Stephanie Hawthorne

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Risk labels ‘meaningless’ to ordinary investors

Risk labels have become meaningless and may mislead the ordinary investor, according to digital wealth manager Scalable Capital. One in five British investors do not know the potential level of loss that they could experience in a “cautious”, “balanced” or “aggressive” portfolio, and fund values can often fall a lot more than they expect. 71 per […]

ABI pushes for legislation on dashboard data-sharing

The report calls for state pension information to be made available on a pension dashboard from day one The Association of British Insurers has called for legislation to ensure pension providers and schemes make their data available for pensions dashboards. A report published today by the pensions dashboard project group, which is managed by the ABI […]

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Govt ‘alive’ to Brexit risk for expat pensions

The Government has said it ‘alive’ to the risks Brexit could pose to expat pensions after starting talks with the industry over safeguards. The chair of the influential Treasury select committee Nicky Morgan wrote to Chancellor Philip Hammond last month sounding a warning over the future of long-term pensions and insurance policies that are currently sold by UK companies […]

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Hargreaves Lansdown unaffected by Brexit as revenues jump

Hargreaves Lansdown benefited from a number of transfers due to “operational issues” at a competitor Brexit concerns have not affected Hargreaves Lansdown’s performance with assets under administration reaching £82bn in the three months to 30 September, up 4 per cent since the previous quarter. The arrival of Vanguard’s UK retail platform in May also did […]

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Scottish Widows signs new protection underwriting deal

Scottish Widows is the latest protection provider to offer partially underwritten quotes through The Exchange, Iress’ online comparison quote and transaction portal. Products available through Scottish Widows Protect, the company’s intermediary protection proposition, will be added to the portal. Providers on Iress’ enhanced underwriting service now include Scottish Widows Protect, AIG Life, Aegon, Aviva and […]

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Selectapension set to restart DB transfers next year

Major defined benefit transfer provider Selectapension Bureau Services has said it should be able to resume business for new clients early next year after being caught up in the regulator’s review of the market. SBS suspended its DB pension transfer business in June after the FCA audited of its outsourced advice firm CFPML. SBS can […]

DB transfer values drop 4 per cent in September

Xafinity attributes the drop in DB transfer values to an increase in gilt yields Average transfer values dropped over September, falling by 4 per cent from £240,000 at the start of the month to £230,000 by the end of the month. According to the Xafinity Transfer Value Index, the difference between maximum and minimum readings […]

TPR intervenes in 281 suspected scams since 2012

The year with the most interventions for suspected scams was 2013/14 when TPR used its powers 87 times  The Pensions Regulator has used its enforcement powers in 281 cases of suspected scams since 2012, according to data published on its website. The Freedom of Information Act request shows TPR has used its powers in 16 […]

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Vanguard platform scoops £250m in first five months

US fund giant Vanguard has attracted more than £253m from investors since launching its platform in the UK in May. The direct-to-consumer offering was set at a minimum monthly contribution of £100 and/or a £500 lump sum, with fees at 0.15 per cent before fund charges. Account fees are waived above the first £250,000 invested, […]

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Suffolk Life defeats client complaint only IFA could understand Sipp deal

A Suffolk Life client has lost his claim that he needed adviser-level knowledge to understand the firm’s Sipp deal after it acquired a collapsed discretionary fund manager. A client complained to the Pensions Ombudsman that he had to undertake 10 hours of “financial adviser type work” to understand how Suffolk Life was working with European Pensions Management Limited after […]

DB transfer suspensions: Where are they now?

After a raft of firms have been forced to suspend defined benefit transfer business, advisers are still little clearer over when services will resume. Demand for DB transfers is still running high, but finding enough support for the workload has become problematic with a number of firms either having permissions suspended or voluntarily agreeing to […]