New Treasury economic secretary Ed Balls told the Treasury select committee this week he is unsure about the future of basic advice and that changes are needed to ensure better balance between simplicity and regulation.
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AIG set for move into bulk annuities
US firm AIG is understood to be entering into the bulk annuity market in the UK. The firm will be launching with the technical support of outsourcing firm Higham Group. AIG has been linked with the possible acquisition of Prudential, one of the biggest suppliers of bulk annuities in the UK.
Speculation surrounds Synaptic
Adviser software provider Synaptic denies it is up for sale despite industry speculation the firm has put itself on the market. Synaptic chief executive Selwyn Herring, who owns 10 per cent, says approaches have been made but he is not willing to sell although he cannot vouch for the intentions of venture capital firm New […]
Leaked letter reveals DWP pressure to retain RU64
The Department for Work and Pensions is pressurising the FSA to retain the RU64 rules ahead of this week’s White Paper which will set up the national pension savings scheme. The FSA was expected to abolish RU64, brought in to accompany stakeholder pensions, at a board meeting this week. In a letter to Work and […]
Gartmore MBO announcement imminent
Gartmore is likely to announce the terms of the private equity-backed management buy out of the investment house “either later today or early tomorrow morning” according to a company spokesman.US group Hellman & Friedman are currently finalising the legal details of the agreement which will be expected to lock in a number of the company’s […]
Europe: what if the cost of capital starts to rise?
Since 2007, the sharp drop in interest rates has lifted the valuations of all assets, with the longest duration assets gaining the most. The UK’s decision to leave the European Union has caused another flight to “safety”, with a series of record lows in bond yields and record highs in bond prices. With the German […]
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FCA survives complaints over Gabriel guidance
Two separate complaints about the clarity of the FCA’s guidance and expectations on Gabriel reporting requirements have been quashed by the Complaints Commissioner. However, the FCA has been asked to waive a late return charge and been asked to make sure debt collection and fees processes on Gabriel reporting are clear. In his report today, […]
The growing influence of research agencies on advisers
Their power over fund selection is only set to increase as more firms adopt centralised investment propositions Fund research and rating agencies have enjoyed a buoyant market in advice firms thanks to the post-RDR rise of centralised investment propositions. While a minority of advisers have chosen to outsource portfolio management, the majority are selecting funds […]
Lisa Webster: Transfer troubles with ill-health early pensions
Clients that suffer ill health at a young age can access their pension if certain requirements are met With the recent news that we are not living longer after all, there are questions to be asked as to why this is. Life expectancy increases the older you get, as the fact you made it that […]
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