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As another year comes to an end, it is a good time to reflect on 2014 and what the year will be remembered for in the world of financial services.
In one word 2014 will be remembered as the year of “Pensions”.
No one predicted the radical changes the Chancellor announced in March’s budget however this has become the most commented on piece of legislation in recent times. With last week’s Autumn Statement providing the final pieces of clarity to the legislation, Taylor Patterson will shortly be issuing a special bulletin which will summarise all the key points.
The FCA also announced its long awaited decision on capital requirements for SIPP Operators. Whilst these rules are not in force until 2016, Taylor Patterson is in a strong position as it already meets the new requirements.
From Taylor Patterson’s viewpoint, 2014 will be remembered as the year we were proudly awarded the Financial Services Team of the Year by the Red Rose Awards. This truly was recognition for every member of the team as they have stayed true to our values of “Fair, Fun and Rewarding for All” during a period of substantial change for the industry.
With 2015 fast approaching, freedom and choice in pensions will become law in April along with a substantial rise in the number of SMEs having to comply with the workplace pension legislation. In addition, with the general election in May, there will be even more reasons to ensure that your financial planning and pension aims are reviewed. We are very much looking forward to meeting with our clients and contacts to discuss all of these changes.
From everyone at Taylor Patterson may we thank you for your support during 2014. We would like to wish you and your families a very happy Christmas and we look forward to working with you during 2015.