Nationals round-up: Investment trusts continued to get more publicity, while power of attorney, pensions, downsizing and fee-based advice all got a mention.
Investment trusts are the City's best kept secret. That's according to the Telegraph, which explained how the average investment trust has outperformed the average unit trust in every sector except one - Japan - over the past 10 years. The article cited the lack of commission for advisers as one of the reasons why they are ignored by the masses, although it did also note the split cap scandal from a decade ago, which devastated thousands of investors.
It may not exactly be earth-shattering news, but people really need to keep an eye on their pension schemes, especially as they approach retirement. The Sunday Express ran an extensive piece about the need to change risk profiles, explaining what lifestyling was and detailing how current market uncertainty affected the issue. One expert told the paper: "The 10 years before you retire is perhaps the most crucial period of all."
Power of attorney
Setting up and executing power of attorney is clearly a sensitive issue, and the Observer has recently been highlighting the problems faced by people, once they have been handed the power, in dealing with financial issues. Banks seem to be the biggest culprits when trying to smooth the process although any number of financial matters could be affected.
Fee charging advisers
Retail distribution review issues continued to get coverage with a piece in the Independent about fee charging advisers. The paper explained how the rules on remuneration will change and also detailed how consumers could get a head start and try to find professionals who only charge fees at the moment. Vouchedfor.co.uk was one of the resources readers were directed to.
There was interesting reading for any homeowners thinking of downsizing with some research showing how low variations in property prices in some areas may not make it worthwhile. The Mail on Sunday explained how, in the 25 local authority areas in England with the highest proportion of homeowners aged 55 or over, there was a £100,000 difference between the areas where trading down paid the most and those where it did not pay at all. Equity release was presented as an alternative option.
What made financial headlines over the weekend?
Q2 net sales dropped almost 50%
‘Important to have an anchor’
Lack of innovation for solutions