IFA Talk

With more than 50 years in financial planning, Patrick Murphy has seen the profession evolve. Although he’s recently stepped back from advising clients, he’s challenging conventional thinking about what really drives client outcomes. In this episode of IFA Talk, hosts Matt and Sue sit down with Patrick to explore his latest insights on Targeted Support, consumer behaviour and the future of advice. With Targeted Support kicking off from April, will this be the game-changer it’s often set out to be? The answer is probably yes but, as we’ll explore today, maybe not for the reasons that most people are thinking about. Patrick’s recent paper, Financial Planning in Transition: Beyond Targeted Support (2025–2030), builds on his work in hybrid advice and argues that the way advisers support client behaviour could transform outcomes at scale. Today, we discuss what that means in practice and why understanding behaviour may be more important than simply providing knowledge or information. We talk with Patrick about why good advice often fails, not because it’s wrong, but because it isn’t acted upon, how regulators and firms can misread the advice process, and why compliance alone doesn’t guarantee good outcomes, the shift from one-off recommendations to ongoing behavioural support and how advisers can adapt day-to-day, how Targeted Support could succeed or fail depending on whether it’s treated as content/compliance or as behaviour design, and the practical takeaways for advisers looking to improve client outcomes in a rapidly evolving profession.  

The FCA’s plans to introduce Targeted Support from April 2026 represent one of the most significant regulatory developments which advisers need to be aware of at the moment.  In this week’s episode of IFA Talk, Matt and Sue welcomed Chet Velani, Managing Director at EV, to chat through some of the key issues around what Targeted Support is really designed to achieve, how it might work in practice, and what advisers can be doing now to stay ahead of the curve. Chet was a great guest and had plenty of practical ideas to share. EV is a financial services technology provider working with millions of consumers and a significant proportion of the UK advice market, giving Chet a unique perspective on how regulation, technology and advice intersect. As Chet explains on the podcast, Targeted Support isn’t about eroding the value of advice. Instead, it’s about creating clearer, scalable pathways that use data and technology to support more people, while enabling firms to deliver demonstrably better outcomes for consumers. However, for advisers, understanding the bigger picture, how this framework is likely work  in practice and how it could complement existing advice models will be really important.  

In this month’s special Tax-Efficient Investment (TEI) edition of IFA Talk, IFA Magazine's Content Editor Matt Williams and Deputy Editor Jenny Hunter take a look back at the 2025 Budget and the changes to VCTs. Joining us to unpack all of this are not one, but two great guests. First, returning to the IFA Talk studio is Toyin Oyeneyin, Tax Product Specialist at Octopus Investments. Toyin joined us back in November ahead of the 2025 Budget to discuss the major changes in the 2024 Budget, along with the topic of pensions and the complex IHT landscape. This time, Toyin is also joined by Tim Dickens, Head of Investment Specialists at Octopus Ventures. Together, they reflect on the key takeaways from this year’s Budget, the changes to VCTs and what they mean for financial advisers, and why private markets are becoming increasingly popular.

IFA Magazine’s weekly podcast, IFA Talk, is back with another insightful episode aimed squarely at busy financial advisers with a passion for what they do. This week, we’re joined by Martin Lockyer, Co-Founder and Managing Partner at Westminster Wealth Management, to find out from his years of experience as an adviser and running an advice business, what it takes to build and run a successful firm. Martin’s insight into succession planning is particularly thought provoking, and reinforces the idea that it should never be a one-size fits all approach. In this episode, Meg Bratley and Sue Whitbread talk to Martin about the practical challenges and opportunities facing advice firms, from maintaining long-term client relationships to protecting independence in a landscape dominated by consolidation and regulation. Martin shares his expertise based on years of experience, and offers practical insights and strategies that can help advisers create sustainable businesses while delivering excellent outcomes for clients.   Highlights include: How to run a succession-based business that prioritises clients and stakeholders alike. The advantages of a self-employed, proprietary-book adviser model versus the traditional employed framework. Navigating regulatory and operational pressures while maintaining independence. Martin’s three top tips for advisers looking to future-proof their business. Whether you’re a business owner, manager, or adviser seeking actionable best practice ideas and real-world perspectives, this episode is sure to get you thinking.  

