Small IFAs are under fire from the FSA for lagging behind in completing phase two pension review cases. It says good progress has been made but, with just under a year to the deadline, some smaller firms are slipping behind. The FSA's quarterly update shows two-thirds of consumers have had their cases completed and £3.3bn in redress has been paid.
Last week I started to look at the Sandler consultative document which I suggested could and will revolutionise the way in which financial advisers give investment advice to clients and are remunerated for that advice. Although, on the face of it, this document is at this stage only for consultation purposes, there seems little doubt […]
ABN Amro is set to introduce a North American fund in the last quarter of the year. The fund will be managed by US fund manager Montag Caldwell, which the Dutch bank acquired this year. Credit Suisse Asset Management launches a new multi-manager Pep transfer and Isa offering today. Investors can choose any of CSAM's […]
HSBC is to offer a new global fund of hedge funds to the retail market from next month through its international banking division, HSBC Republic. The HSBC global absolute fund will be a closed-end Guernsey-incorporated fund listed on the London Stock Exchange and targeted at IFAs and their clients. Shares are available in either dollars […]
Henderson Private Capital, the private equity arm of Henderson Global Investors, has invested £12m in Mega Radio Holdings of Germany. The investment is the fourth made by Henderson's European fund, Henderson European Partners 1, and the first made by the fund in Germany. Mega Radio will operate the first national commercial radio network in Germany. […]
Just a quick post to alert our followers to the fact that the new Fit for Work service is – according to the rollout map – now available in all geographical areas of England and Wales.
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Phoenix Group, Alliance Trust Group, Zurich, and Old Mutual Wealth are amongst the most complained providers in the latest FCA complaints data. A total of 3.76m complaints were received by the FCA during the second half of 2017, up 13 per cent on the first half of the year. Alliance Trust Savings is the most […]
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 […]
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 […]