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Banks to certify own advisers as 'fit and proper'

30 July 2014 1:01 pm | By Steve Tolley

Approved persons regime will continue to apply to IFAs but not bank advisers.

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Tribunal upholds ban and fines hedge fund manager £2.7m

30 July 2014 12:47 pm | By Sam Macdonald

Alberto Micalizzi was banned and fined in May 2012 for not being fit and proper.


Jupiter increases AUM to £33bn but profits dip 18%

30 July 2014 8:29 am | By Sam Macdonald

Total net inflows rose to £1.3bn but pre-tax profit falls to £48.4m.


Succession acquires Target Wealth Management in £5m deal

29 July 2014 1:08 pm | By Michael Glenister

IFA consolidator acquires Target, adding £120m in assets under advice.


Woodford fuels record £1.4bn rush into UK Equity Income

29 July 2014 11:51 am | By Michael Berry

A record £1.4bn flowed into UK Equity Income in June, driven by the launch of Neil Woodford’s much-anticipated solo fund.


BlackRock hard-closes European Opportunities Extension fund

29 July 2014 9:42 am | By Sam Macdonald

The fund prevented new subscriptions from new and existing shareholders from 22 July.


SJP profits down as FSCS levy hits distribution arm

29 July 2014 8:47 am | By Tom Selby

St James’s Place has reported an 8.5 per cent drop in pre-tax profits, from £90.1m in the first half of 2013 to £82.4m this year.

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DeAWM poaches Allianz GI Europe chief

28 July 2014 10:18 am | By Sam Macdonald

James Dilworth replaces Wolfgang Matis who retired in June.

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Aberdeen hit with £4bn equities redemption as outflows reach £5.5bn

28 July 2014 8:38 am | By Michael Berry

Aberdeen Asset Management had £5.5bn of outflows in the third quarter, alongside £3.3bn outflows from Swip funds.

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AFH Financial buys Scottish advice firm for up to £675k

28 July 2014 8:36 am | By Natalie Holt

Consolidator marks first deal since listing on Aim in June.


Ratings agency raises concerns over FundsNetwork transparency

25 July 2014 11:30 am | By Sam Macdonald

The FundsNetwork platform is legally owned by the Bermuda-domiciled FIL Ltd.

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Ashcourt Rowan intermediary head leaves after four months

25 July 2014 11:24 am | By Sam Macdonald

Chris Legge was formerly Brewin Dolphin intermediary business development manager.


IMF lifts UK growth forecast as US and Russia see sharp drops

24 July 2014 5:35 pm | By Sam Macdonald

International Monetary Fund has upgraded the UK’s growth forecast for this year to 3.2 per cent.


Alan Lakey: Why I quit Apfa council

24 July 2014 3:57 pm | By Tessa Norman

Highclere Financial Services partner Lakey says he had ‘no influence’ as a council member. 

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Alan Lakey steps down from Apfa council

24 July 2014 12:57 pm | By Tessa Norman

Lakey steps down after 18 months on the Apfa council. 

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Old Mutual plans to retain Intrinsic mortgage arm

24 July 2014 11:00 am | By Michael Glenister

Chief executive Paul Feeney says the firm has no plans to acquire further distribution. 

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Ashcourt Rowan appoints HSBC duo as investment directors

24 July 2014 10:35 am | By Sam Macdonald

Andre Girault and Tim Dickens will both take up role of investment directors in firm’s London office.


FCA set for independent advice and referrals talks

24 July 2014 9:30 am | By Tessa Norman

FCA agrees to meet with ICAEW after experts raised concerns the regulator had wrongly interpreted its own rules. 

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Guidance cover

Advisers face writing blank cheque to fund Osborne's guidance guarantee

24 July 2014 8:30 am | By Steve Tolley, Tessa Norman

Cost of delivering Chancellor George Osborne’s guidance guarantee could spiral as savers access the service as many times as they like.

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Advisers remain critical of Aegon despite trail commission U-turn

24 July 2014 | By Michael Glenister

Last week, Aegon announced it had reversed trail commission policy following criticism from advisers

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Standard’s UK smaller cos fund in Spot the Dog list for first time

24 July 2014 | By Sam Macdonald

Three M&G funds made up 55 per cent of the £19.55bn assets on the Spot the Dog list.


