Following the payment protection insurance misselling scandal, details of regulatory action on two further banking scandals emerged last week. Much more detail is still to emerge over both the Libor rate fixing and swap rate scandals but a common feature of all three scandals is another demonstration of why customers of the banks involved, the […]
Dear PAT, is my due diligence up to speed in light of FSA final guidance?
If you search ‘financial armageddon’ on the internet it is far from clear whether the beginning of the end of the financial world has already begun or if it is just around the corner. Delve deeper and you will be drawn into tales of failed fiat currencies and reminded of the alarming frequency of sovereign […]
With outcomes impossible to predict, are we powerless to tackle the economic crisis?
In periods of volatility, Standard Life UK Equity Unconstrained performs
Hefty pay packages are fine in principle but they must be earned
Connoisseurs of the genre will know that it is very, very hard to kill off a zombie. Decapitated, blasted with flame or toxic chemicals, the deformed, diseased creature picks itself up and stumbles on, even more terrifying in its latest more hideous manifestation. There is no resemblance between zombies and commission. Or is there? The […]
In this column last month, I discussed the legal and regulatory duties and obligations which arise for professional and independent advisers in general and for IFAs in particular. To recap – advice, in the context of professional advice, means the opinion or counsel of the professional person as to the appropriate course of action for […]
Setting out goals and how to achieve them is vital
A few weeks ago, I raised the point about the rules issued by HM Revenue & Customs on adviser-charging. While we were checking these rules, we asked several pointed questions about group personal pensions and employer-sponsored defined-contribution plans in respect of consultancy- charging. At this point, we still await a reply but let me fill […]
Money Marketing readers will have enjoyed some of the fiery language directed at the Money Advice Service in Parliament in the last fortnight. We were accused of being a “play-ground bully”, offering a “crap” web-site, charged with blowing £20m on TV advertising and overpaying staff. These are serious concerns which require serious responses, so let’s […]
Money Advice Service pair Gerard Lemos and Tony Hobman made the wise decision not to strongly contest most of the recent criticisms of the service when they appeared before MPs last week. Although they refuted any suggestion its website tools were “crap”, they acknowledged the MAS needed to significantly improve in many areas. MPs on […]