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NatWest repeals mortgage ban against Financial Ltd advisers

28 August 2014 1:05 pm | By Michael Glenister

Lender suspended new mortgage applications earlier this month.

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Vanguard slashes trackers fees by as much as 50%

28 August 2014 11:04 am | By Pamela Morris

The firm has also reduced ongoing charges across a number of ETFs and its full range of LifeStrategy funds.

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Reyker saga continues with direct calls to advised clients

28 August 2014 9:52 am | By Tessa Norman

Firm accused of soliciting advisers’ clients. 

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Caerus operations head to step down

28 August 2014 9:52 am | By Michael Glenister

Former Honister Capital employee services director Lynn Smith to leave Caerus in November. 

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200 businesses sign Scottish 'Yes' vote letter

28 August 2014 8:48 am | By Pamela Morris in Edinburgh

The letter comes after business leaders who support staying in the UK wrote their own letter stating that Scottish independence would be bad for business.

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James Hay parent sells Irish advice arm for £10.8m

28 August 2014 8:42 am | By Sam Macdonald

Deal consists of initial sum of £9.2m and a deferred £1.6m based on revenue and combined business.

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ECB appoints BlackRock to advise on bond-buying

28 August 2014 8:28 am | By Sam Macdonald

BlackRock’s advisory arm will aid the ECB in designing a programme to buy asset-backed securities to ease credit conditions in the eurozone.

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Succession acquires advice firm in £3m deal

27 August 2014 3:24 pm | By Michael Glenister

Consolidator makes tenth acquisition with backing from private equity firm Inflexion.

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PosSol offers advisers cash advance to cover commission delays

27 August 2014 12:33 pm | By Michael Glenister

Advisers are around £500 worse off in some cases.

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FE Select 100 upgrades Barnett’s Invesco Income fund

27 August 2014 12:07 pm | By Pamela Morris

The Invesco Perpetual had previously been downgraded to ‘hold’ after Neil Woodford’s exit earlier this year.

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Lagarde probed over 'negligent' role in Sarkozy scandal

27 August 2014 12:05 pm | By Michael Berry

IMF boss Christine Lagarde’s potentially negligent role in a Nicolas Sarkozy scandal is being formally investigated by a French court.

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MAS considers extending retirement directory to all advisers

27 August 2014 11:06 am | By Tessa Norman

MAS confirms plans to go ahead with adviser directory but criteria may be extended. 

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Elcot Capital acquires up to 50% Premier stake

27 August 2014 8:22 am | By Pamela Morris

Electra will still hold a minority interest in Premier Asset Management.

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Three directors of Ucis advice firm disqualified

26 August 2014 4:49 pm | By Tessa Norman

Three directors banned for unsuitable recommendations worth £2m and unauthorised transfers. 

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FOS upholds complaint over pension ‘pressure sale’

26 August 2014 3:55 pm | By Tessa Norman

Consumer claims he was pressured into taking out a pension by Sun Life Financial of Canada.

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Ex-Ashcourt Rowan boss sets simplified advice charges at 0.75%

26 August 2014 11:21 am | By Michael Glenister

Wealth Horizon to charge 0.25 per cent for initial advice and 0.5 per cent ongoing.

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Prudential switches ACD on funds to Capita

26 August 2014 10:38 am | By Pamela Morris

Capita will take over management, administration and fund accounting for the Prudential Oeics toward the start of November.

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Headline fund fees only make up 'one fifth' of full charges

26 August 2014 8:53 am | By Sam Macdonald

Railpen investments, which manages £20bn for 350,000 scheme members, pays around £70bn annually in fees disclosed by fund groups.

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Salmond: Scotland has '3 plan Bs' for currency

26 August 2014 8:43 am | By Pamela Morris in Edinburgh

Scotland’s first minister insisted the Scottish government has already set out three currency alternatives in the latest live debate with Alistair Darling.

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Henderson and Bellpenny to end £27m fund deal

22 August 2014 3:38 pm | By Tessa Norman

Henderson says assets under management are insufficient to make fund commercially viable. 

