Aifa has criticised the FSA's proposed menu saying it has become overly complex and is in danger of losing its key message in its response to CP04/3: Reforming Polarisation: a menu for being open with consumers. Aifa says an overly complex menu will not be read by consumers, also criticising it for having a disproportionate focus on cost, saying it should be about the value of advice.
Phil Wagstaff is stepping down from his role as M&G managing director (UK retail) as part of a wider restructure of the firm's sales and marketing operation. Wagstaff is understood to be taking a break after seven years at M&G and 20 years in the industry. Under the restructure, John Goddard will now head both […]
The controversial lifetime pension fund has been silently raised from £1.5m to nearly £2.5m after criticism that the new pension regime favours final salary over money purchase. The increase in the limit – by up to £1m depending on the circumstances of the individual – stems from the Inland Revenue responding to criticism that defined-contribution […]
Watching the market from a distance to understanding the dyn-amics better, it seems obvious that there should be improved cover for certain classes of business. If we look at the current market, it is important to understand what the drivers are. Premiums are on the increase and cover is becoming scarcer and in many cases […]
Friends Provident has established the stewardship safeguard optimiser fund, a unit-linked ethical fund that offers some protection to investors in Friends Provident's investment portfolio bond. The fund is aimed at cautious investors with ethical investment principles. The aim of the fund is provide smoothed investment returns similar to with-profits by investing in an ethical portfolio […]
Vincent Chailley, CIO of H2O Asset Management, discusses the key investment factors in 2016, including volatility, the disconnection between central banks and its implications on markets, as well as opportunities that may exist for investors.
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]