Regulator rejects argument that advisers do not need to prompt consumers to shop around
Regulator rejects argument that advisers do not need to prompt consumers to shop around
World Economic Forum calls for the lifetime allowance to be scrapped and faster pension age rises to tackle a potential £25trn savings gap
There is a lot of negativity about the value of advice – but two developments are giving Steve Bee hope
Jackie Boylan joins from the wealth management arm of Australian bank
Proposed code of conduct will cover the different approaches asset managers can use to charge investors for their use of external research
A rundown of the political parties’ stand on key financial issues, and the implications for advisers
Many cross-border managers distributing into Europe are covering their own funds’ operating expenses to keep client charges down as pressures in the industry mount, a new study reveals. Nearly 80 per cent of fund managers subsidise funds’ expenses, 19 per cent of the recorded subsidies also exceeds funds management fees, says a cross-border fund charges […]
Standard Life has hired Paul McGhee from a European trade body
The advisers will add nearly £30m in assets under management to Fairstone
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 […]
New data from regulator sheds light on most common charging models
In the wake of our cover story on acquisitions this week, the bosses of two major brands reveal how they pick and value their adviser targets
New platform has taken longer than expected but ATS promises full roll-out is imminent
Merger of asset managers behind underperforming fund results in change of leadership
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 […]
The acquisitions market has many pitfalls for both advisers and acquirers
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 […]
The advertising regulator has rebuffed a complaint by Lloyds Banking Group that an advert about protection insurance mis-selling was misleading. Lloyds Banking Group is the firm with the highest bill for PPI mis-selling, at around £17bn. In February Lloyds complained to the Advertising Standards Authority about a tweet from claims management company Assured Legal Services. […]
Fidelity’s Dominic Rossi is stepping down as global chief investment officer for equities to take on a new role within the business. Rossi, who has been CIO for the past seven years, will become a special adviser on public policy initiatives on a part-time basis from January 2018. The role will involve liaising with policy […]
Turnover in the advice sector increased 6.5 per cent in 2016 according to Apfa data. Revenue generated on regulated retail investment business by financial advisers rose from £2.75bn in 2015 to just over £3bn last year. An increase in fee income from £1.8bn to £2.2bn offset a £58m drop in net commission. Average revenue per […]
The FCA has won its battle to get compensation for the victims of an unregulated collective investment scheme. Eight men were convicted in 2015 after the regulator’s investigation into a landbanking fraud that cost 110 investors £4.3m. The group operated unauthorised investment schemes through three companies: Plott UK, European Property Investments and Stirling Alexander. The […]
The rise of the baby boomers and the increase in the value of assets means advice is looking like an even better business than funeral parlours
Towards the end of 2014, we faced a dilemma. A huge amount had changed in financial services since the business was formed in the mid-90s. During that time, we had changed a great deal too, evolving as any organisation must in order to survive. One big question we needed to answer was whether our brand […]
Proving value to the regulator means advisers will need to move to fixed fees and hourly rates
Platforms with an adviser focus care less about market share and more about volume and margin
When it comes to home ownership, from the moment you step onto the property ladder you are banking on the fact your home will go up in value, simply by virtue of you owning it. It is baked into the public’s consciousness that the price of their home will rise, despite peaks and troughs and […]
Writing ahead of Apfa members’ unanimous vote to back the merger with the WMA, Libertatem’s director general speaks out against the plans
Apfa insists its proposed merger with the Wealth Management Association will not shut out advisers
Will recent industry mergers deliver benefits to clients in the long-term?
News of the general election has been unsettling for advisers. Not so much due to the political uncertainty but more because it has interrupted scheduled legislation, leaving a number of issues in limbo. This highlights again just how often policymakers fail to understand the practical impact of their decisions. It also suggests how little they […]
The FCA needs to shake up the mortgage and insurance markets and put an end to the fiddling and underhand deals
I read Money Marketing news editor Justin Cash’s recent blog “Advisers should justify charges uniformity” with real interest. He is absolutely correct in that the regulator is keen to understand the pricing dynamics of both advisers and fund managers and whether there is real competition among them. I have written in this column before about my thoughts […]
US fiscal policies, Brexit, a weaker pound and rising inflation contribute to bond concerns
Report suggests one-size-fits-all approach cannot meet employees’ varying needs
A lot of financial planning firms are relatively small by way of number of employees. One of the challenges faced by a business owner is to ensure staff are supported to develop and improve. Having an individual training plan for each employee can be helpful in focusing on agreed technical learning, as well as skills […]
Small business owners could lose their IHT relief if they hold too much cash
Would a mixture of both exam and coursework be a better test of an adviser’s knowledge?
