Bringing you live news and features since 2006 

Clapton suggests IFAs ignoring potential business


An accountancy practice specialising in financial advisers, Clapton Consultants, has responded to an industry survey from The Pensions Regulator suggesting that the level of interest in auto-enrolment among financial advisers has fallen markedly over the last 12 months. 

The survey revealed that a growing number of advisers no longer view auto-enrolment as a business opportunity. Clapton writes that HM Treasury recently issued an open consultation entitled ‘Introducing a Pensions Advice Allowance’ which suggests there are further opportunities for accountants and IFAs to explore in this area. 
“The consultation document suggests that the tax free pensions’ allowance of GBP500 per individual may be used in conjunction with the tax exempt allowance of GBP500 for employer arranged advice.  This provides a maximum tax advantaged allowance for retirement advice of GBP1,000 per pension member.  The measures are scheduled to be in place by April 2017” the firm writes.
Eric Clapton, MD of Clapton Consultants says: ‘Government strategy is to use employers as a conduit to provide financial advice to many more people.  Plugging the advice gap is a major objective and HM Treasury is willing to sanction tax breaks to achieve that aim.
“Every accountancy practice has business clients who are affected by auto enrolment legislation. Collaboration between accountants and regulated advisers will maximise the commercial reward afforded by this government sponsored opportunity. Notwithstanding the fact that margins on workplace pension advice are under serious downward pressure, ignoring this area of business could be a costly mistake.”

Latest News

Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..

Related Articles

Jigna Gibb, Bloomberg
Bloomberg Indices has recently hired Jigna Gibb as Head of Commodities and Crypto Index Products, to lead its commodities and...
Robert Minter, director of ETF investment strategy at abrdn takes a look at passive investing in commodities and shares his...
Ryan McCormack, Invesco
This year sees the 25th anniversary of Invesco’s QQQ, the USD240 billion ETF – the fifth largest ETF in the...
The European ETF market achieved a record 28 per cent growth – reaching over USD1.8 trillion assets under management (AUM)...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by