3
ATS admits replatforming delay in ‘difficult’ upgrade
New platform has taken longer than expected but ATS promises full roll-out is imminent
Standard Life hires new Brexit chief
Standard Life has hired Paul McGhee from a European trade body
8
Innes Miller: Is the percentage charging era finally over?
Proving value to the regulator means advisers will need to move to fixed fees and hourly rates
Ascot Lloyd advisers exit for consolidator
The advisers will add nearly £30m in assets under management to Fairstone
UK GDP growth revised down
UK GDP growth for the first quarter has been revised down to 0.2 per cent compared to the 0.3 per cent reported in April. The fall was “mainly due to broad-based downward revisions within the services sector”, ONS said in its second estimate. In particular, consumer facing industries such as retail and accommodation fell and household spending slowed, partly […]
6
Commission provides a quarter of IFA revenue, FCA says
New data from regulator sheds light on most common charging models
Standard Life and Old Mutual reveal how they acquire advice firms
In the wake of our cover story on acquisitions this week, the bosses of two major brands reveal how they pick and value their adviser targets
Woodford-backed investment trust in merger after underperformance
Merger of asset managers behind underperforming fund results in change of leadership
Old Mutual split on track despite replatforming U-turn
Old Mutual has said the breakup of its business is progressing to plan despite issues with its replatforming project. Ahead of its annual general meeting today, Old Mutual said that it would look to complete the separation of its four businesses “at the earliest opportunity in 2018”, having successfully sold down its majority stake in […]
1
Are advisers getting fair value for selling up?
The acquisitions market has many pitfalls for both advisers and acquirers
3
Advisers split over DB transfer insistent client rules
Advisers are split on whether or not they should be allowed to transact against their own recommendations. The issue of so-called “insistent clients” has been thrust into the spotlight as the number of defined benefit pension transfer requests has increased since the pension freedoms. Under the Government’s rules, those with more than £30,000 in safeguarded benefits must […]
Lloyds rebuffed over PPI advert complaint
The advertising regulator has rebuffed a complaint by Lloyds Banking Group that an advert about protection insurance mis-selling was misleading. Lloyds Banking Group is the firm with the highest bill for PPI mis-selling, at around £17bn. In February Lloyds complained to the Advertising Standards Authority about a tweet from claims management company Assured Legal Services. […]
Fidelity global CIO for equities to step down
Fidelity’s Dominic Rossi is stepping down as global chief investment officer for equities to take on a new role within the business. Rossi, who has been CIO for the past seven years, will become a special adviser on public policy initiatives on a part-time basis from January 2018. The role will involve liaising with policy […]
1
Advice market turnover passes £3bn mark
Turnover in the advice sector increased 6.5 per cent in 2016 according to Apfa data. Revenue generated on regulated retail investment business by financial advisers rose from £2.75bn in 2015 to just over £3bn last year. An increase in fee income from £1.8bn to £2.2bn offset a £58m drop in net commission. Average revenue per […]
FCA to recoup over £2m from Ucis fraudsters
The FCA has won its battle to get compensation for the victims of an unregulated collective investment scheme. Eight men were convicted in 2015 after the regulator’s investigation into a landbanking fraud that cost 110 investors £4.3m. The group operated unauthorised investment schemes through three companies: Plott UK, European Property Investments and Stirling Alexander. The […]
9
Hargreaves questions Vanguard LifeStrategy performance
Discount broker claims low-cost D2C entry will not pose a threat
1
Ascot Lloyd closes in on sale
National IFA is understood to have been holding sales talks for months
Mark Carney duped by Barclays email prankster
Imposter has now caught out two senior banking executives in the space of two weeks
1
DB transfer numbers hit 80,000 in one year
FOI reveals extent of transfers out of defined benefit schemes over the last year
1
FCA advice head defends changing suitability review outcomes
Linda Woodall defends regulator after having to change suitability verdict on 35 files during review
1
Apfa members vote ‘unanimously’ for WMA merger
Merger now awaits approval from WMA members next week
2
Graham Bentley: The FCA is right to probe adviser platform relations
Platforms with an adviser focus care less about market share and more about volume and margin
Leader: To sell or not to sell?
