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EU rejects govt’s Brexit financial services plan

Europe will lose decision-making autonomy and be worse off under the terms outlined in last week’s Brexit whitepaper from Theresa May’s government, says the EU’s chief negotiator. The UK government scrapped its plans for mutual recognition of regulation in the whitepaper. The whitepaper instead proposes an equivalence model, similar to that used by Singapore and the […]

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Consolidator buys London advice firm

Leeds-based consolidator Progeny Group has acquired Evolve Financial Planning and its offices in Croydon and London. Progeny surpasses £1bn in assets under management with the deal, which is part of its “acquire to hire” expansion strategy looking to expand in London and the South East. Progeny was formed in 2014 after wealth management firm Lawrence […]

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PI fears grow as historic DB transfer liabilities haunt market

Advisers are fearful restrictions in professional indemnity insurance cover are spreading in response to defined benefit transfer risks. Financial planners have told Money Marketing that insurers are continuing to take a sceptical view of any DB transfer business amid a slew of negative headlines around British Steel and other well-documented DB scheme failures. Some have […]

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]

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