Trade bodies urge trustees to hold investment consultants to account on ESG issues

The Association of Member Nominated Trustees and the UK Sustainable Investment Association have urged pension funds to keep an eye on whether their investment consultants’ sustainable investment advice lives up to the minimum service requirements under regulation. The AMNT and UKSIF says consultants should meet minimum requirements as soon as possible so as not to […]

Sesame pulls Pimfa and APCC membership in new regulatory engagement plan

Sesame Bankhall Group is set to introduce a programme of engagement activities to track adviser sentiment toward regulatory concerns, Money Marketing has learned, as it pulls out of its membership with adviser trade body Pimfa and the Association of Professional Compliance Consultants. The initiative will be launched in the new year and include face-to-face workshops, […]

Pension transfers see £8.6bn cashed out in Q3

The total value of pension transfers rose slightly from £8.2bn in the second quarter of the year to £8.6bn in the third quarter, the latest figures from the Office for National Statistics show. This is down from a high of £10.6bn in the first quarter, however, with experts predicting long-term decline as advisers exit the […]

Standard Life Aberdeen co-chiefs up stakes in company

The co-chief executives of Standard Life Aberdeen have bought additional shares in the company, stock exchange announcements show. Martin Gilbert purchased 50,000 shares in the company at 237.7p a share yesterday, while Keith Skeoch purchased 50,000 shares at 233.6p a share on Wednesday. This means the pair spent a combined £230,000 on the shares. Standard […]

US bank cuts pay rates for lowest-producing advisers

Advisers at US bank Wells Fargo will see their pay rate drop next year if they fail to meet revised revenue targets, according to Bloomberg. The news service reports that financial planners with more than seven years’ experience will need to generate 12-month revenue above $250,000 (£198,000) if they don’t wan’t to see their pay […]