Latest

5

Tim Sargisson: Why the tables are turning for small advice firms

Back in May, I wrote about the pressures building in advice firms due to a shortage of highly skilled staff and the consequent costs in recruiting. With Apfa research finding profits from retail investment advice fell 16 per cent between 2014 and 2016, I thought businesses faced a worrying future. But last month’s FCA Data […]

Trustee brought in to oversee defunct pension firm’s schemes

The Pensions Regulator has appointed an independent trustee for the 15 schemes linked to the now shuttered Fast Pensions. Fast Pensions and five connected companies were wound up at the High Court in May. According to an Insolvency Service statement, it is estimated around 520 people were persuaded to transfer a total of at least […]

Why selling to a consolidator can be anything but smooth sailing

There are increasing hurdles to consider for advisers making the move to sell their business and trade under a new parent. Recent figures from Nucleus show advisers are shunning the idea of selling to consolidators, thanks to increasing examples of the process going wrong. Figures from a survey of around 200 advisers by the platform […]

Justin Cash, Editor of Money Marketing
1

Editor’s note: British Steel shows the menace of unregulated introducers

Last week, the great and the good of the advice profession gathered in Port Talbot. An industrial town in deepest South Wales may seem an unlikely location for a high-profile conference, until you fully grasp the magnitude of what has happened there over the past 12 months and its impact on the planning profession. While […]

Schroders moves away from dual pricing

Schroders is to change the pricing structure on several of its Schroder Unit Trust funds, moving away from dual pricing. The firm will make the change from 17 September, when pricing will be based on a single mid-market price. UK Intermediary co-head James Rainbow says: “Switching to single pricing will provide greater simplicity for investors. […]

Firms loses complaint over fine for late regulatory return

A firm has had its complaint rejected after being billed by the FCA for a late regulatory return. The firm, which is kepy anonymous in its complaint, went to the Complaints Commissioner after being invoiced £250 by the FCA for a late submission of part of its return, despite claiming that it had made all […]

3

FCA: We must prepare for ‘no-deal’ Brexit

The FCA has said it is continuing to make contingency plans for all Brexit scenarios, including “no-deal”, as negotiations continue. The government’s latest white paper on Brexit proposed an “equivalance of rules on an outcomes basis” regime for financial services allowing the UK and EU access to each others markets. In a speech by FCA […]

1

FOS training should be top of reform list, reviewer says

Staff training and management capability must be front and centre in a full cultural reform of the Financial Services Ombudsman, says former Which? chief executive Richard Lloyd. MPs on the Treasury Select Committee met to discuss Lloyd’s independent review into the FOS yesterday. The review was carried out after a Channel 4 documentary in March […]