Bento Bulletin

Please find below the most recent articles from our Panacea Bento Bulletin.

To read articles from a previous issue, click on the issue number which will open up a full list. Click on an article's link to read the full story.

Those article links with an asterisk next to it (*) denotes that issue's lead story.

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Bento 1021: FOS compensation hike. Hand me the black cap, will you.
20 Mar 2019

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We highlighted in November the need for firms to respond to an FCA consultation on a proposed FOS compensation limit hike of 200k taking the maximum pay-out to £350k.

It was announced with very little time to respond.The consultation opened 16 Oct and closed 21 Dec so slightly over two months. 

Just one hundred firms, including Panacea responded

 
 
   
 
 
 
 
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A serious accident or an illness that requires a lengthy stay in hospital, even in intensive care, can have long lasting physical and financial effects, including an emotional impact on your client and their family.
 
 
   
 
 
 
 
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Attempts to reduce the harmful impact of human existence on the environment are not new. The environmental or ecology movement has its roots in the 19th century. But it is only relatively recently that the political and social mainstream has paid it more attention.
 
 
   
 
 
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Register for our next webcast with Richard Woolnough, fund manager of the M&G Optimal Income Fund, where he will share his latest macroeconomic thinking and how this is impacting the funds positioning. The webcast is on Tuesday 26th March at 10am. 
 
 
   
 
 
 
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Ed Smith, Rathbones head of asset allocation, looks at the savings shortfall younger generations are likely to face when they reach retirement, and what advisers and their clients can do about it.
 
 
 
 
 
 
 
 
This update covers:1. You've done your CPD, but are you competent? 2. Expected solutions for R06 and AF5
 
 
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Are your clients concerned about potential stockmarket upheaval this year? Nick Dixon, Aegon’s Investment Director, gives his top five investment predictions for 2019.
 
 
 
 
 
 
 
 
To help you meet the challenges of the Insurance Distribution Directive (IDD) - which requires everyone selling insurance to do at least 15 CPD hours per year - we’ve created a CPD hub.
 
 
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Bento 1020: The Brexit unknown
18 Mar 2019

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British politics has faced a turbulent week: three nights of Brexit votes, a Spring Statement and a downgrade to economic growth.

Market prices have swung on each twist as investors attempt to digest a constantly shifting set of possible outcomes. 

 
 
   
 
 
 
 
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Diversity, inclusion and representation in the workplace has never been a hotter topic than it is today, but why is that? 
 
 
   
 
 
 
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Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs). 
 
 
 
 
 
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Can you have your cake and eat it? Many investments, including equities, appreciate in value while also generating some income. You can reinvest your income to boost your long-term returns or you can withdraw it – leaving less left in the pot.
 
 
   
 
 
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This document reviews the service provided by DFMs, as rated by financial advisers. Broadly, the emphasis that advisers have put on the importance of each category of satisfaction is similar to last year.
 
 
   
 
 
 
 
 
 
 
The value of Seneca - applying a value ethos across a range of assets: why restrict good thinking to just one asset class when it can be applied to many?
 
 
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Each guide is written in simple, jargon-free language. We’re careful to explain both the potential downsides and upsides of investing. And because they’ve been fully reviewed by our compliance teams, you can put each guide in front of your clients with complete confidence.
 
 
 
 
 
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What are the prospects for bond markets for the rest of the year and where are the opportunities? the Henley Fixed Interest team give their view on recent market developments and where they are seeing value in this Q&A. 
 
 
   
 
 
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If you take out a joint life policy that pays out when the first person becomes ill or dies, the policy will end when you receive the pay-out. This will leave the second person covered by the policy without any cover for the future. But does the pay-out mean they are financially secure for life?
 
 
   
 
 
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Bento 1019: When the Wheel of Life lands on a heart attack
15 Mar 2019

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Nobody can predict if or when a heart attack might strike. But what’s most important to know is that if it does happen, the protection your client bought is going to pay out when they need it most.

Most providers ask for detailed medical reports and evidence so they can assess whether a heart attack diagnosis is serious enough to meet their own criteria for paying a claim. This can cause delay and could result in no payout, with the outcome entirely in the hands of the insurer.

