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John Lawson: Govt cannot wash its hands of pensions dashboard

Another pensions dashboard deadline has come and gone, despite the original intention to launch in 2019. The feasibility study, first expected in spring and then delayed until summer recess, has still not been published. This begs the question: will the dashboard ever become reality? Rumour abounds that secretary of state for work and pensions Esther […]

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7IM drops gold and adopts general commodities strategy

Seven Investment Management has cut gold from most of its multi-asset portfolios as it moves towards general commodities. 7IM first started eliminating gold from its portfolios last November, when it was cut by 1 per cent across portfolios, and then again this February, with a further 2 per cent cut. Now, it has dropped gold from […]

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Transfer values continue quiet spell over July

Defined benefit pension transfer values remained stable over July and finished where they started, according to the XPS Pensions Group Transfer Index. The reading, both at the end of June and July, stood at £233,000 with the difference between maximum and minimum readings only being £3,200 or around 1.4 per cent. This contrasts with the […]

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Five questions to ask if your client’s Sipp provider is bought

Consolidation in the Sipp market continues, with the rate only likely to increase. This means that, sooner or later, an adviser will more than likely have a client whose Sipp operator is acquired. What five things should you be thinking about? 1. Why was the Sipp provider acquired? Quite simply, is this a commercial acquisition […]

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Consolidator adds mortgage adviser to ranks

Consolidator Fairstone has taken a majority stake in Wokingham-based Allensons Mortgage Advisers. Allensons is rebranding as Fairstone Mortgage Solutions as part of the purchase, which is Fairstone’s fifth since January and brings recurring revenues of £700,000 to the business. A total of 5,000 clients and 13 staff from Allensons have been acquired as part of […]

Magnifying glass in front of an open newspaper with paper houses. Concept of rent, search, purchase real estate.

Pensions watchdog closely monitoring House of Fraser deal

The Pensions Regulator is following Mike Ashley’s acquisition of House of Fraser closely after the sale left thousands of staff facing possible cuts to their pensions. On Friday the retail tycoon’s Sports Direct business agreed to purchase the struggling chain for £90m through a pre-pack administration arrangement. This is an insolvency mechanism where a company […]

FCA opening more cases than ever before

The FCA had more than 500 cases open at the start of April, which is nearly 100 more than the same time last year. According to a Financial Times report, the regulator had a record 504 investigations open as of 1 April, compared with 410 the year before. Of that caseload, 85 cases are looking […]

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GAM to liquidate suspended manager’s bond range

Swiss asset manager GAM is to liquidate nine unconstrained/absolute return bond funds, following the suspension last month of the investment director who ran them. GAM suspended trading in its unconstrained and absolute return bond funds at the start of August, after a high level of redemption requests. In a letter posted on its website on […]