Now live: The latest Mortgage & Property Investment special edition of IFA Talk explores what the 2026 mortgage market could look like for brokers, and where opportunities and challenges may lie as we head into the New Year. In this episode, hosts Meg and Sue are joined by Jonathan Stinton, Head of Intermediary Relationship Management at Coventry Building Society. Jonathan discusses the outlook for the 2026 mortgage market, including broker confidence, remortgaging activity and affordability pressures. He also shares how lenders can best support brokers during a busy remortgage cycle, and explores the opportunities and challenges shaping the Buy-to-Let market in the year ahead. Key discussion points also include: The outlook for mortgage brokers in 2026 and how confidence is shaping the market Remortgaging and product transfer volumes, and what brokers are saying they need most The impact of affordability pressures on client advice conversations How the Buy-to-Let market may evolve in 2026, including continued interest in specialist areas such as limited company BTL. This episode provides valuable insight for mortgage brokers looking ahead to the near future, examining the key trends shaping the mortgage market and highlighting how advisers can continue to add value and support their clients in the long term.

In this episode of IFA Talk, Sue and Matt are joined by Alex Sumner from Thrive, Blackfinch Group’s dedicated workplace pensions and benefits platform. Thrive is designed to simplify pension management for businesses while giving employees access to a financial wellbeing app that provides clear insights into pensions, benefits, and financial futures. It can be a key tool for advisers to use also. The discussion dives into some of the most pressing topics for advisers today: Closing the advice gap: Alex shares his perspective on whether enough is being done to support those who can’t afford professional financial advice, and the role targeted FCA-backed initiatives like targeted support can play in improving financial wellbeing. Helping employers to support financial wellbeing and education: With employee financial health increasingly in the spotlight, the conversation explores how employers can better support their workforce, creating opportunities for advisers to add value too. Opportunities for IFAs: Thrive’s hybrid model isn’t just for businesses and employees, it also opens doors for advisers to strengthen client relationships, drive lead generation, and build new business opportunities. Whether you’re looking to add to your advice business’ strategy for 2026 or exploring effective new ways to support your business clients, this episode offers practical insights and actionable ideas that can help you deliver. 

This month's latest New Insurance & Protection special edition of IFA Talk explores an issue that affects clients across the UK but is still often misunderstood: economic abuse. In this episode, hosts Meg Bratley and Jenny Hunter are joined by Shelley Read, Senior Technical Manager at Royal London. Shelley sheds light on what economic abuse really means, how it differs from financial abuse, and the impact it can have on financial wellbeing, protection, and even access to mortgages. Highlights from this week’s episode What economic abuse is, and who it affects Shelley explains the different forms this type of control can take, and why certain groups are at heightened risk. How it shows up in financial services The discussion explores how economic abuse can influence mortgage eligibility, credit histories and wider financial decision-making. The role of protection Shelley highlights how protection conversations can uncover signs of economic control and why advisers play a crucial role in supporting vulnerable clients. Spotting the signs Practical guidance on what advisers, friends and family should look out for, and what to do if they’re concerned.  

Now live: The latest Mortgage & Property Investment special edition of IFA Talk, and the final episode of the year turns its attention to later life lending, a topic that has taken on increased importance following the October and November Budget announcements. In this episode, Sue and Meg are joined by two brilliant guests. Tony Wickenden, Founder and Managing Director of Technical Connection, and Will Hale, CEO of Key and Air. Together, they discuss the evolving role of later life lending and what advisers need to consider as they support clients through an increasingly complex planning landscape. Highlights from the episode Adviser interest in later life lending What the Autumn Budget means for planning The family home and estate planning Preparing for the opportunities ahead This episode offers timely insight and practical perspective for advisers navigating post-Budget planning conversations and provides a fitting close to IFA Talk for the year. With the festive season upon us, we’d like to thank our listeners for their support throughout the year and wish you a very Merry Christmas and a happy New Year!  

On this week’s episode of IFA Talk, Sue and Matt focus on one of the most talked-about topics in the advice sector right now, the Advice Guidance Boundary Review, and more specifically, the arrival of Targeted Support. Ben Hampton, CEO of Wealth Wizards joins us to share his expert insights. Wealth Wizards has been at the forefront of digital advice and guidance technology, making Ben the ideal guest for this discussion. Together, they discuss the main drivers behind the push for Targeted Support, and how it reflects the changes needs of UK consumers. Ben also reveals how Targeted Support can help to bridge the advice gap, and how the consumer experience of financial advice and guidance could change, especially in relation to retirement preparation. Lastly, Ben outlines which hurdles and opportunities he foresees for advice firms, in areas such as regulation, technology and customer trust. This episode was recorded on 17th November, therefore prior to the FCA’s announcement on Targeted Support.

