“Amazon invades financial services with home insurance launch”

Oct 25, 2022 | Companies

Amazon, like Musk, and Branson before them both, can afford to try lots of stuff and fail at some. Famously, the only part of Amazon which makes money is that which provides a huge part of the world’s internet servers. That makes extremely large amounts of money, right place, right time, and can subsidise all sorts of other disruptive ventures. Branson did the clever thing and sold them with his brand name still attached (Virgin Money, Virgin Media etc). They then, of course, have to make money in their own right. Whether the Amazonians will do the same thing, or will instead carry on disrupting, is another question. They could, meanwhile, cause quite a bit of disruption in certain parts of the financial services world. Watch this space, I’d say.

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“Nutmeg losses climb 28% after JPMorgan takeover”

“Nutmeg losses climb 28% after JPMorgan takeover”

If you’re offering cheap, online investment advice, you need volume to make it profitable. To get volume (ie lots of money), you need marketing (to get lots of people to log in and give you money). And that costs, particularly, as will inevitably be the case, most of...

“FCA: Good advisers have ‘nothing to fear’ from redress scheme”

“FCA: Good advisers have ‘nothing to fear’ from redress scheme”

A firm with whom we work did advise British Steel workers, was as a result given a thorough going-over and thankfully a clean bill of health by the regulator. Then the FCA were themselves given a thorough going-over by MPs and in the press, over their inaction while the bad advice that was given was being given.