Advisers need to be “really on it” with their clients on Budget day next Wednesday (30 October), Moran Wealth Management founder Nicola Crosbie has warned.

Speaking on a panel at the Money Marketing Interactive conference in Leeds today (24 October), Crosbie insisted advisers “must be proactive” on the day.

“If we’re not, some other adviser will be,” she warned. “And that’s where there is likely to be a breakdown in the relationship [you have with your clients] if you’ve not got your finger on the pulse.”

She said it is important for advisers to “put things into perspective” for clients.

“It’s about saying: ‘Let’s just calm down a little bit’,” she said. “Our job is to calm the situation.”

She emphasised the importance of “being informed” about what could come up in the Budget.

“Don’t fluff your way through it,” she said. “Because it becomes a bit apparent if you don’t know what you’re talking about. And that will unsettle your clients more.”

On the same panel, Triple Point regional business development manager Lucy Dolan said having an “agile plan” for clients is key.

She added there are “many different approaches” that advisers can take to delivering advice around the Budget, but “the key point is that things can change”.

“These unprecedented times demonstrate how quickly legislation can shift,” she said. “Therefore, it’s essential to remain agile.

“I’ve spent considerable time with advisers, accountants and solicitors. Even among solicitors, there’s some apprehension about trusts at the moment because, once a trust is in place, the client loses a degree of autonomy.

She said that, depending on how things progress, advice businesses will focus more on estate planning, which allows clients to maintain control and flexibility.

“This is particularly important because, if legislation changes, clients need to be able to adapt their plans accordingly,” she said.

“Adaptability will be crucial moving forward.”

Also on the panel, Syndaxi Financial Planning managing director Robert Reid said the ability to navigate changes as a result of the Budget is what “keeps advisers relevant, useful and profitable”.

“In fact,” he suggested, “I believe the complexity this budget might introduce could actually widen the appeal of advice.”

WITH the cost of everything rising, now more than ever are people looking for ways to cover the costs of the essentials.

Poundland Perks is a game-changing app designed to offer exclusive discounts and rewards, as well as the opportunity to earn prizes every week.

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Sign up for Poundland Perks

After already successfully piloting the Poundland Perks app in Northern Ireland and the Isle of Wight, a wider rollout for the UK is set to take place on October 17.

Whether you’re a regular shopper or new to Poundland, the app is a must-have for anyone looking to stretch their budgets and snag fantastic offers on everyday needs.

Poundland’s digital loyalty scheme rewards users with discounts on promotional products, which can also be redeemed against purchases in-store by scanning a barcode in the app at checkout.

Wondering how it works and most importantly, how you can start saving today?

We’ve outlined everything you need to know ahead of the app’s launch.

What is the Poundland Perks App?

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Sign up for Poundland Perks

Poundland Perks is the all-new loyalty and rewards programme from retailer Poundland.

The simple-to-use app is designed to give customers access to exclusive savings on selected products in stores nationwide.

Downloading the Poundland Perks app means you can unlock vouchers, earn points and enjoy weekly fun and prizes to win.

The app aims to ensure Poundland shoppers can “save more, earn more, and play more”, all while picking up the essentials and their favourite bargains.

Saving money while doing your weekly shopping has never been this rewarding, which is perfect now that the colder weather is starting to set in and the festive season draws nearer.

How does the Poundland app work?

The app offers special discounts on selected products, which means extra savings just for being part of the Perks members.

Every time you shop, you’ll be able to take advantage of lower prices on a wide range of products across the store.

When you buy certain products, you’ll earn Powered Up Points, which can be collected and redeemed for even more rewards.

For every £1 spent in-store, Poundland Perks members will get 100 points in the app, with 5,000 points earning them a £1 voucher for their next shop.

Poundland Perks also features ‘spin the wheel’ competitions.

Every Wednesday, you can log in to the app and spin a virtual wheel for a chance to win extra rewards, but these will be one-off promotions that Poundland will launch at its discretion according to its terms and conditions.

Are Poundland Perks available across the UK?

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Sign up for Poundland Perks

A roll-out in the UK is expected on October 17, while it might not be all UK stores for now, we will hear announcements of what stores we can expect to be participating.

To start saving in the UK, head to the App Store or Google Play and search for Poundland Perks.

Download and install the app on your smartphone and create a Perks profile on the app.

Once logged in, customers can explore the Perks Pricing deals available in local stores, and the app will show you which products are eligible for discounts.

When you’re ready to pay at the checkout, you can simply scan your Poundland Perks app QR code to start accumulating points and savings at Poundland.