 
 
   
 
 
 
 
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Here at Seneca IM, we understand that investors are having to search wider for an attractive income in their ISA. This is where our Diversified Income Fund can deliver.
 
 
   
 
 
 
 
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Nothing hurts more than expecting a cheque yet receiving a bill. Unfortunately, this is happening to millions of Americans right now, explains chief investment officer Julian Chillingworth.
 
 
   
 
 
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This independent publication provides financial advisers with insight to help them benchmark their own personal experiences of individual pensions providers with those of their peers, enabling them to select partners based on service criteria.
 
 
   
 
 
 
 
 
 
 
Landlords - like any other business owner - need to make provision should the very worst happen, to protect their families and their lifestyle.
 
 
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Register for M&G and Sharing Alpha’s webcast with Alex Araujo, Fund Manager of the M&G (Lux) Global Listed Infrastructure Fund on Tuesday 19th March at 2pm. During the webcast, Alex will discuss the opportunities he sees in the infrastructure sector and will be answering questions from the audience.
 
 
 
 
 
 
 
 
Take a look at Aviva’s handy new guide to apprenticeships to find out how recruiting an apprentice could benefit your firm. Take a look at Aviva’s handy new guide to apprenticeships to find out how recruiting an apprentice could benefit your firm.
 
 
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Bento: 1018: How sustainable income levels can protect portfolio strength
12 Mar 2019

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Taking a sustainable level of income is important in helping drawdown customers maintain a resilient portfolio during periods of investment volatility.
 
 
   
 
 
 
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Watch our webinar to hear Elaine Cruickshank, our Tax and Trusts Manager, unravel the complexities of trust and IHT planning and spot new business opportunities.
 
 
 
 
 
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Like other relevant life insurance products, ours provides a tax efficient death-in-service benefit for business owners and key employees. 
 
 
   
 
 
 
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To aid your client conversations, download FundsNetwork’s guide 'Explaining how pension withdrawals are taxed'.
 
 
 
 
 
 
 
 
In this month's multi-asset views we discuss the potential for modest gains in risk assets, while remaining mindful that economic growth is weakening.
 
 
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Watch this month's video where Ritu Vohora, Investment Director, offers some key takeaways following the latest round of quarterly earnings announcements. 
 
 
   
 
 
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When it comes to talking to your clients about protection, we know you can typically run into some obstacles along the way. One of the common objections you might come up against is that your clients think it’s easier and cheaper to go online and do it themselves.
 
 
   
 
 
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Bento 1017: To succeed you must believe in yourself... really?
8 Mar 2019

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It is so easy to think we have things figured out in life and without someone to robustly challenge our assumptions we just continue to think them – at times to our cost.

This is one of the reasons coaching is so powerful. You have someone totally on your side and yet, at the same time, they will call you out.

 
 
   
 
 
 
 
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I find the carry forward rules for the pensions allowance confusing, especially for clients who are subject to tapering. What are the key considerations?
 
 
   
 
 
 
 
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China lowers its 2019 growth target to 6-6.5%, but so far no signs of mega stimulus from National People’s Congress
 
 
   
 
 
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NS&I research has shown the enduring influence of our parents on building long term savings habits and the financial as well as emotional bonds between the generations.
 
 
   
 
 
 
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To help you meet the challenges of the Insurance Distribution Directive (IDD) - which requires everyone selling insurance to do at least 15 CPD hours per year - we’ve created a CPD hub.
 
 
 
 
 
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Financial services regulation continues to present major compliance challenges and business opportunities for advice firms. Suitability reports are one of these challenges that financial planning tools can help with.
 
 
   
 
 
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We expect that the Fed will eventually adopt a “wait-and-see” strategy this year, with at most one more rate hike in 2019.
 
 
   
 
 
 
 
 
 
 
The European Equities team look at what is driving investor sentiment, how recent economic data will impact long-term growth, and which areas of the market look most attractive.
 
