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Telegraph links with Interactive Investor for direct platform launch

24 November 2014 11:26 am | By Sam Macdonald

Interactive Investor has partnered with the Daily Telegraph to launch a new investment service, Telegraph Investor.

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Old Mutual Wealth sets out bulk conversion plans

24 November 2014 9:25 am | By Sam Macdonald

Old Mutual Wealth has set out its bulk conversion plans on its platform which will see it undertake the first switches in February 2015.

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Neil Woodford to launch biotech investment trust

24 November 2014 8:37 am | By Sam Macdonald

Neil Woodford is set to launch a new biotech investment trust through his new venture next year.

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Advisers hit out at KRS 'free' non-advised annuity service claim

21 November 2014 9:30 am | By Samuel Dale

Key Retirement Solutions was still claiming its broking service is “free” a year after it made changes.

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Govt waters down HMRC bank account raid powers

21 November 2014 8:43 am | By Sam Macdonald

Chancellor George Osborne has weakened HM Revenue & Customs powers to raid bank accounts for unpaid taxes following an outcry from MPs, banks and charities.

Comments (1)

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MPC holds base rate due to continuing eurozone concerns

19 November 2014 11:56 am | By Sam Macdonald

The minutes show that yet again seven out of nine MPC members voted against raising the base rate.

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Apfa chairman: Industry needs light-touch regulation

19 November 2014 10:12 am | By Tessa Norman

Apfa chairman Lord Deben says he is “amazed” at level of regulation imposed on financial services. 

Comments (21)

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James Hay profits hit as interest income plummets £1m

19 November 2014 10:09 am | By Tom Selby

James Hay has cut its profit forecast for 2014 as pressure on margins and interest incomes weighs on the Sipp provider.

Comments (4)

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S&P warns of fresh recession over ECB monetary stimulus

19 November 2014 8:58 am | By Sam Macdonald

S&P warns the ECB buyback scheme cannot generate more than €40bn of net stimulus once old loans are paid back.

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Towergate reveals takeover approach

19 November 2014 8:34 am | By Tom Selby

Towergate Insurance has appointed Evercore and Rothschild as joint advisers after being approached about a possible takeover.

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BofA ML: Risk appetite on the rise in November

18 November 2014 2:14 pm | By Sam Macdonald

A net 47 per cent of the global panel says the economy will strengthen in the coming year, up from a net 33 per cent in October.

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UK inflation at 1.3% in October

18 November 2014 10:32 am | By Sam Macdonald

Consumer Prices Index inflation hit 1.3 per cent in October, up from 1.2 per cent in September, Office for National Statistics figures show.

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M&G hit by £1bn UK outflows

18 November 2014 10:21 am | By Sam Macdonald

Total net inflows year-to-date are at £5.3bn, with some £1.5bn taken in during the third quarter.

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FSCS set to pay out £60m for Catalyst claims

18 November 2014 9:39 am | By Sam Macdonald

The Financial Services Compensation Scheme says it expects to pay out around £60m during 2014/15 in relation to the collapse of Catalyst Investment Group.

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S&W hires Giles Worthington for European Growth fund

18 November 2014 8:39 am | By Michael Berry

Smith & Williamson has hired RiverCrest Capital’s Giles Worthington to run its £23m European Growth unit trust replacing interim manager Michael Pascall.

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Quindell chairman and founder Terry exits

18 November 2014 8:38 am | By Sam Macdonald

Robert Terry has been replaced by former Investec banker David Currie.

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Rebrand pushes WMA losses to £180,000

17 November 2014 2:26 pm | By Sam Macdonald

Rebrand pushed the trade bodies pre-tax losses to £181,000 in the year ending 31 May 2014, up from a £33,000 loss in the previous year.

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Axa Elevate COO Andrew Smith returns to Nucleus as CTO

17 November 2014 1:39 pm | By Michael Berry

Former Axa Elevate chief operating officer Andrew Smith is returning to Nucleus as chief technology officer.

Comments (1)

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In Partnership launches three-choice adviser proposition

17 November 2014 1:14 pm | By Sam Macdonald

Russell Investments-owned adviser network In Partnership has launched a three-choice advice proposition for its appointed representatives known as “three ways to trade”.

