Hope William-Smith

Hope is a Senior Reporter with Money Marketing. She joined the title from FE’s Money Management in Australia, where she was Features Editor. Hope can be contacted at hope.williamsmith@centaurmedia.com or on 0207 970 4688

FCA fines investment consultant over Vanguard conflict

An investment consultant has been banned and fined £20,000 by the FCA for failing to declare conflicts of interest. As a non-executive director at two mutual societies, Angela Burns was asked for guidance on investment management services, and participated in conversations about Vanguard, which had just opened UK offices. She simultaneously solicited work from Vanguard […]

Sesame pulls Pimfa and APCC membership in new regulatory engagement plan

Sesame Bankhall Group is set to introduce a programme of engagement activities to track adviser sentiment toward regulatory concerns, Money Marketing has learned, as it pulls out of its membership with adviser trade body Pimfa and the Association of Professional Compliance Consultants. The initiative will be launched in the new year and include face-to-face workshops, […]

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All Transact staff to become shareholders after IPO success

All staff at platform Transact will receive shares in its parent company IntegraFin following the success of its March flotation on the London Stock Exchange. In full year results released today, IntegraFin chief executive Ian Taylor says all company staff will be made shareholders. He says: “By virtue of the flotation, we are now in […]

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Robo sustainability a concern for advice gap, LEBC says

National advice firm LEBC says robo-advice solutions lack to ability to provide strategic advice and will not fix the widening advice gap alone. Speaking to Money Marketing, LEBC director of public policy Kay Ingram says robo solutions are still lacking sustainability. A bionic approach that combines the technological benefits of robo with face-to-face advice could […]

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Disputed £3.5m adviser tax error unearthed by SJP goes to trial

Two pension trustees who launched legal proceedings against the advice firm formerly called Truestone Wealth Management have been granted a court date in early 2020. According to Law360 UK, two acting trustees of London-based directors’ retirement and death benefit scheme Radley Yeldar claim a mistake made by an adviser at Truestone has cost them £3.5m. Truestone […]

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TPR to probe accountant in inaugural fraud prosecution

The Pensions Regulator has launched its first fraud prosecution over a Preston-based accountant suspected of stealing money from client pension funds. Accountant Roger Bessent is accused of transferring over £200,000 into his personal account and accounts of companies he controlled. Some pension scheme funds were also transferred from the Focusplay Retirement Benefit Scheme, a sponsoring […]

‘Cooling off’ period after freedoms still vital, says LEBC

National advice firm LEBC has renewed its call for a month-long ‘cooling off’ period for retirees seeking to access their pensions without financial advice. The firm first expressed concerns that consumers may not fully recognise the need for sustainable income management in January. Speaking in London today, LEBC director of public policy Kay Ingram says there […]

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How to build an advice firm from scratch

The keys to success when building a new business Apple co-founder Steve Jobs once said his model for a successful business was The Beatles: four parts that balanced each other so the total was greater than the sum of the parts. In the financial advice world, most agree there is no such thing as the […]

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BT appeal to change DB scheme to cheaper index fails

BT has lost a court appeal over plans to change the basis on which it calculates pension rises which would have lost money for 80,000 members in its defined benefit scheme. The telecommunications company was looking to overturn a January ruling on the interpretation of scheme rules. BT had sought a ruling on changing from […]

SimplyBiz denies cut to member services

Support services provider SimplyBiz will continue to provide its member advisers access to popular risk profiling tool Dynamic Planner next year. Advisers signed up to SimplyBiz can use the tool as part of the support service package. IFAs spoke to Money Marketing in September and October about talk of declining service from SimplyBiz and questions over the future […]