 
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Wealth & money management awards
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Bento 1016: Future of the Euro Zone
6 Mar 2019

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The received wisdom on the euro zone is that it needs to become more tightly integrated to survive. To ensure the resilience of the monetary union, fiscal transfers to peripheral economies and risk-sharing via the mutual issuance of Eurobonds are necessary and perhaps inevitable. 
 
 
   
 
 
 
 
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Many financial advisers have preconceived ideas when it comes to offshore bonds and the type of clients they may be suitable for. However, the changing landscape and new breed of bond solutions are opening up greater opportunities, helping build renewed interest and traction in this market.
 
 
   
 
 
 
 
 
 
 
Ed Smith, Rathbones head of asset allocation research, debunks the myth that millennials have themselves to blame for the challenging financial futures they face, and provides a dose of reality for advisers and their clients of all generations to consider.
 
 
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What’s the news in protection? On the surface you could be forgiven for thinking there isn’t anything new, that protection is still generally being overlooked and undervalued.
 
 
 
 
 
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Our 3rd London Conference is being held at Merchant Taylors' Hall on Threadneedle Street, on Thursday 28th March 2019.
 
 
   
 
 
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With many providers offering similar products, service is now often one of the key differentiators for advisers. As part of Defaqto’s protection service satisfaction survey, advisers ranked ‘claims handling and administration' and ‘new business processing’ the most important aspect of service.
 
 
   
 
 
 
 
 
 
 
To help your clients understand the importance of maximising their pension contributions, check FundsNetwork’s factsheets on annual allowances and carry forward.
 
 
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Mark Barnett, Head of UK Equities speaks about the UK equity market and how it is an attractive place for the long-term investor. Read more about, opportunities in domestic stocks, and his long-term investment approach.
 
 
 
 
 
 
 
 
NS&I has announced that it is increasing interest rates on both its Junior ISA and Direct ISA. Interest rates paid on Junior ISA will be increasing by 75 basis points from 2.50% AER to 3.25% AER.
 
 
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Bento 1015: Ethics matters
4 Mar 2019

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”Real integrity is doing the right thing, knowing that nobody's going to know whether you did it or not.” – Oprah Winfrey.

Financial advisers are fiercely proud of what they do and since RDR, most are 100% fee-based businesses. All are professional and most aspire to be treated as a profession. 

 
 
   
 
 
 
 
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In the last 15 years, world clothing production has almost doubled, with more than 300 million people employed along its value chain. However, the growth of this huge industry has come at a significant cost, and there is now increasing awareness of its outsized environmental and societal impacts*.

 
 
   
 
 
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Scottish Mortgage is the UK’s largest investment trust. Join joint managers James Anderson and Tom Slater, as they discuss why they believe that it is the impact of a very small group of exceptional companies leading fundamental change in industry, the economy and society that is driving returns for long-term investors. 
 
 
   
 
 
 
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Seneca IM’s Head of Business Development, Stephen Hunter speaks with Peter Elston, CIO, as they discuss his outlook for 2019 as well as the reasons for a late 2018 “Kaboom”. 
 
 
 
 
 
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FundsNetwork's guide to pension and ISA allowances can help support your conversations with clients at this time of the year. It sets out the key information your clients may need about tax, to understand how they can make the most of their savings.
 
 
   
 
 
 
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Relevant Life Insurance could be an important financial planning solution for small businesses. It’s a tax efficient way of providing a death-in-service benefit and doesn’t contribute to the policyholder’s pension lifetime allowance. 
 
 
 
 
 
 
 
 
Back in 2017, the government reduced the number of employee benefits that would have previously attracted tax savings when arranged through salary sacrifice schemes.
 
 
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Brexit uncertainty appears to have hit sentiment for UK property, but while certain sentiment indices have led to gloomy headlines, actual home price results have been much better.
 
 
 
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Bento 1014: Are trade associations becoming irrelevent?
1 Mar 2019

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Are trade associations becoming irrelevant? 

Generally, I avoid reading Nic Cicutti’s contributions in Money Marketing. I have low blood pressure and I like to keep it that way. But last week, he embarked on a personal attack on myself and Libertatem so I thought it prudent to respond...
 
