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Alternative Investment

The Morning Briefing: Phoenix adviser portal and B Corp ambitions

Good morning and welcome to your Morning Briefing for Monday 22 August 2022. To get this in your inbox every morning click here.

Phoenix portal 

Phoenix Group has recently been criticised for poor service levels and so it is not totally unexpected it wants to change that.

The insurance giant has laid out plans to launch a “new and improved” digital portal for UK advisers.

It hopes the service will “improve how it collaborates with advisers” and create “more opportunities for them to service their clients”.

A spokesperson told Money Marketing the firm will release more details about the portal “in the near future”.

B Corp

Many firms are increasingly conscious of climate change and other social issues.

B Corps, or certified B corporations, are firms meeting high standards of social and environmental performance, transparency and accountability.

Foster Denovo has told Money Marketing it is looking to obtain the B Corp status.

Incremental gains 

Many want to believe there is a quick route to a solid financial plan but Gregg Moss points out the mundane details are important too.

The ideal type of adviser is probably one who manages to combine the best bits of traditional advisers with today’s new skills, he argues.

Quote Of The Day

Both the nil rate band and residence nil rate band are frozen until at least April 2026 so we can expect to see IHT receipts continue to rise.

Andrew Tully, technical director at Canada Life comments on the latest IHT tax receipts from HMRC

Stat Attack

Nearly four in 10 professional investors believe that the current level of risk in markets is high, according to a survey carried out on behalf of Fulcrum Asset Management.


Of professional investors believe that the current level of risk in markets is ‘high’


Stated it is ‘somewhat high’


Said it is ‘very high’


Of investors responded that markets had not been this risky since quantitative easing was implemented


While others cited the 2007/8 Global Financial Crisis, the 2016 China devaluation (15%), and the Dotcom bubble (13%)


When asked to consider their asset allocation for the next six months in light of market risks, commodities came out as the asset class most likely to be increased, closely followed by illiquid alternative investments (52%) and gold (51%)

A third

Of investors said they were eyeing up cuts to equities in light of the current market conditions


Said they would be more inclined to think about absolute return strategies

Source: Fulcrum Asset Management

In Other News

Pension consultants LCP have published a new guide on the pros and cons of putting all your pensions in one basket.

It gives five reasons to consolidate your defined contribution pensions – and five reasons to be careful.

Jointly written by LCP partners Dan Mikulskis and Steve Webb, it sets out some of the positive reasons for consolidating pensions.

These include lower charges, rationalising your investment strategy and benefiting from the latest investment innovations.

Disadvantages include giving up valuable product features of old pensions, losing ‘small pot privileges’ and giving up on other ‘protected’ features.

From Elsewhere

Average pay for FTSE 100 chiefs jumps by 39% to £3.4m (The Guardian)

Plans to cut energy bills if peak-time use avoided (BBC News)

US trustbusters: why Joe Biden is taking on private equity (Financial Times)

Did You See?

Finding your life partner can be a tricky business and then you have the question of marriage.

Marriage is not for everyone and some prefer to co-habit or have more informal arrangements.

Amanda Newman Smith who frequently contributes to our Weekend Essay series has written an excellent piece on the financial planning side of divorce.

Her article is thought-provoking exploration of how advisers can talk about divorce to their clients. 

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