Our UK Consulting team is responsible for our new UK & EMEA focused Citylogue – a must-read for those within the wealth industry. Citylogue takes a deeper look at contemporary issues in wealth management, asset management, and protection across the UK, Europe, and Asia.
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The UK government recently released the Individual Savings Account (ISA) sales statistics for year ended April 2018 – with some concerning trends. Although £ volumes showed healthy growth, this is a narrowing (and highly segmented) market in terms of customers. For those unfamiliar with the UK market, an ISA is a tax-advantaged savings vehicle in […]
Our last Citylogue highlighted some key findings from NMG’s consumer research for the FCA’s Investment Platform Market Study – what factors are most important to consumers and how satisfied they are (pretty satisfied at present). The scale of our study – over 3,000 consumers of the top 20 UK platforms – also allowed us to […]
Platforms now dominate UK retail advised flows, and we discussed in this recent Citylogue the benefits for consumers and advisers. But are consumers actually satisfied? A study undertaken by NMG for the FCA’s Investment Platform Market Study shows the majority of platform investors are in fact satisfied with their experiences in choosing and using […]
The UK retail protection market is characterised by relatively low customer engagement, with most purchases driven by life-stage triggers such as marriage, property or childbirth, rather than concern about the risk of personal illness or death. With consumer perception of a strong social safety net in place in the form of the NHS and other […]
Platforms have gained a commanding share of retail advised assets. But how commanding and how far will it go? To understand that, it’s worth revisiting the platform value proposition – for investor and adviser. The UK is notable in having a strong platform segment focused on consumers, and another focused on advisers. The two are […]
What to make of the FCA’s PS18/8 Asset Management Study Remedies released last week? It looks like a damp squib in the wake of the key findings of the Asset Management Market Study June 2017 final report, but the value-for-money assessment and related disclosure requirements represent a significant new undertaking – equally an opportunity for […]
In around 10 days, the UK embarks on an experiment of grand proportions when minimum contribution rates for defined contribution (DC) pensions rise from 2% of salary to 8% over just 12 months. A major contribution of the auto-enrolment (AE) of workers has been to highlight the gaping hole in UK pensions coverage. At its […]
In Part 1 of our focus on equity release, we identified the core drivers of a growing equity release market – particularly the gap between the income needs of retirees and the yield potential of their non-housing assets. The potential for an income gap is clear from the gulf between pension and net property assets […]
Almost a dirty word following mis-selling incidents, equity release in the UK has experienced something of a renaissance in recent years. 2016 saw lending increase by 34% to pass £2bn for the first time, and Q3 2017 surpassed £800 million – the first quarter exceeding that figure and an increase of 18% on the previous […]
The market reaction to Fidelity’s introduction of a “fulcrum” management fee model in its UK fund range from March 2018 has been – well – a bit underwhelming so far. Objections have included that base management fees are not changing much, that total fees are still too expensive, especially if the fund underperforms, and that […]
The UK has a vigorous and innovative insurance industry which often leads its wealth and asset management peers in delivering customer value. The growth of streamlined insurance specialists using the digital channel to cost effectively distribute products and assistance is a notable success in its own right, and provides lessons for wealth and asset management. […]
The role of Environment, Social, and Governance (ESG) factors in investment strategy is growing, with the Global Sustainable Investment Alliance sizing the responsible asset management market as $23trn at the start of 2016. This represents a growth in AUM of 25% since 2014. In our institutional asset owner insight programs, we see an increasing number […]
In our launch edition, we looked at how big increases in minimum contribution rates for DC pensions are likely to produce a DC pensions flow opportunity of >£20bn pa by 2019. Thanks to the structure of auto-enrolment and member inertia, fast growth in DC pension assets is largely assured. By 2020, we estimate there will […]
The UK is experiencing a pensions revolution at a speed with little precedent globally. Two of the three main components are playing out already, and the third is about to do so: Closure of defined benefit (DB) pension funds in favour of defined contribution (DC). Pensions freedoms, which have upended annuity markets in favour […]