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Advisers say scrapping limit for poor advice does not address FSCS failures

Advisers say removing the £50,000 Financial Services Compensation Scheme limit for poor advice would not address the inherent failures in the scheme’s funding and the way it operates. Last week, FSCS chief executive Mark Neale wrote a blog arguing the £50,000 limit for negligent advice should be scrapped. There is currently no limit to compensation […]

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FSCS boss: Scrap limit on advice misselling payouts

The £50,000 compensation limit for negligent advice should be scrapped, according to Financial Services Compensation Scheme chief executive Mark Neale. In a blog this morning, Neale said that while instances of bad advice were “few and far between”, protection needed to be in line with retirement savings held in insurance products to give consumers more confidence […]

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AFH boss: ‘We are not a consolidator’

Nobody could accuse Alan Hudson of letting the grass grow under his feet. In the past 26 years, the chief executive of financial planning and wealth management firm AFH has been busy expanding the business he founded in 1990, both organically and through acquisitions. The firm was selectively buying small advice firms even before its […]

Chancellor to deliver first Autumn Statement on 23 November

Chancellor Philip Hammond has announced he will present his first Autumn Statement to Parliament on 23 November. In a bid to ensure the UK economy keeps on growing post-Brexit, it is expected housebuilding as well as public infrastructure projects will form the foundations of his plans. The statement will also include the latest economic forecasts […]

Unfinished business?

Pension specialist Fiona Tait gives an update on three big announcements from the 2016 Budget – Pensions Advice Allowance (PAA), the Lifetime ISA (LISA) and the pension dashboard. £500 Pensions Advice Allowance What’s new Under current rules it is possible to deduct an adviser charge from a defined contribution pension fund to pay for financial […]

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