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Financial institutions general regulatory news, July 2021 | Hogan Lovells
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Funeral plan providers must prepare to meet high standards or leave the market
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UK Financial Conduct Authority To Require Pension Providers To Offer To Book Pension Wise Appointments For Consumers Date
04/05/2021
The Financial Conduct Authority (FCA) has today proposed new rules to require pension providers to ‘nudge’ consumers to Pension Wise in order to benefit from guidance before they access their defined contribution pension savings. This includes booking an appointment with Pension Wise if the consumer wishes.
Currently, pension providers are required to signpost consumers to Pension Wise guidance and encourage them to seek appropriate pension guidance or advice to help them understand their options. However, take up of Pension Wise guidance remains low.
Budding adviser launches financial coaching service for ethnic minorities
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During Covid-19 pandemic
Jordan Maxwell: I want Wealthie to be that pre-advice state, where you can talk about money in an environment with someone who looks and sounds like you.
The coronavirus lockdown meant Jordan Maxwell could not get his relevant qualifications to become a financial adviser. However, after discovering financial coaching, Maxwell launched his own service for ethnic minorities and, in this article, tells Professional Adviser s Sophie King all about it.
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