Mint Mobile lowers price, LinkedIn highlights hiring value, ISA changes announced: Mint Mobile reduces monthly price for new unlimited wireless customers, LinkedIn positions itself as a top hiring platform, and ISA rules update allows transfers and increased investment limit
Mint Mobile is offering a discounted price of $15 a month for new unlimited wireless customers, a decrease from the previous price. This reverse auction style announcement is part of Mint Mobile's efforts to help consumers during inflation. Meanwhile, LinkedIn is emphasizing its value as a platform for hiring professionals, particularly those who may not be actively looking for new jobs. In the world of ISAs, significant changes are coming, allowing savers to transfer funds between cash and stocks and shares ISAs, and invest up to £15,000 per year. However, some industry experts are expressing doubts about the impact of these changes, suggesting that they may not lead to the expected surge in activity.
New rule for ISA transfers gives savers more flexibility: Consider shopping around for the best cash ISA deals starting July 1st, and take advantage of extended £15,000 limit and ability to move freely between cash and stocks and shares ISAs.
The new rule allowing transfers between cash accounts and stocks and shares ISAs gives savers more flexibility to move their money based on changing interest rates. However, the cash component within stocks and shares ISAs may still earn very low interest or even none at all. Banks are reluctant to offer higher interest rates on short-term deposits due to the instant access nature of these accounts. Platforms are exploring ways to alter this, but it may take time. Savers should consider shopping around for the best cash ISA deals starting July 1st, as well as taking advantage of the extended £15,000 limit and the ability to move freely between cash and stocks and shares ISA. It's important to remember that you can still invest in separate cash and stocks and shares ISAs if you prefer. The new rules do not require you to put all your money into one investment wrapper.
Pension reforms causing uncertainty for retirees and providers: The end of the annuity requirement and introduction of a new pension pot guidance service bring uncertainty and potential costs for retirees and providers.
The pension reforms announced in the March budget, which include the end of the requirement to buy an annuity and the introduction of a new pension pot guidance service, are causing uncertainty and raising questions about implementation and cost. While the end of the annuity requirement is a significant change for retirees, the details of how the new guidance service will be delivered and who will provide it are still unclear, leaving providers concerned about the timescale and potential costs. The government's promise of free, impartial, and face-to-face guidance for individuals retiring with defined contribution pension pots is a welcome development, but the lack of information about its delivery is causing anxiety in the industry. The pension reforms also come at a time when interest rates on cash ISAs are low, and there are fees to consider when moving money between different types of investments. Overall, the pension reforms represent a major shift in retirement options, but the implementation details and potential costs are causing uncertainty for both consumers and providers.
New pension reforms in the UK may lead to incomplete or insufficient guidance for individuals: Consumer groups fear the rush to implement UK pension reforms by April 2023 could result in incomplete or insufficient guidance, potentially overlooking important topics like debt and longevity. Independent financial advisors are also calling for a limit on complaint timeframes to encourage new advisors and reduce stress on current ones.
Consumer groups have expressed concerns that the tight deadline for implementing the new pension reforms in the UK could lead to incomplete or insufficient guidance for individuals making crucial decisions about their retirement savings. The fear is that the pressure to get the service up and running by April 2023 could result in important topics, such as debt and longevity, being overlooked. While the government is committed to launching the guidance service by this date, it's expected to evolve over time, meaning that savers accessing it in the early stages may not receive the same level of detail as those who use it in the future. Additionally, independent financial advisors are calling for a limit on the length of time consumers can make complaints about past advice, arguing that the current lifelong liability is deterring new advisors from entering the industry and putting undue stress on current advisors.
Adviser Liability Time Limits: 15 Years vs. Ombudsman Service: Under law, advisers have a 15-year liability for complaints, but under Ombudsman Service, no such long stop exists, potentially exposing advisers to large claims decades after advice was given. Polls suggest most customers support a time limit.
Advisers have a liability to complaints under both the law and the Ombudsman Service, but there are time limits for when customers can make complaints based on when they could have reasonably known something was wrong with the advice. Under the law, there is a long stop of 15 years after the advice was given, beyond which no complaint can be made. However, under the Ombudsman Service, this long stop was not carried over, leading to potential serious implications for advisers, particularly those who have retired and are faced with large claims many years after the advice was given. This could result in significant financial losses for advisers in retirement. While some argue that this could be detrimental to consumers, particularly in cases where issues may take decades to emerge, proponents of a 15-year limit believe it will encourage more investment in the advice industry and lead to more provision of advice, ultimately benefiting consumers. A poll conducted by AFA found that three-quarters of customers surveyed thought it was reasonable to have a time limit for adviser liability. The FCA is optimistic about the implementation of this proposal, but alternative solutions, such as advisers asking customers to sign off on advice liability at certain intervals, are also being considered.
