John Scott & Partners chief executive Toby Strauss has quit to pursue other opportunities, although he will still have a part-time advisory role with the IFA.Chairman Andrew Fisher will take over, becoming executive chairman, and says he hopes he can continue the growth that Strauss created. The firm came to a collective decision that Fisher was best placed to take on the position and will lead the company to achieve its continued growth ambitions. Strauss is working on other opportunities in financial services and other sectors but remains committed to JS&P as a business. He will remain a shareholder and has no plans to set up a rival firm. Fisher became chairman in November 2004, previously being chief executive at Cox Insurance Holdings. Following his arrival, it was decided that Fisher would lead JS&P through its next growth phase, freeing up Strauss to pursue other interests. Strauss says: “I was keen to pursue some other opport-unities I am working on, probably within financial services, while maintaining an interest in the ongoing suc- cess of John Scott & Partners. I will remain a shareholder and will still be actively involved with the business and will not be setting up a competitor IFA.”
US growth will suffer in the immediate wake of Hurricane Katrina but is likely to benefit by the end of the year from rebuilding efforts. Oil prices surged to over $70 a barrel after 10 oil refineries on the Gulf of Mexico coast, representing 10 per cent of the US’s refining capacity, were shut down, […]
Retrospective misselling com- pensation campaigns are “festering sores” that blight the industry, says Alpha to Omega network chief executive Stewart Wooles. He is calling for a clear and legal definition of misselling, saying the FSA’s treating customers fairly policy can result in advisers being treated unfairly, particularly with retrospective regulation changes. Wooles believes that enc- […]
Former Deutsche Asset Managment European chief executive Paul Manduca is to join the board of supermaket chain Wm Morrison as a non-executive director. Manduca, who ran Rothschild Asset Management and built up Threadneede, is viewed as a potential succesor to the supermarket’s chairman Ken Morrison.
The FSA’s move to rein in misleading promotions by protection providers has been slammed as “woefully inadequate” by consumer group Which?. The FSA says it has uncovered evidence of scaremongering in product literature. However, Which? says the regulator should impose severe penalties on guilty providers rather than just writing to warn them. A recent FSA […]
One of the areas that will be high on the new minister for pensions’ to-do list will be the forthcoming review of automatic enrolment (AE). The outgoing minister had regularly said that AE contribution levels would need to be revisited early in this parliamentary term, and new research by Jelf Employee Benefits reveals employer support for such proposals.
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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 […]
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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 […]