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.
The proposed FCA directory that will include advisers’ details could see more people finding “bad advisers”, according to adviser review site VouchedFor. A LinkedIn article by VouchedFor chief executive Adam Price says this is because the regulator’s consultation paper pitching the directory suggested little around underlying adviser checks being substantively improved. In the article, Price says: […]
A pension company that invested in storage products with investors’ savings has been ordered into liquidation by the High Court. Kent-based Chartwell Trustee Pension Solutions was the sole trustee of the Pinnacle Pension Scheme. Chartwell amassed in excess of £4.8m of members’ pension funds following an apparent cold-calling telesales operation. Members were told to expect 8 […]