After weeks of Woodford bashing, this weekend the focus switches.
The Sunday Times reports that a forgery and mis-selling allegation has been made against Regency Financial Planning, part of the St James’s Place network.
SJP takes a further hammering after research by the independent firm Candid Financial Advice compared it with Hargreaves Lansdown.
On a £1m pot, growing at 6% a year, an investor would lose 25.6% of their gains (£203,153) over a decade if they took advice from Hargreaves, including its annual investment review. The calculation is based on Hargreaves’s medium-risk portfolio, its most popular option for advised clients.
The SJP client would lose a whopping 43% (£340,743) if they held the firm’s most popular balanced portfolio.
The paper also reports an end to the 50-day delay in switching pensions, and examines how investors can profit by exploring the growing cohort of companies making plant-based food.
The Sunday Telegraph tells the tale of the buy-to-let landlord lumbered with £56k of debt after ‘zombie banks’ repossessed his property.
They also suggest that savers should ‘rethink where their money is’ before Boris Johnson is rubber-stamped as PM.
There’s a good tip about how families could cut their inheritance tax bills by thousands of pounds by using a little-known rule that allows them to adjust the valuation of the estate of a deceased relative if house prices have fallen.
Margaret Thatcher’s former Press Secretary Sir Bernard Ingham explains how he’s determined to live until the inheritance tax threshold rises in 2021.
The Mail on Sunday, bless it, drags Neil Woodford back into the limelight with the ‘bombshell’ revelation that his flagship fund may ‘NEVER’ reopen as a ‘devastating analysis’ reveals the depth of the crisis. You have to wonder how many Mail staffers had dibs in the Woodford Equity Income Fund…
They comment that now could be the time for investors to buy British; with the FTSE ailing since the Brexit vote, now some are predicting a ‘Boris bounce’.
There’s also quite an interesting piece about how the stranger behind you in the cafe could be emptying your bank account thanks to public wi-fi.