Advisers are publishing their fees on review website VouchedFor in an effort to be more transparent. Research by VouchedFor for the Sunday Times shows 423 advisers, representing 263 firms, have published their charges on the site. VouchedFor, the review site for financial and mortgage advisers, solicitors and acountants, does not publish adviser charges on their […]
The parent of Yorkshire Bank and Clydesdale Bank has agreed to buy Virgin Money for £1.7bn. The businesses say the deal will create the UK’s first “true national banking competitor to the status quo”. The new group will serve around six million customers. A notice to investors from CYBG says: “The combined group will have […]
Sometimes in business you can have an exceptional year and, provided you do not take it for granted, all is good. Allowing expenses to match an unsustainable increase in revenue is asking for trouble. As the claims deadline for PPI draws closer, it is clear the ambulance chasers will be looking elsewhere to continue the […]
Protection Review chief executive Kevin Carr looks at recent market events Power to the people Now in its third year, the Protection Distributors Group has recently launched its “Claims Charter”, which aims to improve the basic levels of best practice undertaken by insurers when dealing with claims. Over the last two years, the group has […]
The Pensions Ombudsman has ruled AJ Bell must compensate a client for investment losses attributable to a botched transfer to James Hay Partnership. Mr R’s complaint against AJ Bell is it was partly responsible for the delay in the transfer of funds that shut him out of the market and lost him thousands of pounds. […]
Embattled mutual insurer Equitable Life has been bought by Reliance Life, part of the Life Company Consolidation Group. In March reports emerged the firm was preparing to sell. Equitable Life, which has been in run-off since closing to new business in 2000, was still technically owned by its more than 300,000 remaining policyholders, most of […]
A lot of recent work in the pensions world has been aimed at helping individuals engage with retirement saving: to better understand what they have already, how much they might need and what they will have to save to reach their target levels. The pensions dashboard project and the Pensions and Lifetime Savings Association’s work […]
As consolidators continue to acquire advice firms, analysts are assessing the financial position of key firms in the market to see how long the buying spree can continue. Aim-listed AFH continues to lead the way in volume of acquisitions, with 14 in the year to October 2017, its recently released accounts show, and eight so […]
The former managing director of a Hertfordshire wealth management firm has been charged with fraud by the City of London Police. Freddy David, previously managing director of HBFS Financial Services, was charged with obtaining money transfers by deception and fraud by abuse of position. David was released on bail to the City of London Magistrates […]
The Financial Guidance and Claims Bill will not apply to introducers, the government has confirmed in a letter published today. The letter is a response to MPs who expressed concern the cold call ban is unlikely to protect consumers and their pensions from unregulated introducers who do face-to-face marketing. It sheds light on how the […]
Bank branches across the UK are closing at a rate of around 60 a month, new research from consumer group Which? has found. By the time we reach the end of 2018, 2,868 branches will have closed in the last three years. RBS has led the way in closures, but the rate of branches shutting […]
A two-man Welsh advice firm has racked up almost £2m in contingent liabilities from complaints about pension transfers to Sipps, Money Marketing has learned. According to annual accounts published on Companies House for the 12 months ending 31 July 2017, Kingsway Wealth Management is “vigorously” contesting a number of compensation claims against it. The firm […]
Scotland’s largest independent wealth manager Speirs & Jeffrey will change its name after its £104m acquisition by Rathbones. Rathbones announced this morning it is buying Speirs & Jeffrey, which has funds under management of £6.7bn. The initial consideration of £104m comprises £79m cash and £25m through the issue of new Rathbone shares. Rathbones is also lining […]
The Financial Services Compensation Scheme declared eight firms in default in May, including advice firms from Wales, Yorkshire and the Midlands. The firms on the list include Welsh adviser Grosvenor Butterworth, West Midlands advisers Lifeboat Financial Advisers and Platinum Independent Advisers and London-based Argent Personal Finance Managers. Also on the list are Yorkshire firms Alliance […]
Sipps have taken a bit of a beating recently, that much is for sure. They have been painted as a willing participant in the defined benefit pension transfer con. Trust us, you should ditch the warm comfort of your company scheme for your own flexible pension. Trust us, our overseas property scheme is the only […]
Investors who lost money after the collapse and suspension of the Connaught Income Fund in 2012 will now have to wait for the FCA to seek specialist tax advice before redress payments can be distributed. Although administrators Duff & Phelps have now received previously missing data needed to complete the redress calculations, the regulator has […]
