Jun is content editor at Nucleus and looks after all the pieces that appear on the Illuminate website alongside managing the wrap's PR activities and thought leadership pieces. She was previously at Citywire's New Model Adviser publication, initially as platforms reporter and later as news editor and has developed a good understanding of the advisory landscape.

Here is a short and sweet summary of the key points from the Autumn Statement from a financial planning perspective.

Money purchase annual allowance reduction

The government has announced it intends to reduce the money purchase annual allowance to £4,000.

The MPAA was reduced to £10,000 in April 2015 and in his first Autumn Statement, chancellor Philip Hammond said the government would launch a consultation on bringing it down even further.

We’ve rounded up the key news from September that affect advice firms in a bite-sized handy update for those of you who want to catch up but haven’t got the time to read every news article every day.

Regulation

Treasury consults over new advice definition

The Treasury has published a consultation on redefining advice so that it relates specifically to a personal recommendation.

In a fast-evolving industry, advisers need to stay one step ahead of the game, especially in a bid to beat the banks, robo-advisers and direct-to-consumer platforms with their big marketing budgets.

Although financial advice is the bread and butter for all firms, advisers must also think about business development and how to build a strong company that is fit for the future.

Click the PDF to find out how three advisers have prepared their clients' investment portfolios for a possible Brexit[ult_buttons btn_title="Download PDF" btn_link="url:%2Fwp-content%2Fuploads%2Fsites%2F2%2F2016%2F07%2FIlluminate_BrexitArticle1.pdf||" btn_align="ubtn-center" btn_size="ubtn-custom" btn_width="180" btn_height="45" btn_title_color="#ffffff" btn_bg_color="#f78f21" btn_bg_color_hover="#96857b" icon="Defaults-caret-right" icon_size="25" btn_icon_pos="ubtn-sep-icon-at-right" el_class="nuc-btn "]

Take a look at all the key announcements from today’s Budget that will affect you and your clients.

Although the initial atmosphere was quite subdued thanks to the last minute announcement that we would not get the long anticipated pensions tax relief reforms in this Budget, George Osborne delivered a bombshell with the unveiling of a lifetime Isa.

Here are today’s top announcements from the red box in short and snappy form. 

Young savers are disengaged over pensions but they need to be making provisions now. Advisers have a great opportunity to engage them on a light touch basis to guarantee a relationship that could become profitable for them in the future.

What I’m about to say may or may not surprise you. I am completely baffled and terrified about how to handle my finances.

I do know how to handle my disposable income, although some may argue over how much I spend on sushi and shoes, we all know that’s not what I’m talking about.

Although advisers will be paying less this year towards the FSCS levy, the fight to fix the funding model is more important than ever as an FCA review could lead to reform.

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Paying less is usually something that is celebrated no matter who you are.