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Revealed: Fidelity International director investigated over harassment claims

A former Fidelity International female employee is claiming compensation against the asset manager following an alleged case of harassment from senior management, Money Marketing can reveal. The employee, who we will name Mrs A, and who used to be based at one of Fidelity’s offices in India, was sent an employment termination letter on 14 March […]

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FCA reviews preference share market following Aviva backlash

The FCA is reviewing the market for preference shares following the furore over Aviva’s recent decision to cancel its high-yielding preference shares at par value. FCA chief executive Andrew Bailey says in a Dear CEO letter that the regulator is reviewing the prevailing market for certain fixed income shares, particularly those classed as perpetual, irredeemable […]

Justin Cash, Editor of Money Marketing
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Editor’s note: ‘Independence’ matters far more to advisers than clients

Five years on from the RDR, and the independent vs restricted debate still holds an exalted position in the market. Significant swathes remain fiercely evangelical in their belief that independence is a pipe dream, or that restricted is a recipe for disgraceful shoehorning. Many of these people are unmoved by the dearth of conclusive evidence […]

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More investors follow Royal London into Metro Bank rebellion

Investment adviser Glass Lewis has joined Royal London in opposing the re-election of Metro Bank chairman Vernon Hill. Metro Bank is in the midst of a shareholder rebellion following findings that £4.6m in fees for architectural, banking and marketing services were paid to architect InterArch, run by Hill’s wife, Shirley. Royal London Asset Management holds […]

Allianz launches ‘outperformance’ fee

Allianz Global Investors has launched a performance fee structure on five of its UK funds in response to the competition with passive providers and an increasing transparency clampdown. The ‘outperformance fee’ share class will charge a fixed fee of 20 basis points and a performance fee of 20 per cent that will apply only if the […]

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Berkeley Burke criticised over burial plot Sipp investments

Embattled Sipp provider Berkeley Burke has been criticised over inv­estments made into esoteric schemes such as burial plots. The provider is currently facing allegations it missold hundreds of Sipp investments. In February the High Court approved a group litigation order relating to claims against Berkeley Burke. The provider is also locked in a battle with […]