What the rise of populism means for your investments October 25, 2016 "Fruitcakes, loonies and closet racists” was how David Cameron described members of Ukip in 2006. A decade later, Ukip has achieved its principal ambition of a Brexit vote and Cameron is no longer a politician. The growth in support for populist political movements across Europe and other developed economies has been rapid. Founded just six [...]
The devil you know, the devil you don’t: How to protect your investments whoever wins the US election October 25, 2016 As polling day draws near, it is regrettable that the contest to become the 45th President of the United States has been more about personality than policy. The campaign has been distinguished on one side by preposterous promises to suspend the entry of Muslims into the country and build a hard border with Mexico, and [...]
Resurgent protectionism threatens both the US economy and share prices – and not just if Trump wins October 24, 2016 Protectionism – the practice of shielding a country’s industry from foreign competition – and the prospect of a descent into a beggar-thy-neighbour global trade war is one of the biggest risks to investment returns over the next decade. Indeed, politicians are already succumbing: according to the Global Trade Alert initiative, the number of protectionist measures enacted [...]
Many Britons have a considerable interest in taking out a Lifetime Isa October 24, 2016 Londoners are keen to enrol in a Lifetime Isa (Lisa), with almost three-quarters wanting to use them to save for the future according to the latest research. If they could, 72 per cent of residents under the age of 40 in the capital would open a Lisa, with over one-third (37 per cent) ready to open one straight away. Although [...]
Online broker TD Ameritrade in $4bn takeover of rival Scottrade October 24, 2016 TD Ameritrade has agreed a $4bn (£3.2bn) deal to acquire Scottrade Financial Services, bringing together two online brokerage giants. Under the deal, TD Ameritrade’s biggest shareholder, Toronto-Dominion Bank (TD Bank), will acquire Scottrade’s online bank for $1.3bn in cash. Read more: Interactive Investor in takeover to form UK's second largest online broker Immediately after that [...]
Half of employees want workplace to take them back to school on finances October 24, 2016 Brits are routinely left scratching their heads over how best to save their money, and they're calling on their employer to help out, research released today has found. Just under half (46 per cent) of workers want their employers to offer them financial education, while a similar proportion (49 per cent) feel their workplaces could do [...]
As a standalone product, the Lifetime ISA is of little use to Londoners October 24, 2016 If it sounds too good to be true, it probably is, as the old adage goes. If someone offered you free money, the first thing you’d ask is: “what’s the catch?” So when the government says it’s willing to give you up to £1,000 a year, for up to 32 years, it’s certainly worth taking [...]
Unite to begin balloting Gatwick staff on strike action over closure of pensions scheme October 20, 2016 Unite has announced it will begin balloting 1,800 members for strike action next Friday over the closure of Gatwick’s final salary pension scheme. Surface transport workers, firefighters and security officers are to be balloted, following a 96 per cent vote in favour of doing so in a recent consultative ballot. It will close on 16 [...]
How technophobe wealth managers risk being left behind by rivals October 20, 2016 Technophobe wealth managers have been told to get with the times or face being left behind by rivals, a new report out today warns. Groups including Brewin Dolphin, Munnypot, Nucleus, SEI and Sesame Bankhall Group contributed to the MRM report, which warns that firms could lose assets and customers by not investing in digital. Read [...]
Decide the rules and then leave them alone for at least 10 years, the government is told October 20, 2016 The boss of a leading financial adviser has made a direct appeal to the government to "simplify and stabilise the UK savings system". Andy Bell, the chief executive of AJ Bell, wrote to both chancellor Philip Hammond and pensions minister Richard Harrington to urge them to set up a new independent pensions tax commission whose recommendations would be set [...]