Daniela Esnerova

EU regulator warns outcome-based regulation in UK could pose threat to EU

The European markets regulator has expressed concern UK finance companies could make use of loopholes between the UK and EU after Brexit, according to the Financial Times. Speaking at a conference in London, the European Securities and Markets Authority chair Steve Maijoor said this was one of the reasons Esma is seeking to directly supervise […]


Investment managers see opportunity and risk in May’s resignation

Theresa May’s announcement from earlier today that she will step down as prime minister on Friday 7 June brought a new direction to deadlocked British political scene. Yet figures from the investment management sector say her resignation does not spell the end of uncertainty, which has been holding back investment decisions. Hermes Investment Management chief […]


Six hundred advice firms adopt PFS DB transfer standard

More than 600 firms have signed up to the Personal Finance Society’s new standard aimed to improve defined benefit transfers since its launch last month. It consists of consumer guide for DB transfers that is meant to help consumers better understand what to expect from regulated financial advice. The guide defines an adviser code based […]

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Investment Association to include ETFs in sectors

Trade body the Investment Association will include exchange traded funds in its sectors. The ETFs will be placed within the existing IA sectors, which will enable comparison between open ended funds by dividing them into groups of similar funds based on factors such as asset class, investment strategy and geographical region. Investors and their advisers […]

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Industry needs to communicate value of advice more study says

The financial advice profession has to collaborate more to promote the value of advice as a study finds one third of people shy away from taking advice due to concerns about trust. The findings come from a detailed look at the nation’s wealth and debt in research commissioned by Open Money and conducted by the […]

Continuum partners with North West IFA

National advice firm Continuum has merged with Cumbria-based IFA Gary Charlesworth. Continuum director Martin Brown says Charlesworth joins as a partner: “We do not acquire businesses, no money has changed hands.” “Gary has become partner in our business and brought his clients with him. As a partner he has a stake in Continuum, should any […]


Terry Smith steps aside from Emerging Equities trust

Terry Smith will step down from the Fundsmith Emerging Equities trust after five years running the vehicle. He will carry on as chief investment officer and will offer “advice and support” to the fund’s analysts, Michael O’Brien, who will become trusts’ portfolio manager, and Sandip Patodia, who has been promoted to assistant portfolio manager. The […]

Where will the Quilter-Lighthouse tie-up take its advisers?

Questions still remain over branding, restrictions, location and focus, but deal could be a positive one for both companies The advice world has a new power-couple after shareholders in national firm Lighthouse agreed to a takeover by Quilter last week. Lighthouse shareholders gave their overwhelming blessing to a marriage between Quilter and the firm, with […]


Victims of investment scams lost £27m last year

Investment scam victims lost £27m in 2018/19, according to latest data from Action Fraud. Frauds involving cryptoassets and foreign exchange platforms tripled compared to the year before. An average victim lost £14,600 to this type of investment fraud. In the wake of the jump in those types of investment scams, the FCA has launched advertising […]

Novia sees 72.5% jump in profits

Wrap platform Novia saw its profits before jump by 72.5 per cent to £5.6m in 2018, on the back of increase in its assets under administration. Novia AUA increased by 5 per cent to £6.1bn. According to the company, the performance was dented by a significant market drop in the fourth quarter of 2018. Novia […]


FCA criticised for not investigating Lloyds’ treatment of a whistleblower

A whistleblower who wrote a report criticising Lloyds Bank’s handling of a scandal at HBOS has rebuked the FCA for not investigating, the Financial Times reports. Former Lloyds staffer Sally Masterton wrote to FCA chief executive Andrew Bailey last year, asking him to look into the conduct of Lloyds senior managers towards her. In 2014, […]