In this, our last special Tax-Efficient Investment edition of IFA Talk for 2025, we’re reflecting on the recent Budget and the ramifications for EIS and VCTs. Matt and Sue are joined by Tom Wilde, from the Tax Department of UK law firm Shoosmiths, where he heads up the firm’s EIS and VCT practice.    With the reduction of VCT tax relief from 30% to 20% next year potentially driving more interest towards EIS investment, as well as other measures, Tom shares his expert insight on what the changes in the 2025 Budget mean for EIS and VCTs.   What You’ll Learn in This Episode Budget 2025 EIS & VCT changes – How new funding and gross asset limits expand investment opportunities VCT relief reduction – Why the cut from 30% to 20% may shift focus toward EIS products and a boost to demand in the current tax year Client suitability guidance – Which clients and planning scenarios may now benefit from EIS over VCT Regional implications – The Budget’s failure to reform age limits and how this affects companies outside the South-East, in particular Practical advice for advisers – How to navigate structural limitations and identify client opportunities Hearing from a tax expert like Tom really does highlight why 2026 is looking extremely positive for the tax-efficient investment sector.   We’ll be back with more TEI podcasts in 2026. But in the meantime, look out for our 2026 Tax-Efficient Investment Insights publication coming out in January. We’re sure you’re going to like it!

This week on IFA Talk, Deputy Editor Jenny Hunter and Editor Sue Whitbread are joined once again by James Giblin, Fund Manager at L&G, and someone who’s had a front-row seat to one of the most unpredictable market years we’ve seen in a while. With 2025 almost behind us, the timing couldn’t be better. James shares his take on what’s really been driving markets this year, how investors can keep a cool head when the headlines get loud, and what advisers should be thinking about as we head into 2026. If you’re looking for a clear, calm voice amid the noise, this episode is definitely one to queue up. James also gives us a peek behind the scenes at L&G, chatting about how the team navigates conflicting signals in markets, draws on the firm’s research expertise, and makes the kind of decisions that matter when things are changing fast. It’s an honest and accessible look at how multi-asset teams stay grounded when the world around them feels anything but. And, of course, we look ahead. With a new year on the horizon, James talks through the themes on his radar, from shifting economic conditions to the areas where he sees risk, opportunity and potential surprises. Advisers will find plenty here to help shape client conversations and set expectations for the year to come.

The latest New Insurance & Protection special edition of IFA Talk explores how insurers are reshaping protection in 2025, and what this means for advisers and their clients. In this episode, hosts Meg Bratley and Sue Whitbread are joined by Paul Roberts, Propositions and Distribution Director at CIExpert. Paul shares his expert insights into how the industry is developing more comprehensive cover and how advisers can translate this into meaningful client conversations. Highlights from the latest episode: · A look at what insurers have done during 2025 to offer more comprehensive cover · How understanding Additional Payments, Enhanced Payments, Accelerated Payments, and Severity Payments adds real value to modern protection conversations · How Children’s Critical Illness cover should be positioned as part of holistic financial planning moving forward This episode makes for a fascinating and practical discussion, giving advisers valuable guidance on how to embrace the latest developments in protection and deliver even better outcomes for their clients

