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LV= pensions head moves to Nest
Former LV= pensions head Ray Chinn has joined Government-backed auto-enrolment Nest. After 10 years at LV= Chinn left the firm in March. He has now joined Nest as head of retirement options. Chinn was also deputy chair of the ILAG Wealth Management Strategy Group until January this year, and was a product development manager at […]
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Advisers stand by Old Mutual amid replatforming U-turn
Nearly 90 per cent of advisers say they won’t shift platform despite provider backtracking on replatforming deal Advisers have said they are likely to stick with Old Mutual after the provider cut ties with its replatforming provider IFDS. Last week, Old Mutual announced it had cancelled the estimated £450m deal to update its current technology […]
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Candid’s Justin Modray: ‘Advisers have used RDR as an excuse to jack up fees’
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 […]
The employment cost of The Big Society
Those with long memories will remember that in the run up to the 2010 general election there was much talk from the Conservative Party around a rather nebulous beast – The Big Society.
Martin: Indiscriminate selling creating opportunities
By Mark Martin, Head of UK Equities, Neptune Investment Management The start of 2016 has been one of the most tumultuous periods in recent years for UK markets, with the FTSE 100 Index briefly entering bear market territory in the middle of January. Fuelled by a collapse in the oil price and escalating concerns over […]
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RBS, Lloyds and Barclays among banks in $400bn Libor case
The Federal Deposit Insurance Corporation, a US government agency, has filed a lawsuit against some of the UK’s largest banks over manipulation of Libor, which it argues was skewed against the banks it had to rescue during the financial crisis. The agency has brought a claim against nine banks, including Barclays, Lloyds Banking Group and RBS, in […]
Ascentric pricing change drives boom in Sipp accounts
Royal London has defended moving its Ascentric platform to an “all-in” pricing structure earlier this year, saying the decision has paid off with a spike in Sipp accounts. In May, Ascentric moved to a single account charge, ditching trading fees and charges for Sipp and drawdown administration. However, portfolios under £1m are now charged at […]
Royal London drawdown sales spike as chief slams non-advised market
Drawdown and individual pension sales at Royal London rose by more than 60 per cent in the first half of 2017, but the provider has hit out at the non-advised market for failing to protect customers. In its results this morning, Royal London said that it had seen a particular boost to individual pensions and […]