Platforms that started life as part of a larger investment or pension provider still struggle to make a profit when compared to start-ups, research from Altus Consulting shows. In a new white paper, Altus says the key to the “pure” platforms’ success – those that did not start as part of a life company, for […]
Administrators estimate it could take hundreds of hours to handle nearly £56m of compensation claims against collapsed Sipp firm Lifetime Sipp Company. In a report published today on Companies House, Kingston Smith & Partners says “an unusually high level of time will be required” to deal with consumer claims. Kingston Smith estimates it could take […]
Old Mutual chief executive Bruce Hemphill has predicted that more financial services firms will look to follow his firm’s lead and separate their businesses. In an interview with the Times, Hemphill says that the regulatory environment since the financial crisis means that those with a global footprint will look to focus in on different geographies. […]
Income payments are increasing in frequency and size from investment trusts, new data suggests. Data from broker Winterflood Securities cited by the Financial Times shows that between 2013 and 2017, the proportion of trusts that paid some form of dividend for the year rose from 69 per cent to 82. The proportion of the 321 […]
Bournemouth-based IFA Kevin Forbes of Strategic Solutions has partnered with consultants from Simplify Consulting, representatives of Bournemouth University and other IFAs to launch a student placement programme to encourage young people to join the profession. The “plug and play” initiative Future of Advice is aiming to get 10 students each year placed in advice firms […]
Is industry right to think dashboard will boost engagement when inertia has proved such a dominant behaviour? The pensions dashboard concept has captured the imagination of the government and industry, and the attraction is obvious. Digitalise all existing records so individuals can see their aggregated pension entitlements in once place at the click of a […]
Hands up who likes looking stupid? No, me neither, though the sub-textual retort of my wife’s eyebrow, raised in my direction (or rather the direction of the Cuban heels on my new boots) screams “you could have fooled me”. She may have a point, but there is a difference in questionable sartorial choices and foolishness […]
An awful lot of time is being dedicated to asking platforms to justify their existence, particularly in light of various botched re-platforming projects. But the point gets convoluted. Alongside those who question why certain platforms exist in the first place, there is debate around who they serve and how they should be paid for more […]
Understanding a pension can be difficult. For those who need help, a conversation with a real person makes a huge difference. We are working hard to make sure everyone can have that conversation with an expert, whether they need guidance or advice. The Single Financial Guidance Body, set to launch in the winter, will offer […]
Actively managed funds are the best way to obtain the holy grail that is dividend growth
After 18 months in the pipeline, we finally got a look under the bonnet of Vitality’s new investment proposition this morning. In both accumulation and decumulation, the insurer is attempting to revolutionise the investment space by offering either bonuses or fee reductions for investing early, investing over a long period and, most importantly, for keeping […]
The six million people in defined benefit pension schemes who could be enticed by the high transfer values on offer are causing much consternation among parliamentarians, the regulator and financial advisers. The FCA has found a significant proportion of transfer advice to be unsuitable or questionable. Its latest consultation suggests big changes to the way […]
There are still some in financial planning that deny the advance of technology. Or, more to the point, that radical change will occur. Thankfully, they are a minority. It is easy to forget how far we have progressed. At the start of the millennium, the typical adviser’s workload centred on valuations for portfolios. Our first […]
It’s not easy to restructure a £110bn company. Old Mutual’s separation and rebrand has been two years in the making and has another two to go before the advice and platform businesses planners know so well fall under the new banner of Quilter. It’s not an accident that Old Mutual took the Quilter name – […]
The inevitable question for any Intelliflo customer this morning, after the news that the business has been acquired by Invesco is, what does this mean for me? It is almost exactly five years since Hg Capital invested in Intelliflo and the business has gone from strength to strength in that period. Private equity firms typically […]
It was naive to think advisers would focus efforts on the opportunities here. Instead, the robos have won This column is all about naivety. Mine, if you must know. It is also to do with an article I was recently commissioned to write for a consumer finance magazine. I will start with that part of […]
Will a fund manager parent be good for Intelliflo?