Sign up for Poundland Perks

As of early 2024, iOS holds a dominant 60.77% share of the U.S. mobile market, far ahead of Android’s 38.81% (Backlinko). This makes iOS app development crucial for businesses targeting a large and active audience.

In this post, we’ll talk about…money, the biggest driver in the development process. We’ll explore how much it costs to make an app from Purrweb’s perspective, but these estimates will either be relevant for other development companies.

What are the peculiarities of iOS app development?

iOS app development has its own set of unique characteristics compared to Android. What makes it stand out?

App Store only

The only place where iOS apps may be distributed is through Apple’s App Store. No third-party stores, no APKs—developers have to abide by Apple’s rules at all times. These regulations can be strict; before an app is authorized for distribution, it must pass rigorous evaluations and frequently go through many changes.

Limited device range

Apple’s consistent hardware lineup simplifies development. iOS has fewer screen sizes and resolutions to support than the wide variety of Android devices. Because of the simplified testing and optimization process, developers are free to concentrate on creating a polished application rather than worrying about unforeseen problems resulting from subtle hardware variances.

Languages

Additionally, Swift and Objective-C are iOS-specific programming languages. Specifically, Swift is designed to be current and effective, allowing developers to create reliable, high-performing programs. 

Enhanced security

Privacy and security come first. Because of Apple’s stringent policies on user data, all apps are required to include strong security features, including data encryption and permissions management. The fundamental design of iOS apps upholds this commitment to privacy, guaranteeing that user data is always secure.

How to build an app for iOS

Building an iOS app involves a series of decisions and steps, each of which can influence the final app development costs and development timeline. Here’s a structured approach:

Define your scope and platform needs

Decide if you need an app exclusively for iOS or if you plan to develop for Android as well. 

Cross-platform frameworks allow you to build a single codebase for both platforms, which can save money and time, but native development guarantees the greatest performance and user experience.

Work on UI/UX

iOS users have very high expectations for design and usability. Moreover, the design must be adhere to (HIG). 

Develop and test

Use Apple’s Xcode integrated development environment (IDE) for project management, code authoring, and app building.

Extensive testing is essential. To find and fix issues, use physical devices and simulations. 

Prepare for App Store submission

Ensure your app complies with all App Store Review Guidelines. This includes content restrictions, user interface standards, and privacy policies. We add different screenshot and keywords to create a list.

Submit to the App Store

Use Xcode or App Store Connect to submit your app for review. Be prepared for multiple review rounds, as Apple may request changes to meet their guidelines.

Post-launch support and updates

Even after release, you should allocate your resources on maintaining and refining the app.

How much money do we spend to build an app?

We spend on various components such as:

Development team costs

2. App complexity

Most of the apps have minimal functionality and their cost may be between $10K and $30K.

It has database integration, API interactions, and user authentication typically costs between $30K and $100K.

But now, apps that have advanced features such as real-time data sync, custom animations, AI integration, or complex back-end requirements can cost more than $100k.

3. Design costs

Mostly UI/UC design cost between $50k to 30k. It depends on the number of design and screend complexity. If you are budget limited, consider simple UI/UX without complex animations.

4. Backend development

Creating a backend to handle user data, authentication, and other critical features typically costs between $10K and $50K. Third-party services, like analytics tools, social network logins, or payment gateways, can bump up the price by an additional $2K to $10K.

5. App Store costs

Apple’s developer license is $99 per year for individuals. For enterprises, the cost is $299. Additionally, keep in mind that Apple takes a 15% to 30% fee on all in-app purchases and premium software downloads.

6. Marketing and launch costs

Landing pages, press releases, and social media campaigns generally range from $1K to $10K. Of course, marketing is not an obligatory and rigid factor. For example, MVP apps rarely have extensive marketing.

7. Launch costs

App Store optimization costs anything from $1K to $5K, depending on how visible you want your app to be.

8. Maintenance and updates

After launch, bug fixes and small upgrades may run you anything from $1K to $10K a year. Depending on their complexity, adding new features based on user feedback can cost anywhere between $5K and $50K.

How much does it cost to develop an app from Purrweb?

The table below provides approximate pricing for an average project, giving you a general idea of the budget range to consider.

Of course, this is just an estimate. The actual cost for building an app can vary greatly depending on its specific details. As each app is unique, it’s essential to discuss your requirements with a development company and get an accurate quote.

The Financial Ombudsman Service has said the number of financial complaints received in the first half of 2024 rose by over 40%.

FOS received a total of 133,019 complaints between 1 January and 30 June, compared to 93,114 in the same period last year.

The complaints were made against 242 businesses including banks, insurance and investment firms.