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In this edition of Behind the Headlines, Money Marketing editor Natalie Holt talks to Callum Abbot, fund manager in the UK equities team at JP Morgan Asset Management, about the impact of the UK election on markets and the investment opportunities presented by Brexit and President Trump. Abbot discusses his forecasts for sterling in the […]
Behind The Headlines: ‘How wealth managers are preparing for Brexit?’ – with John Barrass With Brexit edging closer, what are the changes experienced by wealth managers and how should they prepare for the uncertain future?
Behind The Headlines: What to expect from markets in 2017? with Stephanie Flanders Following the surprising political events of 2016, what can be expected from the markets’ behaviour in the New Year?
Jenny’s Story offers a look at how Royal London’s personal support service Helping Hand can provide a dedicated nurse during and after treatment.
Money Marketing takes a look at where your regulatory bills go after the FCA released its latest levies this week.
Ahead of the Budget tomorrow, Money Marketing editor Natalie Holt speaks to Helm Godfrey chairman and Platforum consultant Danby Bloch about the backdrop to Chancellor Philip Hammond’s first Budget speech. Bloch discusses the expectation around changes to National Insurance contributions and income tax, and the implications for the self-employed. He also gives his thoughts on […]
Title: The role of emotional support in advice Date: Tuesday November 29th Time: 9.30am Topics discussed: When is an adviser more than just an adviser? What is the role of the adviser and the provider in supporting a protection claim? What do we mean when we talk about value-added services? Have value-added services become more […]
Welcome to the latest update for The Brunner Investment Trust PLC from the Trust’s portfolio manager, Lucy Macdonald.
With bond yields and interest rates stubbornly low, sourcing income remains a challenge. Here, James Foster and Jacob de Tusch-Lec explain their view
Trevor Greetham, Head of Multi Asset In a marked contrast to the surge in risk sentiment that followed President Trump’s election in November, markets greeted Emmanuel Macron’s victory in the French presidential election with satisfaction and relief, rather than euphoria. After rallying strongly on opinion polls that accurately predicted the outcome, the euro held onto […]
Centrist Emmanuel Macron’s victory in the French election is a welcome, if unsurprising development for European markets. He gained nearly double the votes of Le Pen, with 66.1% compared to 33.9%. European investors can now put elevated fears over political uncertainty to rest in 2017. The German elections in September carry no real threat against […]
Les Cameron, Head of Technical, explores defined benefit pension transfers from a technical viewpoint, tackling the topics such as transfer values and transfer drivers.
By Amanda Docherty, senior marketing consultant Apart from career success, millions in the bank and, on appearance, coveted lifestyles, what else do Rio Ferdinand, Lady Gaga and Ellie Goulding all have in common? They’ve all demonstrated that the power of celebrity can sometimes have a more altruistic purpose than idle gossip. Recently we’ve seen respected […]
Rutherford Wilkinson’s boss on why he decided to stop doing DB transfers, and why he feels he’s been vindicated A year after chartered financial planner Rutherford Wilkinson stopped advising on defined benefit transfers, managing director Ian Wilkinson is convinced it was the right thing to do. He says: “We took the decision to withdraw from this […]
Living up to the name of his business, Candid Financial Advice director Justin Modray thinks most advisers charge too much for what they provide. It is a bugbear he speaks about regularly, provoking criticism from those who attribute rising advice costs to an increased workload post-RDR and pension freedoms. So what does he see as […]
New Model Business Academy managing director says we need a plan to replenish adviser numbers Falling adviser numbers are a real concern for New Model Business Academy managing director Tom Hegarty. If left unaddressed, he warns consumers will lose out. Fewer advisers mean fewer people will get advice; there will be a lack of competition […]