 
   
 
 
 
 
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Open to new and existing customers, we have a great ISA offer your clients can take advantage of in the run-up to tax year end.
 
 
   
 
 
 
 
 
 
 
Almost two hours late and on his third pair of trousers, our head of multi-asset investments, David Coombs, isn’t in the mood for half-baked equivocations by UK company managers.
 
 
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You can’t predict the future, but you can help your clients plan for it. In the changing world of retirement, fixed term annuities can provide the right balance of security, flexibility and control for some clients. 

 
 
   
 
 
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Low inflation and disciplined central banks in much of the world is especially good news for emerging markets.
 
 
   
 
 
 
 
 
 
 
As breakthroughs in nutritional science challenge assumptions that have driven global food producers to create products loaded with salt, sugar and hydrogenated fat, the industry looks ripe for disruption.
 
 
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Discover M&G’s new multi asset approach to sustainable investing in this short video with Maria Municchi, Fund Manager of the recently launched M&G Sustainable Multi Asset Fund.
 
 
 
 
 
 
 
 
Business continuity and succession planning may not be high on the priority list of many businesses. But how would a business cope financially if it lost a key employee?
 
 
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Bento 1013: Invest in Progress
27 Feb 2019

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Scottish Mortgage is the UK’s largest investment trust. Join joint managers James Anderson and Tom Slater, as they discuss why they believe that it is the impact of a very small group of exceptional companies leading fundamental change in industry, the economy and society that is driving returns for long-term investors. 

 
 
   
 
 
 
 
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The results of our annual platform service review are now available. The survey asked financial advisers to rank the most important aspects of service and then rate their own experience of platform providers. 
 
 
   
 
 
 
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Never has it been more important to clearly demonstrate the value of advice. Peace of mind is hard to quantify. The amount of tax saved is not.
 
 
 
 
 
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The equity release market continues to grow at a rapid rate. With new lenders entering the market with new and innovative product features, there’s now even more lifetime mortgages can do to help your clients with their retirement finances.
 
 
   
 
 
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Last week brought disappointing data from several countries. This week, Kristina Hooper Global Market Strategist expects the FOMC meeting minutes to be the most important event for markets. 
 
 
   
 
 
 
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What we think of as sustainable investing has developed significantly over many years and is now a key item on the agenda. 
 
 
 
 
 
 
 
 
Does investing responsibly mean sacrificing returns? Such a seemingly simple and innocuous question can cause all manner of confusion.
 
 
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Curtis Banks has launched Your Future SIPP alongside a brand new website today at curtisbanks.co.uk.

You can find all the old product literature for Curtis Banks and Suffolk Life products on there, and much, much more.

 
 
 
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Bento 1012: What it really takes to conduct exceptional client conversations
26 Feb 2019

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The quality of your client conversations is the most important part of the relationship you build with them because they form the foundation of everything else that follows.
 
 
   
 
 
 
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With Brexit on the horizon, we understand that you and your clients may have questions about the various scenarios that may occur. 
 
 
 
 
 
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The outlook for European stocks appears more mixed than a year ago -- with similar potential for both very good and very bad outcomes based on the macro environment.
 
 
   
 
 
 
 
 
 
 
In the Bond Beats short film series, Baillie Gifford’s High Yield Bond team explains the thinking behind some of their investment decisions. What does the White House’s china crockery have in common with Mercedes car seats and biodiesel?
 
 
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Stocks just had their best January in three decades, on the heels of the worst December since 1931. However, should investors now be bracing themselves for a politically turbulent March, given the looming US-China trade talks and Brexit deadline?
 
 
   
 
 
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As you are no doubt aware, sending sensitive, personal data by normal email leaves you open to cyber-crime and may contravene legislation.
 
 
   
 
 
 
 
 
 
 

Critical illness definitions to cover early forms of cancer.

Cancer is the single biggest critical illness risk we all face. Cancer Research UK estimates that one in two people in the UK born after 1960 will be diagnosed with cancer during their lifetime*

 
 
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