Banking continues to top the tables, with 101,031 banking and credit complaints registered in the first six months of 2024.

These include disputes about credit cards, unaffordable lending and car finance, as well as fraud and scams.

FOS said over half of all banking and credit complaints were brought by professional representatives.

Other sectors that received a large number of complaints include general insurance/pure protection (22,489), decumulation life and pension (3,369), and investments (2,305).

FOS upheld 35% of complaints in favour of the consumer, compared to 37% in the first half of 2023.

FOS chief executive and chief ombudsman, Abby Thomas, said: “Businesses should put consumers at the heart of their service but the high level of complaints we receive shows that’s not always the case.

It’s vital that businesses are open and transparent with their customers, treating them with fairness and understanding.

“While professional representatives have an important role to play, they must ensure that their cases are well evidenced and have merit.

“If people don’t feel they’ve been treated fairly by their financial provider, they can come directly to our service and we’ll see if we can help.”

Lead consultant at wealth management consultancy firm Simplify Consulting, Dom House, described the complaints data as “extremely disappointing”.

“Complaint volumes across all FCA-regulated firms have continued to increase over the last 10 years but now, around 18 months into the Consumer Duty, it seems the industry is still to move the dial significantly on complaints,” he said.

“Firms should now be looking at their complaints data to understand how they can reverse this trend and consider whether the changes they’ve made for the Consumer Duty have had the impact intended.

“Consumers expectations have been raised as new technology becomes mainstream in the financial services industry, and firms need to get a grip by addressing the imbalance between prevention and cure by focusing on the root cause and prevention of complaints before they are raised.”

PENSIONERS could be owed money by HMRC as thousands have been over charged.

Anyone from the age of 55 who takes money out of a workplace or personal pension as a lump sum could be owed money back.

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New figures from HMRC today reveal that almost £44.3million was refunded to retirees between July and September 2024 alone.

This comes after the record £57million that was refunded last quarter.

In that same period, more than 12,000 claims were processed in total.

It works out that the average reclaim payment was £3,691 per person.

However, how much you overpaid could be higher or lower based on individual circumstances.

Why are pensioners overtaxed?

This is part of a long-running issue caused by emergency tax codes applied to pension withdrawals under the pension freedoms introduced in 2015.

Since the changes, anyone over 55 can access their pension flexibly, but HMRC often taxes large withdrawals as if they will be repeated monthly, resulting in overpayments.

Jon Greer, head of retirement policy at Quilter, expressed concern about the system’s flaws.

He noted that while there has been a slight drop in the number of overpayments this quarter, the issue remains significant.

John said: “The PAYE system is designed for regular income and struggles with the complexities of flexible pension withdrawals.

“As a result, many pensioners are overtaxed, and the refund process can be frustratingly slow.”

For many pensioners the tax bill can come as a unsavoury surprise.

Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, said: “The tax bill can come as a nasty surprise for people expecting to access their savings without a hitch and can throw off financial plans.”

How to get your cash back

For those hit by the tax trap, the process of getting their money back involves filling out specific forms as quickly as possible.

You can wait for HMRC to review your tax code at the end of the tax year and it will process a refund, but obviously, this means you could be waiting a while.

To get the cash back faster, you can fill in one of three forms: a P55, P53Z or a P50Z which can all be found on the Government’s website.

Which form you need to fill out will depend on how you have accessed your retirement pot:

• If you’ve emptied your pot by flexibly accessing your pension and are still working or receiving benefits, you should fill out form P53Z,
• If you’ve emptied your pot by flexibly accessing your pension and aren’t working or receiving benefits, you should fill out form P50Z,
• If you’ve only flexibly accessed part of your pension pot then use form P55.

To avoid having emergency tax deducted in future, try taking smaller amounts out rather than one lump sum.

Provided you fill out the correct form HMRC says you should receive a refund of any overpaid tax within 30 days.

More than £1.3billion has been refunded since the pension freedoms began in 2015, highlighting the scale of the issue.

Experts are urging savers to proceed with caution, especially with speculation around potential changes to pension tax rules in the upcoming budget.

Financial advisers are recommending that anyone considering a withdrawal seek professional advice to avoid falling into this tax trap.

Jon said: “It is vital that those considering pension withdrawals amid these budget rumours seek professional financial advice.

“Advisers can help structure withdrawals effectively, ensuring savers do not fall foul of the tax system’s pitfalls.

“Until the system is changed, we are likely to continue seeing many savers caught out and forced to reclaim significant sums of money.”

With proper planning, pensioners can ensure they don’t face unnecessary tax bills or delay in getting their money back.