Three considerations for investors in the region It is no secret that China’s financial markets have gradually been opening up over the past decade. With the inclusion of domestic A-shares in MSCI’s emerging market indices this year, 2018 could potentially be a watershed year for the country’s growing influence on financial markets. For now, this […]
The government’s Office of Tax Simplification has set its sights on pensions, Isas and life assurance bonds
A detailed look at the how the Sipp market is evolving as legal and regulatory pressures mount
Newell Palmer director Peter Bannister on managing investments in-house
Advisers and clients are at risk of being caught out by illogical quirks in this complex product
Starting out on your own is challenging but these tips should help smooth the way
A look under the bonnet of themes within the index
The FCA has its eye on staff performance strategies, so make sure risks are recognised and managed
People still need to wake up to the dangers of relying on the state pension in retirement
The issue of how firms treat vulnerable clients is not a new area of focus for the FCA but the regulatory scrutiny shows no sign of abating, with concerns forming a common thread throughout its 2018/19 Business Plan. Many firms are still struggling to ensure that vulnerable clients are identified and supported throughout the customer […]
Save time and trouble by fixing these common compliance errors
A new report calls for the abolition of IHT, and comes just in time to catch the attention of the government’s review of the tax You may have seen reference in the press to the Intergenerational Commission report from the Resolution Foundation on options for inheritance tax reform. It is extensive, thoughtful and pulls no […]
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Levels of merger and acquisition (M&A) activity have historically moved with the stock market. Zach Chadwick, an analyst within the J.P. Morgan Asset Management UK equity team, looks at how this cycle has been no exception and discusses some common behavioural biases.
Amit Parmar looks at the recent surge in oil price and its impact on UK equity income investors.
Karen Ward discusses the Bank of England’s (BoE) decision to hold its base rate of interest unchanged at 0.5% at its meeting today.
Watch Andrew Robbens as he talks about how the high street has changed over the decades and gives his views on how adapting and changing will be the key to success for consumer businesses.
Money Marketing Editor, Justin Cash, and Helm Godfrey Chairman, Danby Bloch, sit down to discuss the outcomes of the recent local elections and the potential consequences for the UK economy.
Chris Skinner, portfolio specialist, takes a closer look at UK equity portfolios and finds that many funds have less exposure to UK companies than you may think.
Catch up with last week’s Money Marketing debate on what Labour would mean for financial planners with former pensions minister Steve Webb and three leading advisers.
FSCS levies are one of the biggest bills advisers have to pay. But how are they calculated? Watch our video to find out Advisers slam levy increases as FSCS bills hit desks Solving the FSCS’ long list of problems FSCS chief executive Mark Neale’s blog
FCA chief executive Andrew Bailey has just marked his first year at the top of the regulator. Money Marketing asks: Who is the man running the financial services show? Watch: Where do your FCA fees go?
Title: MM Wired: Beyond the election Date: Thursday 15th June Time: 11am Money Marketing Wired returned in association with The UK Edge on Thursday 15 June with a topical debate on the election results. To see the full on-demand version of this session, please watch the video above. Panelists Stephanie Flanders – Chief Market Strategist (UK […]
Helen O’Hagan, Technical Manager at Prudential, looks at some of the options to help fund the cost of going to university. An exciting time for children but not so much for their parents if they have not made financial provision to plan for this expense. And expensive it is! Not only the major items like […]
Thomas Smith, Co-Head of Emerging Market Equities, Neptune An interview with Reza Moghadam, who spent more than twenty years at the IMF, where he shares his views on Argentina’s negotiations with the IMF… https://www.realworldinvestors.com/Posts/Team-Talk/2407 Investment risksThe value of an investment and any income from it can fall as well as rise as a result of […]
Rob Burnett, Head of European Equities, Neptune Investors are asking themselves if the sovereign debt crisis has returned to Europe. The major question being, is Italy going to leave the euro? How can we assess these probabilities? The latest Eurobarometer data on Italian public opinion is useful, particularly when compared to the UK and […]
Ali Unwin, CTO & Fund Manager, Neptune Neptune’s Ali Unwin reports back from one of Amazon’s 16 UK fulfilment centres: 400,000 square feet of warehouse space, miles of conveyor belts and 1,500 full-time employees to keep it running 24 hours a day. https://www.realworldinvestors.com/Posts/Team-Talk/2403
Royal London Asset Management will be participating in a historic green infrastructure project that will add essential capacity to the capital’s sewers. In this article Gail Counihan, Responsible investment Analyst explains the project and introduces two key participants, Ursula and Millicient. Read the article here Past performance is no guide to the future. The value […]
In the latest comment from our ‘gilt corner’ Craig Inches, Head of Rates and Cash at Royal London Asset Management looks at risk returning to markets, with sovereign risk beginning to rear its head across the globe. He also examines the gilt market closer to home and comments on the issue of one of the […]
New Worldwide Financial Planning managing director on getting his feet under the table and keeping robos in their place
LEBC chief executive says advisers must change the way they let people interact with them It seems logical for businesses to consider widening access to their services if they want to grow. Some might explore a new region to broaden their reach geographically. For others, offering a range of services that cater for different customer […]
Putting the client first is a mantra for many advisers who take pride in providing quality service and value for money. For IFA firm Goldsmith Financial Solutions founder Hannah Goldsmith, this has meant refusing to play ball with investment groups that would charge her clients more in fees than the returns they would receive. “How much does it […]