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“Advice is ‘too expensive’ and ‘for the wealthy’, Brits claim”
Is this the fault of advisers, overpricing their advice? Are the ignorant masses to blame, not knowing what’s good for them? The answer I think, is neither, or perhaps a bit of both and a bit of ‘the other’.

“BoE raises base rate to 4% marking 15-year high”
Rumours were that, if interest rates went up, it would be by 25, not 50 ‘basis points (a quarter rather than a half percent, in old money).

“How the world economy could avoid recession”
Fund managers can often sound like politicians; or economists; or even weather forecasters. ‘The chances of a global recession have diminished but we cannot altogether rule it out, which could benefit share prices in cyclical stocks. Do be prepared for the odd shower

“Claims over illegality in ‘Wild West’ crypto firms”
‘MPs have called parts of the crypto industry a ‘Wild West’ after hearing that the FCA has reported evidence of possible criminal activity’. To quote the great Basil Fawlty (kids etc.), ‘Can’t we get you on Mastermind, Sybil? Specialist subject – the bleeding obvious’.
Economic news
“How the world economy could avoid recession”
Fund managers can often sound like politicians; or economists; or even weather forecasters. ‘The chances of a global recession have diminished but we cannot altogether rule it out, which could benefit share prices in cyclical stocks. Do be prepared for the odd shower
“CBI boss urges Sunak to show more ambition on economy”
For the first time for a long-time, someone with some positive, non-binary (in the old sense) ideas to get us out of our current economic, low or no growth mire.
“‘Nightmare’ inflation eases slightly to 10.5%”
As many have already commented, Rishi’s promise to ‘halve inflation by the end of the year’ is the economic equivalent of promising warmer weather in summer.
“FTSE hits four-year high on UK growth surprise and fall in US inflation”
As if on cue, some actual investment good news. Our Stockmarket has sort-of soared (already leading one client to tell me he’s worried it’s too high, no pleasing some people). Apparently, it was football fever that saved the UK from recession.
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Financial Services
Ticking the Boxes
https://www.youtube.com/watch?v=ue7fGnCyiGQ
This month’s Interview: Nigel Clarke – Protection Specialist
Join us as we speak with John Butterworth, independent financial adviser at Philip James Financial Services. We learn about John’s background and talk about savings, investments, and how we can help manage your pension.
“Hunt seeks to unlock Brexit dividend by ditching financial rules”
Jeremy Hunt’s package of reforms to financial services regulation has been trailed as a 21st Century ‘Big Bang’. For younger readers, the last one was in 1985, when both Thatcher’s UK and Reagan’s America effectively let the banks have free rein to lend, invest and run the financial markets.
“Advice gap worsens over the last 5 years”
The ‘Advice Gap’ is the chasm between those who want or need financial advice, and those that can get it. Typical of financial services that we find jargon that needs explaining to talk about the problems of advising people who need stuff explaining.
“Octopus CEO: Financial advisers should be more like GPs”
‘Financial advisers should be more like GPs’. An interesting headline. The writer’s rationale is that we should be empathetic listeners, not talk in jargon (‘don’t tell me the Latin names for a disease’) and ‘build trust’.
Stockmarket
“John Lewis looks to tap into DIY investing boom with Nutmeg partnership”
M&S sold ISAs and pensions for while in the ‘90s. Richard Branson had a go. Halifax and the Pru made millionaires of quite a few estate agents when they bought them out, thinking it would be an easy way to flog mortgages and endowments. John Lewis has seen that...
“FCA lays out plan to shake up listing rules”
Great! A shake up of the rules to ensure that the City of London remains one of the world’s leading stockmarkets. Encouraging entrepreneurs and giving investors more great wealth creating opportunities. Alternative view: You’ll be able to float your business and only...
“Is human ‘hybrid’ advice set to succeed where the ‘robos’ failed?”
Sajid Javid says his top priority is to sort out the NHS’s tech, so that they can ‘make smarter use of data to improve patient care’. For years we’ve been told that the future of financial services is digital, that online advice will help to engage the unadvised...
“The time many people think is best to invest is period just before a crash”
For a while in both the late ’80s and ’00s, every other person you met at a dinner party (kids etc.) called themselves a property developer, or at least said they ‘were in property’. Which meant they’d done up a house, sold it at a profit and decided it was easy...
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