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

FOR ADVISORY FIRMS THAT PRIORITIZE CLIENTS AND AIM FOR LONG-TERM PROFITABILITY

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According to official documents released alongside the Autumn Statement, the lifetime allowance (LTA) for pension savings will be abolished by 6 April next year, as planned. The LTA, which sets 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 will introduce legislation in the Autumn Finance Bill 2023 to eliminate the lifetime allowance. This decision has created challenges for long-term financial planning for both advisers and clients. Caitlin Sout, the pensions technical manager at Curtis Banks, has acknowledged the difficulties this situation presents.

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Featured Author

Jenna Brown

Assistant Editor

Additional updates from Jenna Brown include the Financial Conduct Authority (FCA) proposing a new framework for investment advice redress, based

When it comes to the bond market, it is important to shift our focus away from trying to predict the

Additional Information about Retirement Savings

Exciting changes for individuals with personal pension plans

A fresh set of regulations by the FCA will be implemented from 1st December onwards.

Analyzing the inconsistency in the FCA's warning about non-workplace pension funds, it is possible that clients who were not provided with advice may now be inclined to seek advice after receiving the cash

The proposed changes in workplace pension provision have been described as a significant transformation. The industry believes that these reforms have raised concerns for employers and need to be carefully evaluated.

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