The DB transfer market has been a key new source of retail flows in recent years but is under considerable regulatory pressure. Although run rates are well off their peak, underlying dynamics mean that DB transfers should continue to play an important role in new flows.
The UK wealth industry value chain has been resilient over the past decade, despite many changes including rapid growth in AUM, the rise of platforms as a dominant method of distribution to consumers, and access to wholesale or institutional pricing from asset managers.
The upwards march of passive market share seems unstoppable. But there are reasons to think why, in some institutional segments at least, market-cap passive share may peak soon.
The threat to vertical integration has receded but financial advice is under attack. Ongoing fees underwrite the economics of advice, but if services are not delivered, a crime may have been committed.
By investigating practices implicit in vertically integrated business models, the Australian Royal Commission report is likely to ask serious questions …
Defined benefit (DB) pensions loom large over the UK wealth landscape, with huge assets and even bigger liabilities. Shortfalls …
DB Pensions and why DB transfer flows will continue Read More »
In our last edition we looked at the narrowing of the ISA market, in particular the divergence of the Cash and Stocks & Shares markets.
The UK government recently released the Individual Savings Account (ISA) sales statistics for year ended April 2018 – with some …
What to make of the FCA’s PS18/8 Asset Management Study Remedies released last week? It looks like a damp …
Value-for-money in UK asset management: taking a deeper look Read More »
In around 10 days, the UK embarks on an experiment of grand proportions when minimum contribution rates for defined …
AE: 10 million reasons why you’d rather be an asset manager than shopowner Read More »