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Skandia to shut Invesco funds and switch £640m to Woodford

22 August 2014 1:47 pm | By Sam Macdonald

Skandia says the move has been made on the back of investor feedback and is in the best interests of clients.

Comments (7)

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Alan Lakey sues Forester Life over axed trail

22 August 2014 1:20 pm | By Tessa Norman

Adviser is taking insurer to small claims court over trail commission. 

Comments (24)

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PI brokers raise concerns over new insurer

22 August 2014 11:46 am | By Tessa Norman

Unrated insurer may not have sufficient financial strength to pay claims, say brokers

Comments (3)

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Caerus hit by collapse of member firm

22 August 2014 9:55 am | By Michael Glenister

Administrators ReSolve seeking £1.2m in pipeline commission from network.

Comments (6)

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Sipp claims pose FSCS interim levy risk for advisers

22 August 2014 8:45 am | By Natalie Holt

FSCS says there is a “medium risk” that life and pensions advisers could be hit with an interim levy due to increased Sipp claims.

Comments (1)

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Gallagher takes legal action against ex-Oval advisers

21 August 2014 12:20 pm | By Michael Glenister

Legal challenges follow disputes over client servicing rights.

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Tenet granted consumer credit licence

21 August 2014 12:20 pm | By Devraj Ray

Network claims it is the first to become fully licensed for consumer credit services.

Comments (5)

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Nucleus posts £1m profits as it explores new adviser stake options

21 August 2014 12:00 pm | By Sam Macdonald

Nucleus saw £965m inflows, up 15 per cent from £837m in 2013 and also moved onto new Bravura Solutions platform Sonata.

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FSCS seeks PR firm for contract worth up to £540k

21 August 2014 10:03 am | By Steve Tolley

FSCS cannot say how much will be paid by advisers.

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Alexander House joins Caerus

21 August 2014 9:56 am | By Tessa Norman

Advice firm launched by ex-Sesame director Nick Kelly joins network Caerus. 

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Puppets on a string: Are FCA and Govt dancing to the lobbyists’ tune?

21 August 2014 8:30 am | By Steve Tolley

Financial services lobbyists met with Government and the FCA more than 600 times in 2013. But is this a problem or democracy in action?

Comments (5)

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IFP makes £17k pre-tax loss in 2013

20 August 2014 1:00 pm | By Tessa Norman

Loss follows four years of profitability for the professional body. 

Comments (6)

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StanChart given high-risk client ban in $300m settlement

20 August 2014 9:00 am | By Michael Berry

Standard Chartered has been banned from dealing in US dollars with some clients following its $300m settlement with US regulators for poor action on money laundering.

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Govt decided against further Royal Mail sell-off

20 August 2014 8:58 am | By Sam Macdonald

Business Secretary Vince Cable and his advisors considered the sale of the remaining 30 per cent stake following its listing five months prior.

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M&G's Woolnough takes equity exposure below 3%

19 August 2014 1:54 pm | By Jon Yarker

Elsewhere duration trimmed by 0.1 years.

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Salmond says sterling could be used as 'transitional' Scottish currency

19 August 2014 11:50 am | By Pamela Morris

Scotland’s first minister remained adamant that sharing the pound in a formal currency union with the UK is still the “best” long-term option for the independent country.

Comments (7)

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Ex-Honister adviser jailed for five years over £85k theft

19 August 2014 11:08 am | By Michael Glenister

Stewart Sermon pleaded guilty to two counts of theft earlier this week.

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Jupiter's Derek Pound to depart as Global Energy closes

19 August 2014 10:39 am | By Sam Macdonald

Pound has been with Jupiter since 1995 and is currently co-manager of the Jupiter Primadona Growth trust as well as a manager of the UK equity segment of the Jupiter Global Managed fund.

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StanChart set to pay further $300m over anti-money laundering failings

19 August 2014 8:54 am | By Sam Macdonald

The latest allegations relate to failures to spot potentially illegal payments as a result of failings in its anti-money laundering checks.

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SimplyBiz hires Aviva workplace benefits manager

18 August 2014 11:21 am | By Michael Glenister

Tom Nall joins as director of workplace solutions.

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