When it comes to home ownership, from the moment you step onto the property ladder you are banking on the fact your home will go up in value, simply by virtue of you owning it. It is baked into the public’s consciousness that the price of their home will rise, despite peaks and troughs and […]
1
Apfa WMA merger won’t solve trade body funding shortage
Writing ahead of Apfa members’ unanimous vote to back the merger with the WMA, Libertatem’s director general speaks out against the plans
Apfa: Advisers won’t be left out in the cold after WMA merger
Apfa insists its proposed merger with the Wealth Management Association will not shut out advisers
Robert Reid: The battle to add value
Will recent industry mergers deliver benefits to clients in the long-term?
5
Ros Altmann: Advisers left in limbo by Govt’s mixed messages on pensions
News of the general election has been unsettling for advisers. Not so much due to the political uncertainty but more because it has interrupted scheduled legislation, leaving a number of issues in limbo. This highlights again just how often policymakers fail to understand the practical impact of their decisions. It also suggests how little they […]
4
Phil Young: Dodgy deals in mortgages and protection
The FCA needs to shake up the mortgage and insurance markets and put an end to the fiddling and underhand deals
28
Bamford: The FCA’s new logo is value for money
Towards the end of 2014, we faced a dilemma. A huge amount had changed in financial services since the business was formed in the mid-90s. During that time, we had changed a great deal too, evolving as any organisation must in order to survive. One big question we needed to answer was whether our brand […]
Lee Robertson: Advice charges aren’t a black and white issue
I read Money Marketing news editor Justin Cash’s recent blog “Advisers should justify charges uniformity” with real interest. He is absolutely correct in that the regulator is keen to understand the pricing dynamics of both advisers and fund managers and whether there is real competition among them. I have written in this column before about my thoughts […]
4
Blog: The FCA’s PI problem is in the numbers
Why can’t the regulator use its own statistics to fix the market? It may be a distant memory given how fast the market is moving at the moment, but the FCA is still in the middle of a pretty significant review of how the Financial Services Compensation Scheme is funded. The way the professional indemnity […]
13
Nic Cicutti: The better way to respond to charges criticism
A long time ago, shortly after starting out on a national newspaper, I needed new angles from an adviser on a story I was writing. My boss suggested calling Justin Modray, then an adviser at Chase de Vere. I rang him and, true to form, he provided a mass of useful information for my article. I […]
How to build a training plan for advisers
A lot of financial planning firms are relatively small by way of number of employees. One of the challenges faced by a business owner is to ensure staff are supported to develop and improve. Having an individual training plan for each employee can be helpful in focusing on agreed technical learning, as well as skills […]
Tony Wickenden: Can too much cash land SME owners in IHT trouble?
Small business owners could lose their IHT relief if they hold too much cash
4
Are adviser qualifications fit for the ‘real world’?
Would a mixture of both exam and coursework be a better test of an adviser’s knowledge?
Rachael Griffin: Planning around the cost of care crisis
Increasing life expectancy and the rising cost of care means timing is vital when it comes to organising funding
FCA equity release qualification decision divides market
FCA made decision following ‘mixed feeback’ from the market
The Big Interview: Standard Life’s David Tiller on why platforms are misunderstood
Standard Life head of adviser propositions and strategy on the increasing conflict of a one-size-fits-all approach to platforms and the emergence of a new model wealth manager
What next for markets if the Conservatives win?
To say the announcement of a general election was a surprise would be an understatement. Downing Street had categorically ruled out an early vote and Prime Minister Theresa May insisted she was getting on with the job. The EU referendum might have been a disaster for David Cameron but it was a triumph for Theresa’s […]
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Behind the Headlines: Callum Abbot on the UK election and what next for the Trump bump
In this edition of Behind the Headlines, Money Marketing editor Natalie Holt talks to Callum Abbot, fund manager in the UK equities team at JP Morgan Asset Management, about the impact of the UK election on markets and the investment opportunities presented by Brexit and President Trump. Abbot discusses his forecasts for sterling in the […]
Behind The Headlines: ‘How wealth managers are preparing for Brexit?’ – with John Barrass
Behind The Headlines: ‘How wealth managers are preparing for Brexit?’ – with John Barrass With Brexit edging closer, what are the changes experienced by wealth managers and how should they prepare for the uncertain future?
