News & Updates

April 7, 2020

Equities are very cheap. Real risk free rates are exceptionally negative. The real-terms risk premium is higher than at typical bear market lows. That's what a pandemic can do at a time when risk free rates are still represssed by the monetary response to the credit cr...

March 31, 2020

Stuart Fowler

This email to clients updated our earlier information on 21st March on the impacts of coronavirus on our modelling of real spending outcomes for their spending plans. This takes into account the extraordinary scale of governments' intervention in economies, potentially...

March 21, 2020

This is how we updated our discretionary portfolio-management clients (by email) on the impacts of coronavirus on their goal-based portfolios. This was before the lockdown and before the full scale of the Government's intervention in the economy was known but after lar...

September 23, 2019

We show here our opening comments as part of a detailed response to the FCA to its proposed ban on contingent fees for advising on a transfer of a Defined Benefit (DB) pension to a personal pension. 

You can read our response to CP19/25 in full here.


July 19, 2019

For 15 years we have operated and refined a non-traditional approach to charging investment fees, combining flat and variable elements. It's quite specific to our goal-related and planning-based approach to organising portfolios and delivering value to clients, and it'...

July 7, 2019

The scale of our transfer activity is not typical (just 19 transfers in 2 years) but the transfer logic and the numbers applicable to it are perfectly representative. The data is a direct challenge to critics of transfers in principle, or even in general, derived as it...

June 20, 2019

After collecting data from all transfer specialists in the market, the FCA is 'concerned and disappointed' with the number of transfers from Defined Benefit to Defined Contribution pensions and is promising further action.

Why is the data either surprising or worrying?...

June 8, 2019

It’s one thing for ordinary individual investors to fall into the trap that good past performance makes it look like a fund manager has got star quality. Private investors’ long-time favourite Neil Woodford, Britain’s answer to Warren Buffet, has well and truly sprung...

May 29, 2019

In a new paper we address clients' questions about the possible consequences of a Labour Government able to force through an overt or hidden Marxist agenda, together with possible mitigating actions.

Read the paper here

From the Introduction

"Fowler Drew’s approach...

April 11, 2019

We have rarely seen the advice community as incensed as by the recent FCA-mandated decision to increase the Financial Ombudsman Service (FOS) maximum award from £150,000 to £350,000, to embrace the larger size of awards arising from transfers from Defined Benefit pensi...

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