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Bellpenny acquires Glasgow-based advice firm

1 September 2014 9:51 am | By Michael Glenister

Deal sees more than 1,000 clients and £108m in assets under advice move to consolidator.


Behind the scenes at latest rogue Ucis advice firm

29 August 2014 1:21 pm | By Tessa Norman

Financial adviser banned and fined by the FCA misled thousands of consumers. 

Comments (4)


FCA bans and fines adviser £350k for Ucis failings

29 August 2014 9:55 am | By Tessa Norman

Director of London-based advice firm promoted Ucis without adequate checks. 

Comments (2)


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.

Comments (2)


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.


Reyker saga continues with direct calls to advised clients

28 August 2014 9:52 am | By Tessa Norman

Firm accused of soliciting advisers’ clients. 


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. 


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.


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.


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.


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.

Comments (16)


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.


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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OShea Mike Premier

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.


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. 

Comments (8)


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.

Comments (5)


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.


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.


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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Kevin Ronaldson Bellpenny 700

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. 


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)


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)


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)


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)


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)


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.


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)


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.


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.

Comments (20)


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. 

Comments (1)

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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)


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)


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.


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.


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.


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)


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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