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Ex-adviser jailed for five years over fraud

19 December 2014 5:05 pm | By Sam Brodbeck

Alok Dhanda found guilty of 37 counts of fraud.

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Former Arck partner pleads guilty to £50m fraud

19 December 2014 4:09 pm | By Sam Brodbeck

Richard Clay pleads guilty to three fraud charges.

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Pensions guidance qualification launched

18 December 2014 8:20 am | By Sam Brodbeck

PMI and JLT aim certificate at administrators, paraplanners and HR professionals.

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MPs warn FCA of ignoring duties to pension savers

17 December 2014 3:44 pm | By Sam Brodbeck

DWP committee say poor customer outcomes will be “FCA’s fault”.

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Landmark ruling orders transfer out of liberation scheme

17 December 2014 1:30 pm | By Sam Brodbeck

But Pensions Ombudsman warns member’s entire savings could have already “disappeared”.

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L&G scraps face-to-face adviser support team

17 December 2014 11:00 am | By Tom Selby, Sam Brodbeck

Insurer responds to “changing adviser behaviour”.

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FCA asks for help in explaining indy/restricted advice

16 December 2014 12:14 pm | By Natalie Holt

Regulator admits advice labels are not resulting in better consumer understanding.

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RDR has pushed up cost of advice

16 December 2014 11:37 am | By Natalie Holt

Research says some advisers are recommending low-cost passive funds rather than reducing charges.

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AFH Financial raises £1.9m to fund further acquisitions

16 December 2014 8:49 am | By Sam Brodbeck

Consolidator eyes acquisitions in new locations.

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MAS backtracks on adviser directory criteria

15 December 2014 2:14 pm | By Tessa Norman

Firms will not have to specialise in retirement advice to be included in directory.

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MAS told to slash costs and cut staff by almost two-thirds

15 December 2014 8:46 am | By Sam Brodbeck

Damning Treasury-commissioned report recommends 60 per cent cut in staff numbers and budget cuts of £30m.

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Ex-Towry boss to advise Irish wealth manager

12 December 2014 4:52 pm | By Michael Berry

Former Towry boss Andrew Fisher has joined the business advisory board of Davy Private Clients.

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More advisers outsource post-RDR as smaller clients are left behind

12 December 2014 1:24 pm | By Philip Scott

Almost one in five advisers have asked clients who have less than £50,000 to invest to leave.

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Openwork to add income proposition to Omnis multi-asset range

11 December 2014 10:14 am | By Adam Lewis

Openwork has announced plans to expand its Omnis Graphene multi-asset fund range, adding an income solution alongside its existing Cautious, Balanced and Adventurous risk-rated model portfolios.

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Berkeley Burke demands suitability report for client transfers

10 December 2014 3:25 pm | By Sam Brodbeck

Sipp provider changes process after FCA visit.

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Protection Review expands into retirement income market

10 December 2014 10:35 am | By Devraj Ray

New body will host its inaugural conference in February 2015.

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True Potential enters auto-enrolment market

10 December 2014 8:51 am | By Sam Brodbeck

Employers can choose from a range of LGIM default funds charging up to 0.74 per cent.

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Hargreaves Lansdown’s CFO Tracey Taylor to exit

5 December 2014 2:43 pm | By Philip Scott

Leaves discount broker after 15 years with the firm

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Foster Denovo exodus continues as two more partners quit

5 December 2014 2:30 pm | By Tessa Norman

Departures are the latest in a series of high profile exits. 

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IFS: Autumn Statement will mean 'colossal' spending cuts

5 December 2014 8:37 am | By Sam Macdonald

IFS director Paul Johnson says specific details of the cuts had yet to be confirmed by the Treasury.

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ECB holds rates as Draghi paves way for QE in 2015

4 December 2014 3:36 pm | By Sam Macdonald

The Governing Council of the European Central Bank announced it is keeping interest rates on hold at the its monthly meeting today.