Succession acquires LRH Wealth Management for £3m

23 July 2014 4:56 pm | By Steve Tolley

Deal part of ongoing plan for aggressive expansion over the next 12 months.


L&G hires Aviva Investors manager for multi-asset team

23 July 2014 12:30 pm | By Jon Yarker

Andrzej Pioch will work alongside the firm’s multi-asset team.


Schroders Global Property Securities manager Rehlaender quits European Investors

23 July 2014 10:28 am | By Sam Macdonald

Rehlaender’s departure comes after Schroders announced it was taking the management of all Global Property securities funds in-house. 


Kearney exits Aberdeen and hands over multi-asset reins to Swip duo

21 July 2014 4:23 pm | By Pamela Morris

SWIP’s Mark Harries and Simon Wood will now oversee Aberdeen’s multi-manager range as Aidan Kearney exits.


Apfa slams FCA move to make advisers fund Budget guidance

21 July 2014 3:14 pm | By Tessa Norman

It is “inappropriate” for advisers to pay for the Budget guidance service, says Apfa

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FCA: What Budget guidance will look like

21 July 2014 1:55 pm | By Steve Tolley

FCA reveals there will be no limit to how many times savers can use the service in retirement.

Bestinvest spot the dog 07/14

Bestinvest names SLI's Nimmo in Spot the Dog list for first time

19 July 2014 7:00 am | By Sam Macdonald

Three M&G funds made up 55 per cent of the £19.55bn assets on the Spot the Dog list.


FCA could still surpass Mifid II on dealing commission

18 July 2014 1:00 pm | By Sam Macdonald

The FCA has confirmed it is set to make one asset manager pay redress to clients over improper use of dealing commission.


FSCS widens net in Keydata legal battle

18 July 2014 12:20 pm | By Tessa Norman

FSCS seeks to make firms with claims against them of between £100k and £150k test cases in legal battle with advisers over Keydata.


Aegon U-turns on removing adviser servicing rights

18 July 2014 10:23 am | By Michael Glenister

Provider will not alter details unless it gets positive affirmation.

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Walker Crips increases AUM by 3% in Q1

18 July 2014 8:33 am | By Sam Macdonald

Walker Crips has reported a 3 per cent increase in discretionary and advisory assets under management to £1.37bn.


Hoban: MAS budget could rise to fund 'Retirement Saver Service'

17 July 2014 1:04 pm | By Steve Tolley

Former Treasury financial secretary Mark Hoban says new service should be “much closer” to regulated advice.

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Andrew Fay

Close Brothers wealth management heads step down

17 July 2014 12:30 pm | By Michael Glenister

Andy Kay and Simon Redgrove leave, having founded Cavanagh, acquired by Close Brothers in 2011


SimplyBiz closes Capital Rewards scheme following FCA inducements rules

17 July 2014 9:45 am | By Michael Glenister

Capital Rewards business set up in 2007 to close in 2015.

Comments (3)


HMRC recoups £135m from Swiss banking clients

17 July 2014 8:37 am | By Pamela Morris

A list of 24,000 client names across Europe was leaked by former HSBC private bank employee Herve Falciani.


SNP's Stewart Hosie and Labour's Gregg McClymont go head-to-head over Scottish independence

17 July 2014 8:30 am

SNP finance and treasury spokesman Stewart Hosie and Labour shadow pensions minister Gregg McClymont put forward competing arguments for and against a Yes vote.


Henderson increases fee on TR European Growth trust

16 July 2014 10:41 am | By Sam Macdonald

The trust is managed by Henderson Pan European Smaller Companies associate director Ollie Beckett.


UK unemployment falls to 6.5%

16 July 2014 9:54 am | By Sam Macdonald

UK unemployment fell to a new five-year low of 6.5 per cent in the three months to May.

Comments (1)


Square Mile launches new fund rating service

16 July 2014 8:39 am | By Sam Macdonald

Square Mile Academy of Funds will recommend funds using A, AA or AAA ratings.

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