Effective financial planning during life milestones: Review past advice, make informed decisions, and consider ethical manufacturing when making purchases.
Effective financial planning and advice, especially during significant life milestones like retirement, is crucial for making informed decisions and ensuring satisfaction with the outcomes. Advisers can review past advice and help individuals make decisions about accepting the advice and signing off on it. Meanwhile, for those looking to invest and save, there are resources available to help make informed choices. Additionally, it's important to consider ethical and responsible manufacturing when purchasing high-end goods, as demonstrated by Quince.
New ISAs, pensions advice and IFA liability
Recent Episodes from Money Clinic with Claer Barrett
Can Stuart Kirk double his money in eight years?
How does one double a sizeable portfolio in under a decade? The short answer is by taking more investment risk - and in today’s episode one of the FT’s most experienced investment columnists weighs up the potential risks.
Stuart Kirk has set an ambitious financial goal to hit ahead of his 60th birthday — growing his portfolio from just over £500,000 today to £1mn by 2032.
Will he be persuaded to take a punt on flashy US tech stocks, dabble in alternative investments such as private equity, go for gold, or even gamble with cryptocurrency?
In the edited highlights from the FT Weekend Festival in London, host Claer Barrett invites Stuart to present his portfolio to the FT Money tent, before taking a grilling from inquisitive FT subscribers in the audience.
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
Money Clinic will be back in 2025 with new episodes. If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on X, Instagram and TikTok.
Want more?
Read Stuart Kirk’s recent Skin in the game columns, When will emerging stocks finally emerge?, The best way to invest in gold, and more
Listen to Claer and Stuart’s viral mini podcast episode, The Five Minute Investor from Money Clinic: What is a PE ratio?
Check out Claer’s column, What’s the chancellor’s next move going to be with my pension?
Listen to more episodes of Money Clinic, such as Investment Masterclass: The hunt for global growth stocks, Investment Masterclass: The case for investing in AI, and more.
Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Read a transcript of this episode on FT.com
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Best of Money Clinic: Investment masterclass: The psychology of money
‘If you can tell a good story,’ says Morgan Housel, ‘you’ll get people to line up and listen to you.’ In this episode of Money Clinic, Morgan shares some of those stories with host Claer Barrett and challenges us to think differently about our attitude to wealth and wealth creation. This episode is a repeat of a Money Clinic first published in January 2024.
More information on Morgan Housel and his books: https://www.morganhousel.com/
Follow Claer on social media @Claerb
Presented by Claer Barrett. Produced by Philippa Goodrich. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
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How “painful” will the Budget be for your finances?
With a £22bn ‘black hole’ in the public finances, the new chancellor Rachel Reeves has difficult decisions to make ahead of Labour’s autumn Budget next month. How might this hole be plugged, and where might tax rises land? In this episode, Dan Neidle, founder of think-tank Tax Policy Associates and former head of tax at Clifford Chance, considers which tax-raising levers the chancellor might pull on October 30, and puts forward a case for fairer, growth-focused tax policy.
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Twitter, Instagram and TikTok.
Want more?
Check out Claer’s column, What’s the chancellor’s next move going to be with my pension?
Listen to more episodes of Money Clinic, such as What will the UK election mean for your money?, Isa season: how to build tax-free wealth, and more.
Presented by Claer Barrett. Produced by Tamara Kormornick with help from Mischa Frankl-Duvall. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Read a transcript of this episode on FT.com
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“How not to lose a million dollars”
In an increasingly cashless society, how can parents ensure children learn healthy financial habits? In this episode, host Claer Barrett speaks to Sheila Bair, author of the Money Tales children’s book series and former chair of the US Federal Deposit Insurance Corporation, about instilling children with sensible attitudes to money - and reveals details of her next book, How Not to Lose a Million Dollars.
For a chance to win a pair of Bose QuietComfort 35 Wireless Headphones, share your thoughts on the show with us via a short survey before August 29 2024 (terms and conditions can be found here).
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Instagram and TikTok.
Want more?
Check out Claer’s column, Widowed pensioners ‘could be owed thousands’ in UK state pension.
Listen to more episodes, such as How can I cut the cost of my insurance cover?, Can financial therapy change our relationship with money?, and more.
Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner and Samantha Giovinco, with original music from Metaphor Music.
Read a transcript of this episode on FT.com
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Best of Money Clinic: ‘Sadmin’ – the side-hustle nobody wants
When FT columnist Miranda Green lost her father, she expected the grief to be long-lived. What she didn’t expect was that she would still be attempting to settle her father's financial affairs nearly a year later with multiple calls to banks, building societies, insurers and utility companies.
