Firstly, a big thank you to everyone who entered the IFAonline Big Quiz 2013. Now, we can reveal the answers... and the super-smart winner of a Kindle Fire HD.
Several entries shared the highest score in the quiz, but the name we picked out of a hat (actually some tupperware) was... Chris Spear, the owner of Spear Financial in Derby. Congratulations Chris, we'll be in touch.
The answers to our 20 questions appear in bold below. Click on the winner to read the related story.
'Til next year.
Revealed: The answers to (and winner of) the IFAonline Big Quiz 2013
1) Whose knighthood in the 2013 New Year's Honours List prompted one Conservative MP to declare: "A knighthood is becoming almost as debased a currency as the British pound".
A Sir Fred Goodwin
B Hector Sants
C James Crosby
2) The sole IFA at a practice in Dorset calculated in January what he believed preparing for the RDR had cost him. His tally included charges for a compliance audit and sitting exams. How much did he say he'd spent directly on RDR?
B £15,001- £30,000
3) According to research published by recruitment firm BWD in February, employed advisers' average earnings for 2012 were just under £63,000. But what was the approximate figure for self-employed advisers?
4) In February, the (then) FSA helpfully listed advisers' most common RDR-related questions and provided the answers. Questions about independence were frequent. Which of the following would not be classed as a ‘relevant market'?
C Ethical investments
5) The threshold at which people will begin to pay income tax will rise to how much next year (2014), as announced at Budget 2013?
6) In a move we're sure came as a bit of a shock to some readers, FCA chief executive Martin Wheatley had some words of praise for advisers earlier this year. Complete this quote: "Typically [advisers] don't treat clients like...
C "A way to make profits"
7) Wheatley again: In March, the FCA head honcho said regulators would be monitoring which social media site for signs of mis-selling?
8) Interesting figures emerged in April: From a total of 227,000 applications for jobs in the financial sector in the six years since the banking crisis emerged, how many were rejected by the FSA?
9) The Sunday Times rich list, published in April, featured both of Hargreaves Lansdown's co-founders. Peter Hargreaves, who was listed at 90 in 2012, was in 47th place. But where did Stephen Lansdown finish?
10) It was one of the biggest financial scandals to emerge in 2013. HMRC issued an alert on pension ‘liberation' schemes in the spring, pointing out that the potential tax charge on savers who agreed to ‘unlock' some or all of pension cash is...
11) The FCA's long-awaited final rules on platforms were published this year. From April 2014, platforms must be paid for by a platform charge disclosed to and agreed by the new investor. But how long will platforms have from that point to ensure they charge existing customers in this way too?
A Six months
B 12 months
C 24 months
12) Everyone knows this stat: IFAs are responsible for just 1% of complaints handled by the FOS. But what approximate percentage of the complaints handled in 2013-2014 was found in favour of the adviser?
13) We knew it'd be popular. In May, we ran some questions from an old ('94) CII paper to see how advisers would fare. Here's a question that confused some readers (presumably because a lot's changed since): What effect will high inflation rates generally have on wage-earners?
A They will suffer like anyone else, because their wages will not buy as many goods;
B They will suffer, but not as much as most people because their wages will tend to increase to offset part of the increase in prices;
C None at all. Their wages are likely to increase exactly in line with price inflation;
D They will probably benefit, as wages tend to rise faster than prices, and some of their expenses will be fixed costs.
14) In June, network giant Sesame was fined more than £6m by the FCA for advice given by its appointed representative (AR) firms on Keydata. But what approximate proportion of the total UK advisory market is made up of advisers working within Sesame ARs?
15) That wasn't the only big advice-related fine of the year. How much was Axa Wealth Services fined in September for investment advice failings?
16) It was announced this year that Anthony Bolton is to retire from portfolio management in 2014. Over the three years to the announcement in June, how had his £740m Fidelity China Special Situations trust performed?
17) In July, the FCA published its first findings on firms' compliance with RDR. It was generally pleased, but which charging structure did it say it had some concerns about?
A Percentage of assets invested
B Hourly rate
C Flat fee
18) Auto-enrolment has been a big 2013 talking point. What percentage of employees did NEST say had chosen to opt out in its first full year (to September)?
19) Adviser numbers have been steadily replenishing since the start of the year, according to the FCA. How many more ‘financial advisers', approximately, were there in July 2013 compared with December 2012?
20) OK, so this last one is a bit cheeky, but which of the following do you suspect was the most read story on IFAonline.co.uk in 2013?
A The ten best adviser websites
B The RDR Files: Ten things the FCA has noticed since 1 Jan
C ‘I lost clients to a cheaper adviser'
Investment Association to create new labels
Among the most shorted stocks in the FTSE 100
Covering five topics