This week’s IFA Talk Budget Special is packed with practical insight, clear explanations, and a few “wait, did the Chancellor really do that?” moments. In this episode, host Sue Whitbread, Editor at IFA Magazine, is joined by Rachel Vahey, Head of Public Policy at AJ Bell, who helps advisers cut through the noise and get straight to what really matters for clients in terms of last week’s budget measures. Recorded on Friday 28th November, this fast-paced 20-minute chat is your shortcut to understanding the key measures, the curveballs (plenty of those!), and the missed opportunities of the Budget. What’s inside this budget breakdown? Rachel takes us on a whistle-stop tour through the key budget announcements, the headline items and the smaller, easy-to-miss measures that really matter for advisers and clients. Here’s a flavour of what’s covered: - Stealth taxes and fiscal drag Income tax thresholds remain frozen – again – meaning more clients pulled into higher-rate tax and more explaining for advisers. Sue and Rachel dig into what the continued freeze really means and the impact on disposable income. There are some startling numbers in this section! - Salary sacrifice reforms and pension implications One of the biggest pension talking points of the Budget was salary sacrifice. What’s changing? From when? And what are the “watch-outs” for advisers and employers? Rachel breaks down the practical implications. - Cash ISAs Rachel explains what the Chancellor has done and what she hasn’t done. She also adds clarity on the much-rumoured ISA reforms and we think this might raise some eyebrows as to the implications especially for investment ISA. - The Budget ‘Smorgasbord’ – smaller measures that matter Your clients will feel these – even if they didn’t make the headlines. Rachel explains: Dividend tax adjustments The reality behind the “mansion tax” / High Value Council Tax Surcharge (HVCTS) Property tax expectations vs what actually happened VCTs, and the Chancellor’s stance on growth incentives - The bond market backdrop No Budget exists in a vacuum. Rachel and Sue take a moment to consider the bond market reaction, the Government’s tightrope walk after the Truss episode, and whether advisers should be bracing for bond-market rumblings. To catch up with all the details tune in now!  

Now live: The latest Mortgage & Property Investment special edition of IFA Talk lifts the lid on one of the most pressing issues facing today’s housing market, how to help more first-time buyers take that crucial first step onto the property ladder. In this episode, hosts Sue Whitbread and Meg Bratley are joined by Carlo Pileggi, Head of Mortgage Products at Nationwide Building Society. Carlo shares his insights into the challenges facing first-time buyers today, and how initiatives like Nationwide’s Helping Hand Mortgage Boost are making a meaningful difference for aspiring homeowners across the UK. Highlights from this week’s episode The changing profile of first-time buyers, and the trends Nationwide is seeing on the ground How Helping Hand is supporting affordability, deposits and access to lending The growing role of family support and how lenders are adapting to reflect this Real stories of first-time buyers whose journeys were transformed through flexible lending What the next 12–18 months might hold for affordability, lending innovation and first-time buyer support This episode provides a timely and insightful look at the real barriers facing today’s first-time buyers, and the innovative solutions helping more people secure a home of their own.

In this week’s episode of IFA Talk, Matt Williams and Jenny Hunter dive into one of the most important and complex areas of financial planning, helping clients manage risk and income throughout retirement. Joining them is Andrew Lewis, Senior Investment Director at Brooks Macdonald, who shares his thoughts on how advisers can design smarter, more resilient retirement strategies that adapt to clients’ changing needs. Andrew talks about the main risks retirees face today, from longevity and sequencing risk to the impact of inflation - the kind of inflation you really notice when the price of a tub of Lurpak at the supermarket gives you a shock (though other butters are, of course, available). He also unpacks the key findings from the FCA’s thematic review on retirement income and what they mean in practice for advisers supporting clients through decumulation. The conversation rounds off with a look at how Brooks Macdonald’s Retirement Strategies can form part of a centralised retirement proposition, helping advisers deliver consistency, flexibility and stronger client outcomes. If you’re advising clients approaching or already in retirement, this episode offers practical insights and plenty to think about as you help plan for your clients.  

The latest New Insurance & Protection special edition of IFA Talk turns the spotlight onto a topic at the heart of financial wellbeing, protection. In this episode, hosts Meg Bratley and Jenny Hunter are joined by Phil Jeynes, who leads the strategic direction of MetLife UK’s individual protection business. Phil shares his expert view on how advisers can better support clients when it comes to choosing the right type of protection and preparing for life’s unexpected events. Highlights from this week’s episode Helping clients make informed decisions What advisers need to know about guiding clients through protection choices, and how to make these conversations more relevant, engaging and grounded in real-life needs. Understanding who’s most at risk Which groups are most vulnerable to everyday accidents or illnesses, and the financial implications that can quickly follow. Practical support when the unexpected happens What advisers can put in place to help ease financial pressure when clients face sudden health issues, accidents or changes in income. This episode offers a timely and insightful discussion on why protection matters, and the crucial role advisers play in giving clients clarity, confidence and peace of mind when they need it most.  

