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Protection

A Young Adult’s Guide to Buying a House

For someone who has been working for a few years or has graduated and has a steady career, the next big financial goal is usually a home of his or her own. Much press coverage has talked about the “Boomerang Generation”, (offspring returning to the family home every few years, driven by unemployment, poor health or a bad partner choice),…

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Victim of Financial Fraud: Tough!

One thing the Pension Freedom changes have brought out of the woodwork is fraudsters; suddenly there is a significant number of people with cheques for tens of thousand of Pounds and no clear idea of what to do with it. They generally do not have a relationship with a regulated financial adviser and have no history of paying for financial…

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Are you scammable or scamproof?

According to the Association of British Insurers, (ABI), some £1.8Billion has been released in the last few months following the pension changes known as Pension Freedom. (http://www.expressandstar.com/business/uk-money/2015/07/14/1-8bn-withdrawn-amid-new-pension-cash-freedoms/). The Pensions Regulator, (TPR), is very worried about the opportunity presented to fraudsters by Pension Freedoms as it has potentially created a new cohort of potential fraud victims with relatively large sums of…

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Should I get nervous about the Greek problems?

Almost all of the national press money pages had some comment on the Greek crisis and its likely impact on UK citizens. One article in the Telegraph explored the likelihood that the mortgage rate could change as a consequence. Summarising the article, it could send mortgage rates up or down, depending on the scale of the Greek default, whether it…

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Why do I need protection cover?

Many people’s first contact with a financial adviser is a discussion about protection insurance, usually as part of a mortgage transaction. Rarely, parents send their recently employed offspring to us to try and get them to save or get protected before something goes wrong, although this is a trend I would like to encourage. Protection insurance is all about using…

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The cyber fraud that might steal your property money

Although many people have heard of e-mail based money scams, some of the more sophisticated scams are not common knowledge, although IT security professionals have been warning about them for years. An article in the Saturday Telegraph, (http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/11605010/Fraudsters-hacked-emails-to-my-solicitor-and-stole-340000-from-my-property-sale.html), gave horrifying details of a property transaction gone wrong, when the proceeds of a £340,000 London flat sale were transferred to fraudsters…

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Post Election Thoughts

Now the election is over and the results declared, it seems a good moment to ponder whether anything has changed. We still have a fractionally right of centre government with a stated mandate of fiscal responsibility but a huge public sector borrowing requirement. We have minimal inflation and minimal interest returns on cash and a Stock Market not too far…

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Pension Warnings

There have been a number of advertisements in the Press from the Financial Conduct Authority, (FCA), emphasising that properly regulated financial advisers will not cold call potential new clients. The potential cost of pension fraud to individuals is extremely high, with a recent article in the Daily Mail, (04/05/2015, http://www.dailymail.co.uk/news/article-3066637/Suicides-four-victims-pension-fund-scam-Dozens-marriages-said-collapsed-families-lose-homes-scandal.html), suggesting that the cost goes far beyond money, including suicides,…

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More Scams around Pension Freedom

Various newspapers and authorities are warning of a massive increase in potential financial crime around pension freedom. Today, the Daily Mail has warned that fraudsters are purchasing details including pensions and shareholdings, to target potential victims with assets but who are financially unsophisticated. The article, which can be found at http://dailym.ai/1xqCxM9, highlights the level of detail available for purchase and…

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A very brief Budget commentary

The weekend papers have been full of budget commentary as the last budget before the election was unveiled last Thursday. For most of us in financial services there has been few nasty shocks and certainly nothing as far reaching as the pension freedoms launched last year, but only now coming to fruition. As is usual, it is still too early…

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