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Apfa: Adviser profits up 5% as market stabilises

Advice firms saw an increase in pre-tax profits of 5 per cent last year as the market began to stabilise, according to Apfa’s latest state of the market report. The annual report shows that pre-tax profit for all firms with an FCA primary category ‘financial adviser’ was £931m last year, up from £884m in 2013. […]

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Regulatory costs force Norfolk advice firm to close

Regulatory costs have been blamed for the closure of a Norfolk IFA just days after advisers saw their FSCS levies almost double to £100m. In a statement on its website, Norwich-based advice firm Taylor & Taylor says regulatory changes have made continuing as a business unviable. It says: “We very much appreciate the support provided […]

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German finance minister dampens hopes of Greece bailout deal

Germany is pessimistic on the prospects of reaching a deal on Greece’s bailout in talks scheduled for next week, the FT reports. Germany’s finance minister has virtually ruled out a deal from the summit attended by eurogroup finance ministers, due to be held in Riga, Latvia on 24 April. “Nobody expects that there will be […]

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Asset Allocation: BlackRock’s Justin Christofel shifts to ‘less demanding’ European equities

BlackRock’s fund manager Justin Christofel is another believer in the European equities story but is cooler on UK and US stocks. In his co-managed £76.8m Global Multi-Asset Income Fund he has shifted marginally out of US equity exposure into European equities, where valuations are “less demanding”. “Equities are a bit more attractive in Europe than the US […]

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