It's not all bad news you know. This week: Buffett makes mistakes too, advisers take on the Eggheads, and McDonald's posts bumper Q3 figures...
There have been no signs of any France-style riots yet following the announcement the state pension age will be upped to 66 by 2020. It looks like people realise this is a necessary change and the extra year of saving may well help make retirement a little more comfortable.
Advisers who have previously attained a QCF level 4 qualification only need to "read a pamphlet or a chapter in a textbook" to become compliant, according to the CII. The organisation's communications director, David Ross, this week sought to quell some of the concerns around gap-fill and CPD, insisting IFAs will not necessarily have to take more exams.
The world of financial advice this week welcomed a new name to its list of high-profile figures. While he may not be qualified or regulated, Sir Alex Ferguson, it appears, has been helping his players make the most of their hard-earned wages. He said he has offered Wayne Rooney, as well as Manchester United stalwarts Ryan Giggs and Paul Scholes, financial advice "many times".
Existing financial adviser qualifications were this week compared to those of shift managers at McDonalds. Taken as an insult by many IFAs, it may actually be a compliment, given the fast food giant's performance recently. The firm this week reported revenues of $6.3bn in Q3, up 4% on last year. Those shift manager diplomas seem to be paying dividends.
Even the greatest financial minds can make mistakes: Warren Buffett admitted he potentially lost out on $200bn by buying textiles business Berkshire Hathaway in 1964. He claims he could have made much more had he bought a good insurance company instead. His investors won't necessarily be complaining, considering Buffett's many good decisions over the past few decades, but it gives everyone a bit more hope.
An advisory firm appeared on Eggheads this week, attempting to defeat the formidable quiz show champions and win £4000. While they did end up losing, "Small Fortune" did manage to beat one of the Eggheads and put up a strong fight in the final round, only falling short in sudden death.
Havensrock Thrive App
Don’t ‘leave it all on the pitch’
21 firms in total
PA360 2019 conference
Latest news and analysis