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Six IMA members to invest £9bn in UK private placements

4 December 2014 10:37 am | By Philip Scott

Six IMA members are set to invest around £9bn in UK private placements and other direct lending to UK companies over the coming five years

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Vanguard November inflows hit $21bn

4 December 2014 8:59 am | By Sam Macdonald

Vanguard brought in some $21.3bn inflows in November into its index tracker funds.

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Woodford buys into digital bank Atom

4 December 2014 8:40 am | By Sam Macdonald

Bank is set to launch in 2015 and says Woodford is a “cornerstone” of its shareholder base which has raised £25m of equity investment.

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AS 2014: Govt launches £360m tax crackdown on hedge and private equity funds

3 December 2014 3:40 pm | By Sam Macdonald

The Government has launched a £360m crackdown on hedge funds and private equity funds disguising income by rolling management fees into performance fees.

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AS 2014: Treasury U-turns on single nil-rate IHT trust proposals

3 December 2014 3:02 pm | By Sam Macdonald

The Government has U-turned on its proposals to introduce a single nil-rate inheritance tax band across multiple trusts in April 2015.

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AS 2014: OBR revises down unemployment forecast

3 December 2014 1:05 pm | By Sam Macdonald

The Office for Budget Responsibility has revised down its forecast for unemployment for next year to 5.4 per cent and says it will then settle at 5.3 per cent.

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Osborne set to give non-UK fund groups CGT exemption

3 December 2014 10:25 am | By Sam Macdonald

The UK Treasury is set to offer a carve out in the Capital Gains Tax regime for non-UK asset managers.

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Kames launches equity absolute return funds

3 December 2014 8:54 am | By Michael Berry

Kames Capital has doubled its absolute return range with the launch of two market neutral equity funds.

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Brewin profits dive 70% on tech writedown

3 December 2014 8:52 am | By Sam Macdonald

Brewin Dolphin’s profit before tax fell 70 per cent to £8.6m in the 12 months to 28 September, largely due to £34m costs associated with its major technology writedown.

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Tesco reinstates suspended executive

2 December 2014 8:34 am | By Sam Macdonald

Tesco has reinstated one of the executives it suspended following the overstatement of its half-year profits.

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Old Mutual: Fund mergers will trigger clean share class conversion

1 December 2014 12:03 pm | By Sam Macdonald

Old Mutual Wealth is to convert clients into clean share classes automatically where they are invested in funds that merge following guidance from the FCA.

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Bellpenny acquires Essex-based IFA

1 December 2014 10:09 am | By Sam Macdonald

IFA Consolidator firm Bellpenny has acquired Essex-based IFA business Unizone.

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Aberdeen hit by £20bn outflows

1 December 2014 8:37 am | By Sam Macdonald

Aberdeen was hit by £20.4bn outflows from its business in the year to 30 September 2014, its annual accounts have revealed.

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MGM Advantage enters drawdown market

28 November 2014 2:08 pm | By Sam Brodbeck

Adviser-led Retirement Account allows savers to combine annuities and flexi-drawdown in one product.

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Eurozone inflation falls to 0.3%

28 November 2014 10:54 am | By Sam Macdonald

Euro area inflation fell to 0.3 per cent in November, from 0.4 per cent in October, according to the latest flash estimate by Eurostat.

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Chris Gilchrist's FiveWays links with Parmenion for new proposition

28 November 2014 9:25 am | By Sam Macdonald

Chris Gilchrist’s FiveWays Financial Planning has teamed up with discretionary model platform provider Parmenion for the launch of its new investment proposition.

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Japan core inflation falls to 0.9%

28 November 2014 8:36 am | By Sam Macdonald

Japanese core inflation fell to a 13-month low of 0.9 per cent in October with not long to go before a vote on a rise in sales tax.

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Financial Planning Week and beyond: The new wave of adviser innovation

28 November 2014 8:30 am | By Tessa Norman

Advisers using documentaries, seminars and writing books to reach out to new and existing clients. 

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Ex-Lloyds FD joins Alliance Trust board

28 November 2014 8:19 am | By Sam Macdonald

Alliance Trust has appointed former Lloyds Banking Group insurance division finance director Gregor Stewart as non-executive director.

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