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Poor controls and dodgy suitability letters: Why FCA fined Chase de Vere £560k over Keydata

17 November 2014 1:01 pm | By Tom Selby

Inadequate research procedures and misleading suitability letters were at the heart of Chase de Vere’s failings in the sale of Keydata products.

Comments (1)

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FCA consults on making firms report all complaints

17 November 2014 10:50 am | By Sam Macdonald

The FCA is to consult on whether to remove the non-reportable complaints rule which means firms who settle complaints by the following business day do not need to report them to the regulator.

Comments (3)

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KRS removes 'free' non-advised annuity service claim

17 November 2014 10:15 am | By Samuel Dale

Key Retirement Solutions was still claiming its broking service is “free” a year after it made changes.

Comments (2)

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BoE's Carney eyes new banker pay powers

17 November 2014 8:43 am | By Sam Macdonald

BoE is concerned as following financial sector reforms restricting bonus payments, banks have raised the fixed level of pay given to staff.

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WMA teams with AIC to fight Mifid II investment trust proposals

14 November 2014 12:19 pm | By Michael Berry

Investment trusts could be labelled “complex” under Mifid II rules which could hit damage high retail participation in the market, the WMA warns.

Comments (1)

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FCA says small firms still failing on financial crime rules

14 November 2014 11:16 am | By Sam Macdonald

An FCA review has found many small banks and insurance intermediaries are still failing to effectively managed risks around financial crime.

Comments (3)

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Shareholders slam Barclays forex settlement pull-out

14 November 2014 8:40 am | By Sam Macdonald

Investors hit out at the bank’s decision to withdraw from a global regulatory settlement in the foreign exchange rate-rigging scandal saying it will damage its share price.

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Four in 10 advisers have concerns over profits

14 November 2014 8:39 am | By Samuel Dale

Aviva research shows growth in business for the over 55s following Budget reforms.

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Apfa: Advisers must embrace technology to lower cost of advice

13 November 2014 1:24 pm | By Tessa Norman

Advisers can use technology to create efficient and affordable processes, says trade body. 

Comments (2)

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UBS launches 9bps US tracker

13 November 2014 8:54 am | By Michael Berry

UBS Global Asset Management has opened up its recently launched in-house S&P 500 tracker to retail investors. 

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Aegon boosts UK earnings to £22m in Q3

13 November 2014 8:52 am | By Sam Macdonald

Aegon’s UK underlying earnings before tax increased to €28m (£22m) in the third quarter of 2014, up from €22m in the third quarter of 2013.

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Can providers crack the low-cost advice problem?

13 November 2014 8:30 am | By Tessa Norman

Providers are developing low-cost advice solutions in partnership with advisers ahead of the Budget reforms next April, but experts warn on a return to “cosy relationships”.

Comments (1)

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Advice firms merge to manage £550m of funds

12 November 2014 1:30 pm | By Tessa Norman

Combined group will look after 2,000 clients under 14 advisers.

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Punter Southall acquires advice firm

12 November 2014 10:52 am | By Tessa Norman

Group buys Blacktower Financial Advisers for an undisclosed sum. 

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TPAS holds talks with PICA and MAS over adviser directories

10 November 2014 2:17 pm | By Sam Brodbeck

TPAS has held talks with both PICA and MAS about referring guidance customers to their respective directories.

Comments (10)

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Advisers’ hourly fee rates fall 14%

10 November 2014 10:05 am | By Tessa Norman

But charges for specific pieces of work remain largely unchanged. 

Comments (2)

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FSCS Keydata legal battle set to proceed to trial

7 November 2014 3:51 pm | By Tessa Norman

Court rules legal costs to be shared between all firms remaining in the litigation. 

Comments (4)

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OMGI introduces fixed charges on fund range

7 November 2014 1:41 pm | By Sam Macdonald

Old Mutual Global Investors is introducing a fixed expense rate across its funds.

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RDR accelerates drop in self-employed pensions

7 November 2014 11:00 am | By Sam Brodbeck

Experts say extending auto-enrolment not the answer

Comments (9)

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PFS urges advisers to address 'opaque' charges

7 November 2014 9:38 am | By Tessa Norman

Potential clients turned off financial advice by “opaque” charging structures.

Comments (10)

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FCA: Suitability letters too long and unengaging

7 November 2014 8:48 am | By Tessa Norman

Regulator says suitability letters are too geared towards defending potential complaints and not focused enough on client engagement.

Comments (31)

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