Charlotte Richards

FCA to open industry review on ACDs

The FCA has told several authorised corporate director companies to prepare for an industry probe, according to reports from the Financial Times. Reports say after the high-profile Neil Woodford fund suspension, the role of ACDs has been “laid bare” in the past 10 weeks. ACDs ensure open-ended funds stick to regulatory rules and protect their […]

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Invesco and Woodford top ‘dog’ fund list

Invesco and Woodford Investment Management have topped Bestinvest’s Spot the Dog list of underperforming funds. For the third time in a row, Invesco has been named “top dog” for both the number of funds and value of assets held in them. More than £11bn of assets spread over six funds are highlighted on the list […]

FCA asks James Hay parent to set aside £15m in tax dispute

The FCA has asked James Hay parent IFG Group for additional capital of £15m to address its ongoing tax dispute with HM Revenue and Customs. Following a supervisory review and evaluation process of capital adequacy at IFG, the regulator has required the group to increase its regulatory capital. It includes a requirement that IFG set […]

Woodford trust to consider new managers

The board of Neil Woodford’s Woodford Patient Capital Trust plc is monitoring and assessing all options in regards to management options, which could result in a new manager being appointed. According to a statement this morning, the board “intends to engage with a broader range of third-party managers in order to undertake a full assessment […]

VitalityInvest brings in 0% charges

VitalityInvest has unveiled the next stop in its proposition, allowing accessibility to discounted fees to its customers. From 22 July, all new clients to VitalityInvest will be given automatic access to its Healthy Living Programme, regardless of any qualifying criteria such as being a customer of Vitality health and life insurance policies. New customers could […]

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Hammond to step up no-deal Brexit warnings

Chancellor of the exchequer Philip Hammond has vowed to oppose a no-deal Brexit from the back benches, according to The Times. As well as a speech to civil servants last week, the chancellor also used his address at an all-staff Treasury meeting to tell his department they should not change their advice on the consequences […]

Ex-Coutts banker launches robo-advice offering

A former Coutts private banker has launched a digital wealth manager which aims to create bespoke investment solutions which combine artificial intelligence with top-tier human advice. Qiojia Li, who also formerly worked at Credit Suisse, met her co-founder, Gustavo Silva through Entrepreneur First, a talent investor which matches entrepreneurs to build their technology ideas from […]

Interactive Investor completes Alliance Trust Savings buyout

Interactive Investor has completed its acquisition of Alliance Trust Savings from Alliance Trust plc for £40m. The merger, which was announced in October last year, will see ATS operate under the ownership of II, now the second largest investment platform for retail investors in the UK after Hargreaves Lansdown. The acquisition means combined assets under […]

A third of women still without a pension

Fresh research into the gender pensions gap shows that 34 per cent of women claim not to have a pension plan, while the figure for men is just 17 per cent. Figures from Willis Owen states that of the women without a pension, 41 per cent have no intention of starting one, while the figure […]