King castle

The Morning Briefing: King of the castle; We don’t need more education

Hello and welcome to your Morning Briefing on Thursday, November 25, 2021. To have this delivered to your inbox every morning Click here.

King of the castle

Kingswood said he plans to announce up to three more deals to buy independent financial advisory firms before the end of the calendar year.

Chief Executive Officer David Lawrence said Money Marketing the company will announce at least one, “hopefully two or even three” additional acquisitions over the next three weeks.

He said the company has a “really good” pipeline of potential acquisitions and “talks about opportunities all the time.”

We don’t need more education

“We have a problem. An education problem. To be more precise, a financial education problem.

“And that might not be what you think. It is not that collectively we do not have access to sufficient financial education. Rather, we do, bucket loads of it.

“And yet I read article after article saying we need to provide even more financial education.”

Financial education is already delivered in so many ways, so do we really need more? Perhaps the profession needs to go further, argues the director of wealth at Altus Simon Bussy in his column to Money Marketing.

Steps to net-zero

With the recent advent of COP26, it is critical that businesses of all sizes make changes to help meet the UK government’s net zero emissions target by 2050. Many companies want to do more to increase their sustainability, but don’t know where to start.

Nick Astley, Investment Manager and Positive Impact Champion at Progeny, reviews three steps you can take to get started on your path to net-zero.

Quote of the day

Families change rapidly and are no longer constrained by creed or culture, gender or geography. But modern families can be complex, stimulating, diverse and scattered – often literally.

– Emily Deane, Technical Advisor at STEP, comments on the research. Almost two-thirds of succession planning counselors say complex families represent a “significant proportion” of the families they counsel

Statistics attack

The Covid-19 pandemic has made people who receive financial advice more risk averse, as the ability to lose becomes a more important factor in investment decisions. This is according to a new study by Abrdn which interviewed 1,000 people.


Advised people want lower investment risk than before UK lockdown


They said they wanted more risk, with both groups citing loss capacity as a contributing factor


Among those who are happy to take more risks, they also cited greater confidence in the advice they receive.

Source: Abrdn

In other news

Clinical technology provider Comentis has launched a Financial Vulnerability Analysis Tool – a dashboard that presents companies with insight into vulnerability trends that exist among their customer bases.

The dashboard uses the information collected from vulnerability assessments, performed through Comentis’ Cognitive Assessment Engine (CAE), and presents the data in a clear and granular manner.

The company said that not only will the platform make internal customer vulnerability monitoring more effective, but it will also contribute to a much more manageable external reporting process.

He said the tool will help make the reporting task much easier and faster.

This is particularly relevant in light of the Financial Conduct Authority’s plans to crack down on identifying and supporting vulnerable clients in 2022, in line with guidelines released earlier this year.

Comentis expects increased regulation to be rampant across various industries and has warned companies that vulnerability reporting at a fairly granular level will soon become the norm.

About a third of finance professionals felt they were vulnerable in the past 12 months.

A recent global survey by the Chartered Body Alliance revealed harsh realities about dealing with vulnerable clients, including that 33% of those working in financial services considered themselves vulnerable in the past 12 months.

The survey was conducted by members of the Chartered Body Alliance between August 4 and September 8, 2021. A total of 1,637 responses were received.

In the past 12 months, the majority of respondents (61%) said that they had directly or indirectly supported a client in a vulnerable situation, while 75% had discussed the problems encountered by these clients within their team, frequently or occasionally.


Unemployment claims in the United States plunge to their lowest level since 1969 (The independent)

India to ban private cryptocurrencies and launch official digital currency (The Guardian)

Family offices are becoming serious rivals of venture capital firms for the financing of start-ups (Financial Time)

Have you seen?

“’We’re going to think big. GO BIG! “.

“Earlier this year, that was the political and economic mantra of Joe Biden and his Treasury Secretary and former Federal Reserve Chairman Janet Yellen.

“Stung by the enduring legacy of the accusation that governments were almost entirely absent from action in the aftermath of the financial crisis more than a decade ago, when all the heavy lifting of the economy was left to central banks , Biden and Yellen were not going to suffer a similar insult in the wake of the pandemic. This time the government would lead head on.

“But in Biden’s case, GO BIG has been diluted for GO not quite so BIG.”

John Chatfeild-Roberts, co-head of strategy for the Jupiter Independent Funds team, examines the many challenges Biden’s promises to fix the global superpower’s economy already face.