In an episode which first aired last September, Miranda tells presenter Claer Barrett about her experiences dealing with inconsiderate call handlers and poor processes in the private sector. Claer puts Miranda’s concerns to Eric Leenders, the director of personal finance at UK Finance, the trade body that represents about 300 financial services organisations. What are they doing to address the problem?
Want more?
Listen to the second part of this series, Help! My parents are being targeted by scammers
Read Miranda Green’s article for free: Sadmin - the side hustle nobody wants
Services mentioned in the podcast:
https://www.gov.uk/after-a-death/organisations-you-need-to-contact-and-tell-us-once
https://www.mylostaccount.org.uk
https://www.deathnotificationservice.co.uk
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Instagram and TikTok.
Want more?
Check out Claer’s column, Widowed pensioners ‘could be owed thousands’ in UK state pension.
Listen to more episodes, such as How can I cut the cost of my insurance cover?, Can financial therapy change our relationship with money?, and more.
Presented by Claer Barrett. Produced by Philippa Goodrich and Laurence Knight. Our executive producer is Manuela Saragosa. Sound design by Breen Turner and Samantha Giovinco, with original music from Metaphor Music.
Read the transcript of this episode which was first aired last September on FT.com
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Best of Money Clinic: The financial advice we’d give to Barbie
Barbie is a big spender and high earner, fast approaching the age of retirement. But after a long and varied career that has seen her build a portfolio of multiple dreamhouses and a low-commitment, long-distance relationship with casual boyfriend Ken, what financial advice should she be looking for?
In this Headlinemoney award-winning episode of Money Clinic, first aired in August 2023, presenter Claer Barrett is joined in the studio by wealth manager Christine Ross from Handelsbanken and FT personal finance columnist Moira O’Neill, who share their tips on everything from prenups to investing.
Clips: Warner Bros
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Instagram and TikTok.
Want more?
Check out Claer’s column, How the ‘single tax’ can break financial resilience.
Listen to more episodes, such as Should I get a prenup?, Investment Masterclass: The hunt for global growth stocks, and more.
Presented by Claer Barrett. Produced by Persis Love. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Read a transcript of this episode on FT.com
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Should I get a prenup?
Prenuptial agreements are no longer just for Hollywood power couples such as Jay Z and Beyoncé — they’re on the rise in the UK too. Host Claer Barrett sits down with family lawyer Richard Hogwood from Stewarts Law to discuss the legal status of prenups as well as the recent influx of requests at his firm, and quizzes James Brookner, founder of the online-platform Wenup, on an affordable route to drafting a prenup. Also in the Money Clinic studio are newly weds-to-be Steve and Georgina, who explain why they decided on a prenup and how they navigated the tricky conversation around it.
For a chance to win a pair of Bose QuietComfort 35 Wireless Headphones, share your thoughts on the show with us via a short survey before August 29 2024 (terms and conditions can be found here).
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Instagram and TikTok.
Want more?
Check out Claer’s column, How the ‘single tax’ can break financial resilience
Listen to more episodes of Money Clinic on the topic, such as The finances of moving in together, How can we stop arguing about money?, and more.
Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with help from Jake Fielding, and the original music is from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Read a transcript of this episode on FT.com
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Money Clinic presents: How to future-proof your career
Isabel Berwick, host and editor of the FT’s Working It podcast and newsletter, has spent the last year writing The Future-Proof Career, a book about how to thrive at work, now and in the future. In April, she held a launch event at Daunt Books, where she spoke to Money Clinic’s Claer Barrett, the FT’s consumer editor, about what she learned in the process. This is an edited version of a Working It episode that aired in May.
For a chance to win a pair of Bose QuietComfort 35 Wireless Headphones, share your thoughts on the show with us via a short survey before August 29 2024 (terms and conditions can be found here).
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Twitter, Instagram and TikTok.
Want more?
Catch Isabel on the FT’s Working It podcast, read her latest newsletter, Keeping teams calm in turbulent times, and follow her on LinkedIn.
Read more Work & Careers articles from the FT, such as Five secrets of workplace success, and Can AI make brainstorming less mind-numbing?
Check out Claer’s column, How the ‘single tax’ can break financial resilience
Listen to more episodes of Money Clinic, such as Money Clinic live: How to get a pay rise.
Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Read a transcript of this episode on FT.com
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How can I cut the cost of my insurance cover?
The cost of insurance premiums is rising to record highs, but levels of customer service are falling for customers who end up having to make a claim, according to a new report. The consumer group, Which? has found that almost half of those claiming on home, car or travel insurance policies in the past few years have experienced at least one problem, as the volume of complaints linked to claims handling soars. Host Claer Barrett sits down with Sam Richardson, the deputy editor of Which? Money and Ian Smith, the FT’s insurance correspondent, to find out why insurance has become such a minefield for consumers, and how to reduce the cost of premiums without compromising the quality of cover.
