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Six mini-revolutions from Open Banking which Space clients should look out for

Six mini-revolutions from Open Banking which Space clients should look out for

From January next year, British consumers will be given effective ownership of their own banking data and with the ability to give permission for it to be used by other financial services firms. The EU-wide initiative is being enthusiastically embraced by the UK. While potentially very empowering for consumers, the UK Government is also driven […]

Ten big discussion points from Space Money Talks “Financial Advice in a Digital World”

Ten big discussion points from Space Money Talks “Financial Advice in a Digital World”

We think it is safe to say that a large number of IFAs do not want nor indeed believe they need to embrace digital advice. The reasons – spelled out very clearly by Plan Money’s Peter Chadborn at our recent debate entitled “Financial Advice in a Digital World” – are clear. The prize […]

How do we measure robo-advice?

How do we measure robo-advice?

Measuring robo-advice is not easy to do at least not yet. Global consultancy A.T. Kearney may have hogged the headlines when it suggested that US low-cost robo-advice will have led to a spectacular $2.2 trillion being invested within the next five years. Yet it is probably wise not to read across too much to the […]

Not as much help to buy as we thought?

Not as much help to buy as we thought?

Financial services firms have learned through hard won experience not to promise more than they can deliver to customers and clients. Yet the news this summer suggests an important segment of new customers may be about to get rather annoyed, although perhaps they should be directing their ire at the government this time. The Telegraph […]

FAMR: do we ignore it at our peril?

FAMR: do we ignore it at our peril?

That was the title of the latest Space Money Talks debate. This time we didn’t just put the question to a hand-picked panel of industry leaders, we also gave our 60-strong invited audience a chance to air their own views on this thorny topic. And whilst the answer to the question from most contributors was […]

Get your financial advice here. No sum too small!

Do we need to question one assumption about the IFA market, that they won’t advise on small pots? The FCA survey of 233 adviser businesses suggests that surprisingly few advice firms have a minimum threshold on clients’ investable assets and that most advisers are reaching further down the market than might be expected. This is […]

The answer is 42%. Now what’s the question?

Advisers are always keen to know what their peers are doing in terms of business strategy and how that strategy fits with their overall approach to providing advice. Providers, who wish to maintain or win market share, are always eager for intelligence about the market too. The FCA has now provided some valuable intelligence with […]

What do you really think of the FAMR?

What do you really think of the FAMR?

A damp squib, a stitch-up for the banks to steal market share, or a blueprint for the next ten years in financial services? The Financial Advice Market Review has certainly divided opinion more starkly than anything since the RDR. That’s why it’s an ideal candidate for the latest Space Money Talks forum. And this time, […]

Challengers versus the High Street banks – David versus Goliath or a different kind of battle?

It seems like a new challenger bank enters the UK banking market just about every other month. The total since 2013 is 16 new banks receiving banking licences and there could be more if you extend the definition to include the likes of TSB. This new competitive environment could very easily be characterised as David […]

Are we sleepwalking into a Robo-Advice nightmare?

Are we sleepwalking into a Robo-Advice nightmare?

In the midst of the current industry debate about the pros and cons of Robo-Advice is there a potential nightmare scenario that hasn’t received the attention it should? Namely, that with Robo-Advice you risk creating a system of automated mis-selling. The ‘classic objection’ to Robo-Advice from many advisers simply states that human interaction is essential […]