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Friends Life to compensate for unsuitable DB transfer advice

The Financial Ombudsman Service has ruled against Friends Life for giving unsuitable advice on a pension transfer from a defined benefit scheme. In the ruling Mr S complains the advice he received from Friends Life to move pension benefits from his former employer’s final salary scheme to a personal pension arrangement was not suitable. In […]

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LGIM poaches from Jupiter for retail sales head

Legal & General Investment Management has hired James Crossley as UK retail sales head. Crossley joins the team from Jupiter, where he was overseeing the UK retail distribution and retail sales team. Crossley replaces Simon Hynes, who worked with Crossley at Jupiter. Hynes recently took on the role of EMEA retail distribution head at LGIM where he […]

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Tom Selby: We need to talk about life expectancy

The consequences of the European referendum result have been far-reaching and, in many ways, unquantifiable. We can make pretty well-educated guesses about the impact of the uncertainty created on economic growth based on declining business investment, for example, but we cannot know for sure where exactly the GDP line would have gone if the country […]

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Guidance body grows board as October launch looms

The Pensions Advisory Service chair Ann Harris and non-executive director of the Money Advice Service Mike Dailly have been appointed as non-executive directors of the new Single Financial Guidance Body. The body is expected to launch on 1 October with Harris and Dailly’s appointments to start immediately. The single body brings together MAS, Pension Wise […]

More firms back adviser recruitment initiative

FP Wealth Management and wealth manager LGT Vestra have been confirmed as part of “plug and play” advice training initiative, Future of Advice. Future of Advice was set up this year by Bournemouth-based IFA Kevin Forbes of Strategic Solutions in partnership with advice consultants Simplify Consulting and representatives of Bournemouth University. The programme offers student […]

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7IM drops gold and adopts general commodities strategy

Seven Investment Management has cut gold from most of its multi-asset portfolios as it moves towards general commodities. 7IM first started eliminating gold from its portfolios last November, when it was cut by 1 per cent across portfolios, and then again this February, with a further 2 per cent cut. Now, it has dropped gold from […]