Links:
Money Helper: https://www.moneyhelper.org.uk/en
British Insurance Brokers’ Association: https://www.biba.org.uk/
For a chance to win a pair of Bose QuietComfort 35 Wireless Headphones, share your thoughts on the show with us via a short survey before August 29 2024 (terms and conditions can be found here).
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Twitter, Instagram and TikTok.
Want more?
Read Ian Smith’s FT Money cover story, What’s driving the car insurance crisis?
Check out Claer’s column, How the ‘single tax’ can break financial resilience
Listen to more episodes of Money Clinic on the topic, such as Am I paying too much for insurance?, Finance tips for freelancers, insurance pitfalls and how to write the perfect 'to do this', and more.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Read a transcript of this episode on FT.com
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Investment Masterclass: The hunt for global growth stocks
When it comes to growth investing, big US tech stocks are the prime example. However, professional investors are looking to diversify into other areas of global stock markets, seeking out fast-growing companies of the future.This week, Claer sits down with fund manager James Thomson, who has managed the £4bn Rathbone global opportunities fund for 20 years. In this episode, he shares the ingredients for his “special sauce” to investing in growth stocks, his biggest mistakes and the core lessons he has learned from weathering several economic crises.
Links:
The Five Minute Investor from Money Clinic: Magnificent Seven
Money Clinic’s Investment Masterclass: The case for investing in AI
For a chance to win a pair of Bose QuietComfort 35 Wireless Headphones, share your thoughts on the show with us via a short survey before August 29 2024 (terms and conditions can be found here).
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Instagram and TikTok.
Want more?
Check out Claer’s column, Could AI make you a better investor?
Listen to more investment masterclasses from Money Clinic, such as WTF are ETFs, Do sneakers deserve a place in your investment portfolio?, and more.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Read a transcript of this episode on FT.com
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Related Episodes
Ep 26: Touch Wood - (Part 1)
Welcome back to In Sickness and in Health, your favourite comedy podcast hosted by James and Clair Buckley.
In today’s episode, James goes off on one of his rants about people who can’t handle spicy food…he’s vowed to do the One Chip Challenge so stay tuned for that! The Buckleys reveal which weird superstitions they believe in, and then go on to give advice on how to deal with in-laws who not-so-subtly suggest you’re hairy, overweight and smelly?!
Tune in every Tuesday for more In Sickness and in Health, and keep your eyes peeled for future bonus episodes! Subscribe and follow us on social media to watch the best bits from the latest episodes - @insicknessandinhealthpodcast
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Kate Forbes: How faith can make you political "roadkill", with Tim Farron
For a hot moment Kate Forbes was favourite to replace Nicola Sturgeon as SNP leader and Scotland’s first minister. But revealing her socially conservative views in a series of interviews, including being against equal marriage, gender self-identification and sex outside of marriage, has dismayed her supporters and jeopardised her campaign.
Anoosh Chakelian and Ben Walker discuss the SNP’s socially liberal base and the parallels between Forbes and Tim Farron, who resigned as Liberal Democrat leader in 2017 after he was repeatedly challenged about his views on gay sex.
Anoosh then speaks to Farron himself about how he rates Forbes’ prospects given his own experience, her brutally honest strategy, and whether a leader with her views is compatible with the SNP’s progressive agenda.
Then in You Ask US, Ben answers listeners’ polling questions on where Britain stands on strikes, apathy towards Brexit, and the significance of the West Lancashire by-election result, as forecast by Britain Predicts, the New Statesman’s new polling model.
Subscribers can get an ad free version of the NS Podcast on the New Statesman app
If you have a question for You Ask Us, go to newstatesman.com/youaskus
Podcast listeners can subscribe to the New Statesman for just £1 a week for 12 weeks using our special offer. Just visit newstatesman.com/podcastoffer.
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Fighting the Post Office: Alan Bates at the inquiry
Alan Bates, the campaigner who took on the Post Office to expose flaws in its IT systems which led to wrongful convictions, has appeared before the public inquiry into the scandal.
Can this crucial stage of the inquiry take the victims a step closer to justice?
This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today: http://thetimes.co.uk/thestory
Guest: Tom Witherow, news and special projects reporter, The Times.
Host: Luke Jones.
Further listening: The Post Office scandal: How a TV drama delivered justice
Clips: Channel 4 News, ITV.
Get in touch: thestory@thetimes.co.uk
Find out more about our bonus series for Times subscribers: 'Inside the newsroom'
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Help I'm More Postman Than Post Box
Join Sexted Extra and laugh along to William Hanson and Jordan North helping you navigate the challenges of modern life ad free at https://plus.acast.com/s/sextedmyboss.
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Conspiracy Theories
