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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 […]

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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 […]

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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 […]