News & updates

Investors could be forgiven for thinking that the pace of technology disruption is increasing and that it threatens both the current constituents of equity market indices and the core trend of equity real returns. We disagree. The lesson we chose to draw from long...

2017 was uneventful. Really? What else could we deduce, though, from a year (the tenth since the global banking crisis first started to unfold) in which exceptionally low bond yields stayed low and equities continued to rise, by slightly more than their long-term...

Prompted by talk of a feeding frenzy at Port Talbot, I've written a lot about what could explain the media and regulatory bias against transfers from DB to DC pensions. There are two linked strands I have pointed to: a culture of paternalism (Nanny knows best) and a...

We have created a calculation tool for members of final-salary pension schemes considering taking a Cash Equivalent Transfer Value and then funding their retirement spending by drawdown from a personal pension. This is commonly referred to as a Pension Transfer or a...

How do you protect people from outright scammers or bad advisers without depriving of them of the right to make their own financial choices? If regulation appears unable to eliminate mistakes or fraud, should the 'nanny state' step in and restrict choice? Is it better...

Who might be interested in this? Our response to the FCA’s consultation of pension transfer advice, which can be read , is mainly of interest to fellow pension professionals and pension journalists. It is far more technical, note, than individuals will need or value....

The FCA wants to intervene to strengthen weak price competition in asset management. But it’s inherent in competition driven by investors playing a performance game. What intervention can change that? Not much, we say. But change is on the way even without the FCA....