The FCA has rejected calls for a review to simplify documents at the point of sale, laying the responsibility on firms to set the way they communicate to clients. In response to a proposal from platform and Sipp provider AJ Bell to streamline client documents, the regulator agreed such documents can confuse customers, but won’t […]
Former Treasury select committee chair Andrew Tyrie has the backing of key city figures to become the FCA’s chairman next year, according to reports. Current FCA chair John Griffith-Jones announced in July he would be stepping aside next year when his five-year term comes to an end. A number of directors at asset managers, banks […]
Aegon looked to LV= for its appointment, while ATS hired a former regulator Aegon and Alliance Trust Savings have both appointed new chairmen to oversee the running of their boards. Aegon has appointed Mike Rogers, former chief executive of LV= as its new non-executive chairman. Rogers held this position at LV= for 10 years – […]
Running a successful IFA practice means ensuring your firm is run as efficiently as possible and making good use of technology can be a key part of this. Though expensive for us at the time, we invested in the Adviser Office back-office system many years ago. We reasoned that it would save us having to […]
They say politics is more determined by negative drivers than positive. Clown-like or otherwise, Donald Trump, Nigel Farage et al are anti-politicians who embody many of the characteristics that people feel are absent from their mainstream rivals. There has been a clear pendulum swing away from mainstream political institutions as wider disillusionment with the establishment […]
The right path to take comes down to personal choices involving timescales and units
Aviva Investors’s Giles Parkinson talks achieving diversification through mega-caps and why equity managers should lengthen their time horizons as the global sector booms
As the debate on the transparency of fund charges continues, many see the launch of The People’s Trust as another paradigm shift, or at least a significant tipping point. I found the prospectus of this investment trust equally patronising and disappointing. When the first round of fundraising was announced it seemed to be at an inadequate […]
I have been judging lots of awards lately and I have found many of the reports quite cumbersome to read. So, it got me thinking about the recent courses I’ve attended on report writing which might help improve the way you communicate with clients. Do you email clients their reports? Many clients may not register […]
Investment trust sales by advisers and wealth managers on adviser platforms hit a record high in the first half of 2017, up 74 per cent on the first half of 2016, the highest figure ever for the first six months of a year. In the first half of 2017 investment trust sales reached £514m, compared […]
The purpose of imposing responsibility on the principal is to make sure they are treated as if they had acted in breach of the rules, as well as the AR
IFAs point to financial and operational barriers to setting up robo-advice Just 3 per cent of advisers currently offer an automated advice service at their firm, but 14 per cent plan to in the next two years, according to research from JP Morgan Asset Management and Platforum. A survey of 162 advisers, conducted by Platforum […]
Many financial advisers are unaware of fund managers’ use of external research in making investment decisions, experts claim. Recent news about how asset managers have decided to pay for research under the upcoming Mifid II regulation has brought more clarity around how much people are paying for different parts of the investment chain. Under Mifid […]
Political uncertainty following the surge in popularity in the nationalist party in the German election could prove beneficial to the UK as the fourth round of Brexit negotiations begins. German Chancellor Angela Merkel has been re-elected for a fourth term following the federal elections on Sunday, but her conservative CDU/CSU parties saw their worst result […]
Labour also outlined its support for Waspi in its manifesto for the June election Labour is to call on the Government to lower the retirement age for women born in the 1950’s, allowing them to retire aged 64 on a reduced state pension, rather than aged 66. According to the Independent, in a speech at […]
How do you choose between active and passive? Is it art or is it science? Is it really one or the other? Many people approach this decision thinking the outcome is either one thing or the other. You either expect your manager will outperform or you don’t. You go 100% active. Or 100% passive. But […]
A new FCA committee has set the timeline for its fee template for asset managers as it publishes details of how it will go about its analysis. Money Marketing earlier this week the disclosure working group set up by the FCA following its final report into the asset management industry was about to set out the objectives […]
The Government has outlined plans for post Brexit financial services regulation in the UK to ultimately diverge from the European Union. Brexit secretary David Davis met with City leaders last week at Chevening, foreign secretary Boris Johnson’s country residence, the Financial Times reports. Davis told a breakout session for financial services that the UK would lose potential competitive gains […]
Digital wealth manager Moneyfarm is exploring opportunities to extend its advisory powers in an attempt to boost profitability. Speaking to Money Marketing, Moneyfarm chief investment officer Richard Flax says the firm is discussing ways to deliver more “scalable advice” with a mix of face-to-face advice and technology by getting full advice permissions. Flax says: “We […]
Chase de Vere has acquired specialist financial planning firm Medical Money Management. The firm, which advises medical and dental professionals, has eight offices ranging from Exeter to Glasgow. 30 IFAs will join Chase de Vere through the acquisition alongside another 50 staff. Chase de Vere did not disclose the cost of the deal. Medical Money […]
The regulator has said it “is minded to seek a financial penalty” against Capita Financial Management Capita has set aside £37m after the FCA indicated it could fine the company over its connection to the collapsed Connaught Income Series 1 fund. Capita Financial Managers was the operator of the fund until 2009. The fund went […]
People are opting out of final salary schemes over annual allowance and tax fears but the benefits of staying in are obvious
I caught up with some industry friends for a couple of drinks the other week. Nothing new there, those of you who know me might say. Over evening drinks the three of us, who are all engaged, compliant business principals, sat and chatted through the issues we are all currently facing. Recruiting and retaining quality […]
3 January 2018. Mark the date in your diaries if you haven’t already. It’s the day that the second Markets in Financial Instruments Directive takes effect in UK law. That’s only three months away. But it’s no reason at all to panic, as our cover story this week, which takes stock of how the sector […]
My first instincts about a Royal London-sponsored report were wrong. Now I urge everyone to read it
As our younger generations return to school, college and university, September is a time of the year when some of us older ones also consider going back to college; maybe to study a new course or add new skills to our toolkit; or go even further and completely retrain. With the UK heading for skills […]
Regulator has created a fiasco which is likely to lead to many complaints against it in years to come
The more clarity people have on what makes them fulfilled, the happier they will be. So what is the advisers’ role?
