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L&G shuns non-advised drawdown in pension freedoms overhaul

4 March 2015 10:48 am | By Sam Brodbeck

£10k minimum for cash out and fixed-term annuity options.


Openwork and Newton join forces on multi-asset income launch

3 March 2015 12:57 pm | By Beth Brearley

The Openwork Group is teaming up with Newton Investment Management to launch a multi-asset income fund.


Former L&G annuities boss Tim Gosden returns to MGM

2 March 2015 1:51 pm | By Mark Sands

L&G’s former head of strategy for individual annuities has returned to MGM Advantage after a decade away.

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AFH Financial acquires advice firm for £970k

2 March 2015 8:35 am | By Tom Selby

Consolidator AFH Financial has acquired Rochester-based advice firm CIB Wealth Management in a deal that could eventually be worth over £970,000.


Crackdown: Politicians set their sights on tax avoidance

27 February 2015 8:30 am | By Mark Sands

A growing political consensus could result in aggressive new tax legislation regardless of the winner of this year’s election.

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L&G plans fixed-term annuity launch

26 February 2015 11:00 am | By Sam Brodbeck

Legal & General is to launch a new fixed-term annuity to help savers limit the income tax they pay when accessing their pensions after April.

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Govt refuses to disclose pension guidance take-up estimate

26 February 2015 9:30 am | By Sam Brodbeck

Reforms risk “descending into chaos” unless Government publishes estimate.

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RBS reports £3.5bn loss as disposal costs and misselling provisions bite

26 February 2015 8:56 am | By Tom Selby

RBS has reported a loss of £3.5bn in 2014 as costs associated with the disposal of its US bank Citizens and misselling provisions weighed on the firm.

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Rising from the ashes: Will annuities recover from Osborne's Budget bombshell?

26 February 2015 8:30 am | By Sam Brodbeck

Provider predicts annuities will hit pre-Budget levels in just two years’ time.

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Ex-FSA chair Howard Davies to succeed Philip Hampton as RBS chairman

26 February 2015 8:23 am | By Tom Selby

Davies will step down from his roles at Phoenix and Morgan Stanley.


Old Mutual Wealth completes Quilter Cheviot acquisition

25 February 2015 1:42 pm | By Tessa Norman

Wealth manager has £16.7bn funds under management. 

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ABI chairman: Legacy of commission is 'open sore' that undermines consumer trust

25 February 2015 1:41 pm | By Sam Brodbeck

Commission paid to advisers is an “open sore” that continues to undermine confidence in the insurance industry, ABI chair and AXA UK group chief executive Paul Evans says.

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How much do clients value their adviser?

25 February 2015 12:12 pm | By Tessa Norman

Latest ‘value index’ from Vanguard suggests clients value their adviser more than a year ago. 


SJP moves into banking as distribution arm posts £11m loss

25 February 2015 8:59 am | By Natalie Holt

Wealth manager is to launch a banking service in April powered by Metro Bank.

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Apfa calls for audit of 'unacceptable' FSCS costs

24 February 2015 1:11 pm | By Tom Selby

Trade body is particularly concerned about spiralling cost of lifeboat funds change programme.

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Phoenix boosts with-profits annual bonus payouts

24 February 2015 12:34 pm | By Sam Brodbeck

More than 77 per cent of policies receive annual bonus.


Wealth managers and IFAs under threat by tech upheaval

23 February 2015 3:29 pm | By Michael Berry

Asset managers are unlikely to be blown away by technology’s winds of change, but advisers and wealth managers may not be as lucky, Create-Research says. 

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ABI sets out 'nudge' tactics for pensions guidance

23 February 2015 8:37 am | By Sam Brodbeck

Report recommends “cooling off” periods if savers take too much of their pension pot at once.

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CII overhauls qualifications in line with pension freedoms

20 February 2015 11:00 am | By Mark Sands

The CII is to offer a new unit to train advisers on pension freedoms as soon as rules are finalised.

