The Morning Briefing: Abrn names financial planning boss and regs online in spotlight

Hello and welcome to your Morning Briefing for Wednesday, February 2, 2022. To receive it each morning in your inbox, click here.


Abrn’s new financial planning boss

Abrn has appointed Sarah Deaves to lead financial planning for its personal wealth management business.

Money Marketing learned that Deaves joined the firm after leaving Schroders Personal Wealth, where she was managing director, client relations and wealth advice, last June.

At Abrn, she will be responsible for leading the financial planning arm.


Online regulations

Parliamentarians continue to bang the drum for the government to crack down on internet fraud through the Online Harms Bill.

Once again, MPs have called on the government to legislate against fraudulent online adverts in a report published today (2 February).

It was produced by the Treasury Select Committee and examines the changing nature of economic crime.

The committee is calling on the government to seriously consider whether online giants should reimburse those who fall victim to scams on their platforms.


provider service

The lack of decent service that providers gave to advisors and clients was reported in depth recently to Money Marketing.

Momodou Musa Touray reported on pension provider Mercer UK, which has been criticized for its ‘awful’ treatment of pensioners who struggle to access their retirement savings.

Social media is also teeming with what appear to be customers who are unhappy with everything that’s going on.

This led to our weekly poll.

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quote of the day

It’s painful to be a high growth investor right now. Stocks that apparently could have walked on water for much of the pandemic have recently floundered, if not sunk.

– Ben Yearsley, Principal at Fairview Investing Ltd comments on market performance in January 2022



Stat Attack

A study by LV= shows that Britons approaching retirement are increasingly worried about rising prices. The LV = Wealth and Wellbeing Monitor, a quarterly survey of over 4,000 UK adults, reveals:

33%

UK adults worried about rising prices of everyday items, up from 27% in September 2021

36%

of people over the age of 55 are the most likely to say they are concerned about rising prices for everyday items

40%

Women are more anxious than men about rising prices (26%)

41%

People aged 55-64 (not yet retired) said they were confident they had saved enough for a comfortable retirement, up from 44% in December 2020

55%

Of those over 65 (who were not yet retired) are convinced that they have saved enough for their retirement, compared to 60% in December 2020

35%

Women are much less likely than men (52%) to feel confident about their retirement prospects

71%

of affluent consumers believe they have saved enough for a comfortable retirement, compared to 43% of the population as a whole

Source: LV=



In other news

Liontrust Asset Management has appointed Emma Howard Boyd as its new non-executive director, effective January 19, 2022.

She brings to the Board extensive business and financial services experience, as well as experience in governance and stewardship.

She has held a number of non-executive and advisory roles over the past eight years since leaving Jupiter Asset Management as Director, Stewardship.

Currently, she is Chair of the Environment Agency, ex-officio board member of the Department for Environment, Food and Rural Affairs and Acting Chair of the Green Finance Institute.

She is also an advisor to the Chamber of Commerce and served as the United Nations Global Ambassador for Race to Zero and Race to Resilience prior to COP26.


Tilney Smith & Williamson has announced the appointment of experienced wealth management professional Richard Stanwell as Chief Investment Officer.

He brings 25 years of financial services experience and will contribute to the continued growth of the firm’s investment management team in London.

Stanwell joins Tilney Smith & Williamson from EFG Private Bank where from 2018 he was a senior director and worked with a range of clients including trusts, foundations, high net worth and ultra high net worth individuals and family offices .

Previously, he held senior roles at Kleinwort Benson, where he led the UK teams, and at Barclays Wealth.

Stanwell is a Chartered Fellow of the Chartered Institute for Securities and Investment and holds the AFPC qualification.


Wealth management firm Featherstone Partners has announced the appointment of Sophie Burke-Murphy as Chief Investment Officer.

She has fourteen years of investment management experience.

She joins Featherstone from Ruffer LLP where she spent 10 years and served as Chief Investment Officer responsible for managing investment portfolios for private clients and charities.

Previously, she held a position at GAM Investments within the multi-manager team.

In her role at Featherstone, Burke-Murphy will bring her private client expertise to further strengthen the investment team and support her clients.

As a Chartered Alternative Investment Analyst, she will also serve on Featherstone’s investment committee, working closely with the family office’s investment team.

This appointment supports Featherstone’s ongoing plans to grow its customer base, bringing its aligned approach to other investors across the UK.



Moreover

Boris Johnson readying billions in loans to help families with rising energy bills (The Telegraph)

Leveling billions ‘wasted’ as ministers choose bad projects and ignore ‘what works’, study warns (The Independent)

Boss gives staff a pay rise and a four-day week to cover National Insurance hike (Metro)


Have you seen?

As January draws to a close, the Money Marketing editorial team discusses their defining stories as well as what readers should look forward to in February 2022.