While autonomy and freedom of choice are critical to our wellbeing, there is a glitch: namely, our freedom to choose that which is not in the interest of our wellbeing. Hence the value in strong and clear advice. Back in the Garden of Eden, God pointed out the risks involved in investing in apples, given […]
In giving the financial services industry a monopoly over the word advice, the Government’s new guidance body spells trouble for consumers
How do you measure a client’s attitude to risk? Adviser technology companies have been coming up with increasingly sophisticated solutions to this problem at breakneck pace over the last few years as both computing and psychological knowledge has evolved. The answer to the question hasn’t changed though: it’s complicated. Because each client is an individual, […]
What would happen if you weren’t here next week? It is vital all business owners have a succession plan in place
The way advisers are dividing and servicing their client banks is changing, the latest research shows
Companies involved in micro giving, data security and screen sharing impressed the crowd at this month’s Finovate show in New York In the first part of my review of the recent Finovate show in New York, I focused on a couple of exceptional US businesses. But I was pleased to see some British businesses give […]
It is unlikely the US leaders will ever make it to the UK, which provides a perfect opportunity for digital advice firms here to lead the domestic competition Finovate is the place to go to see the leading edge developments in financial technology. Although there is an excellent European show in London in February, I […]
Wifi Map is a free app to help users find free wifi anywhere in the world. It shows the locations where free wifi is offered on a map, together with the password for the hotspot. It incorporates a speed test so the user can understand how fast the wifi hotspot connection will be. It can […]
Good technology underpins, rather than undermines, adviser propositions The FCA’s final report on its study of the asset management market, highlighting average margins of 36 per cent and questionable price competition, was the latest in a long line of official initiatives to shine a spotlight on the costs of financial products, services and advice. With […]
With just over three months left until the implementation of Mifid II, experts are cautiously optimistic that advisers will be ready for the incoming European regulation. However, concerns remain that there is a lack of clarity on several important rules. A survey this month by discretionary fund manager Smith & Williamson found 73 per cent […]
The advice sector is on the cusp of a major regulatory shift, set to change customer behaviour and market conditions. Firms need to focus on three core areas to ensure they remain competitive and effectively meet regulatory obligations, particularly as new conduct risks emerge. Culture Culture plays a key role in effectively adapting to future […]
There has been much talk about tailoring the regime to fit the diversity of firms who will be impacted. So, what does it look like?
Money Marketing has teamed up with Taxbriefs to bring you the definitive guide to the EU’s forthcoming General Data Protection Regulation and how it will affect your firm. Get your free briefing with everything you need to know and stay ahead of the game below. Regulation: Do Mifid II and the GDPR have conflicting aims?
There are opportunities to take advantage of a child’s personal allowances and capital gains tax annual exemption when investing for them
Manager Fraser Mackersie says flexibility and being more nimble than mammoth funds are among the key factors which have enabled the Unicorn UK Growth fund to outperform
Assets held on UK platforms represent over a quarter of the more than €2trn (£1.8trn) assets on-platform in Europe, according to Platforum data. The UK is the leading open architecture market for funds thanks to predominantly adviser-led distribution. In continental Europe, where distribution is bank-dominated, open architecture also picked up over the last few years. […]
Sentiment towards technology firms has not been this strong since the dot.com ere but the risks are significant
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Creating investment portfolios for clients is a key role for advisers. The choice between active and passive investment strategies is at the heart of this role. Ankul Daga, senior investment strategist at Vanguard, explains a framework for blending active and passive that can help you and your clients. Read more about the active/passive framework, as […]
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 […]
MM takes stock of the mega-merger set to shake-up the asset management industry
Looking to blend active and passive investment strategies? There are four key factors you need to know about, explains Ankul Daga, senior investment strategist with Vanguard Europe. Discussing the merits of active and passive investing with financial advisers, I am often surprised to discover how many are blending active and passive funds in their portfolios. […]
By Robin Geffen, Fund Manager & CEO, Neptune Equity income funds have a vital role to play in client portfolios today. With the awkward confluence of the baby boomers retiring as fixed income yields sit at historic lows, these funds have increasingly taken centre stage in delivering income for those who need to live off […]
The passive market has grown exponentially over the past decade and, in recent years, many investment columns have been devoted to the so-called ‘active versus passive’ debate
Craig Inches, Head of Short Rates and Cash at Royal London Asset Management, shares his thoughts on several recent trends in the bond market. He highlights how the BoE’s hawkish suggestions have sent gilt yields rocketing, comments on a surprise issuance from Austria, and reflects on the healthy pipeline of new issuance in the primary […]
Many parents value the standard of education offered by independent schools and will pay for that privilege. Planning for the fee payments can help. Even if the children do not go to an independent school, they could go to university. In this case, the children can end up with a huge outstanding student loan that […]
Advisers increasingly use DFMs as their investment partner. Cazenove Capital provides due diligence factors for advisers to consider when partnering with a DFM. Click here
Eastcote managing director Trevor Law on launching a new firm, rather than selling to consolidators
Future Life Wealth Management’s founder Jillian Thomas on surviving a tsunami and building a brand
What is the purpose of money? This is a question that highlights the distinction between financial planners and advisers, according to Paradigm Norton chief executive Barry Horner. Horner, whose business was voted Adviser Firm of the Year at the 2017 Money Marketing Awards, says there is no point in growing wealth just for the sake […]
