Former Morgan Grenfell Asset Management chief Robert Smith has been appointed chairman of the Alliance Trust board. Subject to regulatory approval, Smith will replace Alliance Trust director Karin Forseke who stepped down as chair of the investment trust’s board in November. Smith will take up the role from 1 February. Gregor Stewart will become deputy chairman of the […]
Nest is consulting on plans to allow members to take partial cash withdrawals from their pot as part of a raft of changes at the Government-backed pension scheme. The pension freedoms introduced a new ‘uncrystallised funds pension lump sum’ withdrawal option which allows savers to take chunks of money from their fund, including tax-free cash, […]
A new year has begun – but will it be a happy one for adviser businesses? The implementation of pension freedoms in 2015 was a big shake up which meant many more customers began looking for financial advice. The resulting ‘capacity crunch’ means that in 2016, firms need to continue segmenting those customers they really […]
Jupiter Fund Management secured £496m in new fund inflows in Q4 2015 but was held back by the loss of a segregated mandate worth £57m. In a trading update published today, the fund manager revealed cumulative net mutual fund flows of £2.1bn over 2015, driven by £549m of inflows in the last quarter. Assets under […]
Artemis managers James Foster, Mark Page and Laurent Millet comment on the Greek deal, describing it as “just another fudge” getting in the way of bigger developments in China, the UK and the US. To read the full article click here.
Former home secretary Amber Rudd is set to return to the cabinet as work and pensions secretary, according to reports. The appointment follows the departure of Esther McVey yesterday over her refusal to back the government’s draft Brexit deal. According to reports, Rudd, a remainer, was offered the job after environment secretary Michael Gove spent […]
The FCA has written to all former clients of Avacade Limited, an unregulated pension introducer, to inform them about its legal action against the firm and its directors. In November 2017 the FCA said it would start civil proceedings against Avacade Limited, now in liquidation, and its three directors Craig Lummis, Lee Lummis and Raymond […]
As new disclosure rules bring the full extent of protection commissions into the spotlight, experts are asking if this will see clients ditch their advisers in favour of execution-only services. Under the Insurance Distribution Directive, from 1 October advisers have had to provide clients with information before a product sale about any commission received, which […]