What will 2021 hold for the financial advice sector?
Industry players give their predictions on ESG, regulation, technology and tax
Aegon
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Review of financial advice in 2020
Industry players weigh in on the year that will be remembered ‘for its impact on people’s wealth’
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Just 8% of Brits received financial advice
But number of advisers slowly increasing
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Insurance giant sells off several European operations for €830m
It wants to concentrate on countries and business lines where it can ‘create most value’
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Pension withdrawals jumped in Q3
But only half of retirees aware of the money purchase annual allowance
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UK pensions dashboard launch pushed back to 2023
‘Every delay risks letting down a generation of savers’
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UK pensions lifetime allowance set to increase by 0.5%
And government expected to keep triple lock promise with 2.5% rise in 2021/22
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Should retirement pots be used to fund property?
‘Won’t be the last time that politicians cling to the power of pensions to solve the housing dilemma’
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Aegon Property fund resumes trading
Across the insured Life and Pension and retirement choices fund ranges
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Contingent charging ban set to go live
It is expected to trigger greater exodus of advisers from the DB pension transfer market
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Advisers continue exodus from DB transfer market
As over 190 firms gave up permissions in the last three months
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Pensions triple-lock set to stay for the time being
As UK government to pass ‘technical bill’ to keep manifesto promise