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The Path to Sustainable and Profitable Adviser Firms: Putting Clients First

FOR ADVISER FIRMS THAT ARE FOCUSED ON CLIENTS, PROFITABILITY, AND LONG-TERM SUSTAINABILITY

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According to official documents, the abolition of the lifetime allowance (LTA) for pension savings is on track and will be completed by April 6th of next year. The LTA, which is the maximum amount individuals can contribute to their pension pot without incurring tax charges, was announced to be removed in the Spring Budget. The government plans to pass legislation in the Autumn Finance Bill 2023 to eliminate the lifetime allowance. This decision has made long-term financial planning more challenging for both advisers and clients, as the Labour party has promised to reinstate the LTA if they win the next general election. Caitlin Sout, the pensions technical manager at Curtis Banks, has expressed concerns about the impact of this situation on financial planning.

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Featuring an author

Jenna Brown

Assistant Editor

Additional information from Jenna Brown

The Financial Conduct Authority (FCA) suggests implementing an investment advice redress framework that follows the

When it comes to the bond market, it is best to avoid relying on predictions and instead concentrate on the

Additional information about pensions

Non-workplace pension savers will receive new regulations as a gift

A fresh set of regulations from the Financial Conduct Authority (FCA) will be implemented starting from 1 December.

Examining the contradiction in the FCA's warning about non-workplace pension cash, clients who have not received advice may seek advice after receiving the cash warning.

The proposed changes to workplace pension provision have sparked significant discussion within the industry. These reforms have raised concerns for employers and require thoughtful consideration.

This text is copyright of Incisive Business Media (IP) Limited and is published by Incisive Business Media Limited. The company is located at New London House, 172 Drury Lane, London WC2B 5QR. It is registered in England and Wales with the company registration numbers 09177174 and 09178013. Incisive Business Media Limited is a part of the Arc network, which can be found at www.arc-network.com.

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The Path to Sustainable, Profitable, and Client-Focused Adviser Firms

UK Government Confirms Abolition of Lifetime Allowance for Pension Savings by April 2024