How can advisers prove their value, close the advice gap, and embrace technology without losing the personal touch? On this week’s episode of IFA Talk, Meg and Sue are taking a closer look at the client proposition, in particular at how advisers and planners can continue to deliver strong outcomes for clients while building a resilient business. Joining us is Arnie Millington, Head of Business Development at Sparrows Capital. Arnie has worked across the advice space — from AJ Bell and Benchmark to 7IM — giving him a deep understanding of the challenges and opportunities advisers face today. In this conversation, Arnie shares practical insights on: Demonstrating value under Consumer Duty, How advisers can clearly show clients what they’re getting and justify their fees. The advice gap. What’s driving it and how advisers remain essential to helping clients achieve their goals. Technology and AI. How to embrace new tools without losing the personal, relationship-based service clients value. Industry consolidation. Whether the wave of mergers and acquisitions benefits clients, or risks diluting personal service. Whether you’re running your own advice business or working in a larger firm, this episode offers real-world insights on staying relevant and effective as the profession develops. Listen now to hear practical thinking on balancing value, technology, and personal connection in financial advice.

In this month’s special TEI (Tax-Efficient Investment) special edition of IFA Talk, Matt and Sue take a look back at some of the key changes to IHT and pension in last year’s Autumn Budget. With many of the new rules set to take effect from April 2026 and April 2027, advisers and clients are increasingly seeking support to navigate the changes ahead. Fortunately, joining us to unpack all of this is Toyin Oyeneyin, Tax Product Specialist at Octopus Investments. Together, we dive into the topic of IHT on pensions, before looking ahead to this year’s much-anticipated Budget. In this episode, Toyin discusses whether the golden age of pensions is now over and outlines how the changes have affected the conversations advisers are having with their clients. She also answers whether there is still hesitancy regarding IHT planning ahead of the Budget and reveals how Octopus Investments are supporting advisers in an increasingly complex landscape. Be sure to check out this episode and all other episodes of IFA Talk on Spotify, Apple Podcasts, and Amazon!  

As the lines between model portfolio services (MPS) and bespoke investment solutions continue to blur, advisers are increasingly asking if these two approaches are really in competition, or can they actually complement each other? In this week’s episode of IFA Talk, hosts Sue Whitbread and Matt Williams are joined by Eddie Kennedy, Head of Marlborough’s Personal Portfolio Service, to explore this very question. Eddie has plenty of experience in this field. In this conversation he not only shares his insights on how both MPS and bespoke solutions are evolving but also why framing them as opposing forces might just be missing the point. On the agenda for this week’s conversation are: How the MPS landscape is changing under the lens of Consumer Duty Why the trend toward commoditisation could be limiting service quality What really defines a true bespoke service – and what advisers should look for How MPS and bespoke solutions can work together as part of a lifelong client journey Why long-term thinking, or as Eddie’s family motto puts it, “Avise la fin” (“Consider the end”), matters more than ever for advisers and clients. As Eddie explains, Marlborough’s approach uses the same multi-asset framework to underpin both MPS and bespoke portfolios, illustrating how advisers can blend these strategies to meet evolving client needs. Whether you’re refining your investment proposition or simply keeping an eye on industry trends, this episode offers valuable perspective on how to align service, personalisation and long-term outcomes.

In this week’s episode of IFA Talk, hosts Matt Williams and Jenny Hunter delve into one of the most hotly debated topics, the evolving role of the paraplanner and whether it’s time for formal FCA recognition. They’re joined by Derek Bradley, founder and CEO of Panacea Adviser, to discuss the findings of Panacea’s latest industry survey: “Should Paraplanners be more formally recognised by the FCA?” The research sparked widespread discussion across the financial planning community, raising key questions about professional identity, accountability and the future shape of the advice process. Would formal recognition help to elevate standards and professionalism, or would it simply add cost and complexity to an already heavily regulated sector? Derek shares his perspective on these issues, exploring the fine line between advisers’ and paraplanners’ responsibilities, and why outsourced and in-house paraplanners often have such contrasting views on the question of regulation. The conversation also looks ahead to what the next decade could hold for paraplanners, from evolving qualifications to shifting expectations around accountability and client outcomes. Listen now to hear Derek’s insights on Panacea’s latest research and what greater formal recognition could mean for paraplanners, and the advice profession as a whole.