Behind The Headlines: What to expect from markets in 2017? with Stephanie Flanders
Behind The Headlines: What to expect from markets in 2017? with Stephanie Flanders Following the surprising political events of 2016, what can be expected from the markets’ behaviour in the New Year?
Helping Hand – Jenny’s Story
Jenny’s Story offers a look at how Royal London’s personal support service Helping Hand can provide a dedicated nurse during and after treatment.
5
Watch: Where do your FCA fees go?
Money Marketing takes a look at where your regulatory bills go after the FCA released its latest levies this week.
Watch: Danby Bloch on what advisers should expect from the Budget
Ahead of the Budget tomorrow, Money Marketing editor Natalie Holt speaks to Helm Godfrey chairman and Platforum consultant Danby Bloch about the backdrop to Chancellor Philip Hammond’s first Budget speech. Bloch discusses the expectation around changes to National Insurance contributions and income tax, and the implications for the self-employed. He also gives his thoughts on […]
MM Wired: The role of emotional support in advice – On demand
Title: The role of emotional support in advice Date: Tuesday November 29th Time: 9.30am Topics discussed: When is an adviser more than just an adviser? What is the role of the adviser and the provider in supporting a protection claim? What do we mean when we talk about value-added services? Have value-added services become more […]
Sourcing income from equities and bonds…
With bond yields and interest rates stubbornly low, sourcing income remains a challenge. Here, James Foster and Jacob de Tusch-Lec explain their view
The Investment Clock: Keep calm and Macron!
Trevor Greetham, Head of Multi Asset In a marked contrast to the surge in risk sentiment that followed President Trump’s election in November, markets greeted Emmanuel Macron’s victory in the French presidential election with satisfaction and relief, rather than euphoria. After rallying strongly on opinion polls that accurately predicted the outcome, the euro held onto […]
Is volatility dead? No, sell credit
There are several arguments that one could currently make for why credit markets look unattractive. These include signals that the US economy is in late cycle, the fact that corporate leverage has been increasing (with 2016 setting a record for the amount of global bond issuance), and that US high-yield default rates have risen considerably […]
Macron victory: What does it mean for European equities?
Centrist Emmanuel Macron’s victory in the French election is a welcome, if unsurprising development for European markets. He gained nearly double the votes of Le Pen, with 66.1% compared to 33.9%. European investors can now put elevated fears over political uncertainty to rest in 2017. The German elections in September carry no real threat against […]
Would you take a tennis racquet fishing?
Les Cameron, Head of Technical, explores defined benefit pension transfers from a technical viewpoint, tackling the topics such as transfer values and transfer drivers.
Mental health in the mainstream
By Amanda Docherty, senior marketing consultant Apart from career success, millions in the bank and, on appearance, coveted lifestyles, what else do Rio Ferdinand, Lady Gaga and Ellie Goulding all have in common? They’ve all demonstrated that the power of celebrity can sometimes have a more altruistic purpose than idle gossip. Recently we’ve seen respected […]
Profile: Ian Wilkinson on the perils of pension transfer advice
Rutherford Wilkinson’s boss on why he decided to stop doing DB transfers, and why he feels he’s been vindicated A year after chartered financial planner Rutherford Wilkinson stopped advising on defined benefit transfers, managing director Ian Wilkinson is convinced it was the right thing to do. He says: “We took the decision to withdraw from this […]
22
Candid’s Justin Modray: ‘Advisers have used RDR as an excuse to jack up fees’
Living up to the name of his business, Candid Financial Advice director Justin Modray thinks most advisers charge too much for what they provide. It is a bugbear he speaks about regularly, provoking criticism from those who attribute rising advice costs to an increased workload post-RDR and pension freedoms. So what does he see as […]
1
Profile: NMBA’s Tom Hegarty on how to attract 10,000 adviser recruits
New Model Business Academy managing director says we need a plan to replenish adviser numbers Falling adviser numbers are a real concern for New Model Business Academy managing director Tom Hegarty. If left unaddressed, he warns consumers will lose out. Fewer advisers mean fewer people will get advice; there will be a lack of competition […]