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Standard Life pays out £17m refund to with-profits fund

20 February 2015 8:53 am | By Natalie Holt

Provider is also expecting to annuity profits this year to fall by up to £15m.

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Platform Action appoints David Child non-exec chair

19 February 2015 12:13 pm | By Sam Brodbeck

Child was formerly managing director of 1st Exchange.


Adviser clashes with Pru over client contact

19 February 2015 11:00 am | By Tessa Norman

Adviser claims provider contacted his client after receiving a letter of authority from his firm. 

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Aegon earnings up 37% but life business slumps by a quarter

19 February 2015 10:38 am | By Sam Brodbeck

Aegon UK’s pre-tax earnings grew 37 per cent year-on-year despite the firm’s life business being hit by the costs of complying with Solvency II regulations.

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Fourth time lucky: Will FCA finally resolve cap-ad confusion?

19 February 2015 8:30 am | By Tessa Norman

FCA set to consult on changes to capital adequacy rules just months ahead of implementation. 

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Govt urged to mandate advice before savers cash in pension guarantees

18 February 2015 3:36 pm | By Sam Brodbeck

Members need to be protected from giving up valuable benefits.

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Advice firm LEBC posts £1.1m profit

18 February 2015 2:21 pm | By Sam Brodbeck

Company warns opportunities created by pension freedoms could be stunted by lack of “high calibre” advisers.

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MetLife cuts rates on guaranteed drawdown products

18 February 2015 12:22 pm | By Sam Brodbeck

Insurer blames decline in long-term interest rates and stunted global growth.


Hargreaves introduces drawdown exit penalty in pricing overhaul

18 February 2015 8:46 am | By Tom Selby

Hargreaves Lansdown will hit savers who attempt to withdraw their entire pension fund within 12 months of opening an account post-April with a £295+VAT penalty.

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FSCS recoups £52m through Keydata legal battle

18 February 2015 8:38 am | By Natalie Holt

Compensation scheme says it did not pursue claims against advisers “simply to force them to go bust”.

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Jonathanfry and Easby Gale & Phillipson complete merger

17 February 2015 2:59 pm | By Tessa Norman

Combined business will advise on £700m in assets. 


'Massive disparity' in pension modelling tools risks confusing customers

17 February 2015 1:19 pm | By Sam Brodbeck

Investment returns range from below 1.5 to 7 per cent.

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More savers ditching annuity guarantees for cash post-Budget

13 February 2015 1:55 pm | By Sam Brodbeck

Number of customers with guaranteed annuity rates cashing out doubles since Budget.

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FCA publishes first data on compliance guarantees

13 February 2015 12:17 pm | By Tessa Norman

Data shows attestations are being used among firms of all sizes. 

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Unbiased winners talk promoting pension freedoms and sensible financial planning

13 February 2015 11:00 am | By Tessa Norman

The winners of the Unbiased Media Awards on communicating with clients and making time for the media. 

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Advisers slam Now: Pensions over £500 employer exit fee

13 February 2015 10:05 am | By Sam Brodbeck

Employers switching auto-enrolment providers within two years hit with penalty.

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Jelf launches telephone advice service

13 February 2015 10:04 am | By Tessa Norman

Service will provide focused advice for clients using pension freedoms.


Senior policy and technical staff exit Apfa

13 February 2015 8:35 am | By Tessa Norman

Senior technical adviser and policy adviser leave the trade body. 


FTSE launches annuity index

12 February 2015 9:33 am | By Sam Brodbeck

Daily series tracks value of pension savings against annuity prices.

Comments (1)

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The changing shape of distribution: Are new models sustainable?

12 February 2015 8:30 am | By Tessa Norman

As consolidation changes the shape of the advice market, experts are questioning whether clients’ interests are being lost in the battle for assets.  

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Govt 'guidance guarantee' website goes live

11 February 2015 4:40 pm | By Sam Brodbeck

Government’s retirement guidance site takes user through six steps.

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