Good morning and welcome to your Morning Briefing for Thursday 4 January 2024. To get this in your inbox every morning click here.
AIFMR changes could ‘liberate’ investment managers
Alternative fund services provider Ocorian has said there could be a potential “seismic shift” in the landscape of investment regulations.
The proposed amendments to the Alternative Investment Fund Managers Regulation (AIFMR) could reclassify UK listed investment companies.
This, Ocorian said, would impact nearly a third of plcs listed on UK exchanges.
Will sequence risk trip up today’s retirees?
There are few things more depressing than the thought of running out of money before we reach the end of our lives, writes Robin Powell, editorial consultant to Sparrows Capital.
But with people living longer, and increasingly likely to require care in later life, that’s a very real prospect for many.
Here, he looks at whether a sequence risk will trip up todays retirees.
Verve Foundation reignites Adviser Incubator programme
The Verve Foundation has reignited its Adviser Incubator programme with four new cohorts in 2024, following the success of its pilot scheme last year.
The business will run two cohorts of the full 12-week programme and two cohorts of its new mini seven-week programme.
The full programme is designed for those who have decided to open their own business via direct authorisation or as an appointed representative.
Quote Of The Day
Getting more money into people’s pockets is key, and thawing the frozen income tax thresholds could help considerably.
-Rachael Griffin, tax and financial planning expert at Quilter, on rumours income tax thresholds could be cut in the Spring Budget
Stat Attack
Fundsmith Equity dropped further down the list of most-bought funds on Interactive Investor in December 2023, as passive and income strategies continued to take centre stage.
Top 10 most bought investments on Interactive Investor in December 2023
| Rank | Fund | Investment trust | Equities |
| 1 | Royal London Short Term Money Mkt | Scottish Mortgage | Rolls Royce Holdings |
| 2 | L&G Global Technology Index | JPMorgan Global Growth & Income | Petrofac |
| 3 | Vanguard LifeStrategy 80% Equity | Greencoat UK Wind | Vodafone Group |
| 4 | Fundsmith Equity | City of London | Anglo American |
| 5 | Jupiter India | BlackRock World Mining | Glencore |
| 6 | HSBC FTSE All-World Index | 3i Group | Lloyds Banking Group |
| 7 | Vanguard LifeStrategy 100% Equity | Pershing Square Holdings | British American Tobacco |
| 8 | Vanguard US Equity Index | Polar Capital Technology | BP |
| 9 | Vanguard FTSE Dev World ex-UK Equity Index | India Capital Growth | Tesla |
| 10 | Vanguard FTSE Global All Cap Index | Alliance Trust | Legal & General |
Source: Interactive Investor
In Other News
LiveMore, the mortgage lender for people aged 50 to 90 plus, has appointed Les Pick as director of intermediary sales.
He will be responsible for supporting mortgage brokers and financial advisers so they are better equipped to deliver excellent consumer outcomes in an increasingly complex market.
He will work with LiveMore’s strategic partners to drive up distribution volumes through education, strong relationships and hands-on support.
Pick has more than 25 years of experience working with some of the biggest names in later life lending, starting as a financial adviser for Aviva in 1998.
He set up and ran an IFA practice in Dorset before exiting to concentrate on his later life lending career.
Since then, he has been national sales manager for a large equity release advice firm and has run award-winning sales teams in the later life lending marketplace.
UK debt chief warns excessive borrowing risks investor backlash (Financial Times)
UK executives urge BOE to cut rates after confidence sinks lower (Bloomberg)
FTSE 100 bosses earn typical UK annual salary in three days – thinktank (Sky News)
Did You See?
Only 7% of divorcees consult a financial adviser during the separation process, new research from Legal & General (L&G) has revealed.
This is despite two-fifths feeling that an equal situation was not reached financially.
L&G said not speaking to an adviser can have “long-term implications”.
The findings also showed that only 31% of divorcees signed a clear break order, which protects an individual from being liable to future claims from their ex-spouse.
Read the full story here
