Are NEST’s members becoming more attractive for competitors?

  NEST was established in 2010 to support pensions auto-enrolment, a public sector provider which would ensure every employer could access a workplace pension scheme for their employees. However, for a scheme seen by industry as a backstop, it now has many members with around average or better incomes, and material account balances. The second […]

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Why its important to leave a will

Even if you are in good health, it’s important to have an up to date will. It’s especially important if you have dependents or assets, such as a house, money in the bank, savings or investments. It is one of the most important legal documents that you will conclude in your lifetime. It deals with […]

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Why so few of us can afford to retire

Some important reasons why members can’t afford to retire are that they either don’t contribute enough in the first place, they don’t start saving early enough, or both. When changing jobs, many members take their benefits in cash and start saving for retirement from scratch. It’s important to note that the sooner you start saving […]

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Trialogue – DDO delivers manufacturers an (unexpected) data opportunity

  Regulators are baring their newly-sharpened teeth empowered not only by the Royal Commission findings but also new legislation. Earlier this year, two additional regulatory reforms were introduced that promise to invite ASIC even more deeply inside the operations of product manufacturers, issuers and distributors: Product Intervention Powers, which allow ASIC to step in and […]

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DC workplace pensions: rising flows and more switching will tempt entrants

  The minimum contributions ramp-up is helping drive growth in DC workplace pension flows. In parallel, the switching “secondary market”, long predicted but slow to emerge, is also picking up steam. Against a slow growth UK wealth market, these dynamics make workplace pensions appear tempting for entrants. But with profitability elusive, is this actually a […]

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The forgotten advice distribution opportunity

  There is no doubt that there are significant shifts occurring in the advice industry: FASEA will see many advisers leave the industry (though mostly the non-productive ones), the shift in licensing model to ‘independent’ continues unabated and the overlap between accounting and financial advice continues to grow. Amongst all this change, many asset managers […]

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Four realistic ideas for the reality of pensions disengagement

  Member disengagement in workplace pensions is well documented; with similar issues evident in individual pensions, providers need to be smart but realistic in their communications strategy. Despite the recent focus on engagement issues within workplace DC pensions, it is worth remembering that individual pensions (personal pensions and SIPPs) still account for >50% of DC […]

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Sizing the DB transfer market

  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. What should insights and strategy teams assume for […]

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UK wealth industry value chain is gradually contracting

  Total fees paid by consumers have appeared stuck at ~200bps despite many changes in the industry in recent years. However NMG data shows that prices in all key components of the value chain are falling. The UK wealth industry value chain has been resilient over the past decade, despite many changes including rapid growth […]

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The impending advice gap is dramatically overstated

  There have been many ‘Chicken Little-esque’ predictions that the sky is falling in, that FASEA and the fall-out from the Royal Commission will decimate the number of advisers in the industry, creating a large advice gap and preventing many investors who could benefit from advice from being served. While there is no doubt that […]

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