Good morning and welcome to your Morning Briefing for Thursday 19 December 2024. To get this in your inbox every morning click here.
The gift of financial security
Marketing campaigns succeed because they go beyond just selling products, says Octopus Money chief executive Ruth Handcock.
They create compelling, emotional experiences—whether it’s fostering magical family moments, expressing love or encouraging thoughtful giving that makes us feel better about ourselves.
My dream is for our industry not to try to compete with the retail sector, but to take inspiration from their strategies.
Radical reform in pensions
Two different ministers, a change in government, a plethora of proposals and promises of radical reform ensured pensions were never out of the spotlight in 2024, says news editor Dan Cooper.
And one thing is certain – 2025 is shaping up to be a landmark year for pensions.
Diversifying from spendthrift governments
Donald Trump and the Republican Party have retaken the White House and Congress with a platform of big cuts to taxes and immigration, says Rathbones fund manager Will McIntosh-Whyte.
This will put more pressure on spendthrift government finances, with deficits already yawning wide.
Quote Of The Day
The UK stock market has, once again, to some degree frustrated those who were convinced it was cheap
– Russ Mould, investment director at AJ Bell, comments on the UK stock market
Stat Attack
Charities investment risk appetite is set to increase over the next two years as they look to boost returns and put rising funds to work, new research with major charities from wealth manager Rathbones has revealed.
81%
expect the investment risk appetite to increase.
25%
expect a dramatic rise in risk appetite.
85%
say their investment risk appetite has increased over the past two years.
14%
say their risk appetite dropped in the past two years.
67%
cited that as a reason to accept more risk.
56%
said they needed to find ways to generate stronger returns.
18%
of senior charity executives said their organisation’s risk appetite will decrease in the next two years.
Source: Rathbones
In Other News
ProviderLookup.org, part of the Plus Group, has announced the launch of its free online directory, offering financial professionals access to over 1,300 providers.
This initiative aims to streamline workflows and improve efficiency across the financial services sector.
The directory provides contact details, departmental information and notes on providers’ document acceptance policies.
It also highlights whether providers participate in Origo’s Unipass Letter of Authority service, a digital solution for handling letters of authority.
The platform includes a browser extension for access to and integration into users’ existing systems.
It features tools like click-to-call, favourites lists and a plan number search in beta.
This development is made possible through partnerships with fintech firm Origo and industry community NextGen Planners.
From Elsewhere
Fed cuts rates but ‘hawkish’ forecast hits stocks and sends dollar jumping (Financial Times)
UK interest rates expected to stay at 4.75% (BBC News)
Dirt cheap UK stocks are set to vindicate optimists next year (Bloomberg)
Did You See?
As 2024 wraps up with adviser productivity falling and salaries rising, consultant Paul Harper predicts what will happen over the next 12 months.
In my opinion, the Consumer Duty will continue to bite as the regulator turns its focus from the largest players to the midsize and smaller players, he writes.
This may expose others who might have been less diligent in providing regular client reviews.
It will also continue to separate those who can sell their business from those who cannot – or at least have to delay to make their business more saleable, or to accept a lower sale value than they might have hoped for a couple of years ago.
Older advisers will continue to exit the market.
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