time buyers. Businesses also got a considerable boost, and anyone who regrets a recent annuity purchase will now get the chance to reconsider. Highlights included:
With all the new changes, consumers will be on the hunt for advice.
New Model Adviser revealed this week that most savers reaching retirement are planning to seek advice before accessing their pension. Since the launch of Pension Wise, debates over the difference between guidance and advice have intensified, and many advisers have commented that Pension Wise could actually hinder the advice service. But the government's scheme could also deliver advantages to the advice industry. Karen Barrett, chief executive of unbiased.co.uk, points out that 'it will be a service for people to approach in the first instance', and sees opportunities arising from this. You can read more on the comparisons of both services in the FT here and here
We want to hear your views: Do you think Pension Wise is good or bad for the advice industry? Have your say in our latest LinkedIn discussion.
Thanks to all of you who took part in our Value of Advice survey. The response rate was great and your answers are helping us to build a detailed picture of the current advice landscape. In the meantime, why not take a look at last year's campaign here.
With commission from workplace pensions being phased out by April 2016, you'll need to start charging employers fees very soon. But what's involved in making the transition? And how should you begin?
In our new white paper - Moving from commission to fees - advisers who've been there and done it discuss how to successfully make the transition to a fee-based business model.
From getting started to charging models, opportunities to take advantage of and more.
What's inside the paper?