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Industry urges FCA clarity on pension transfer rules

The FCA needs to urgently clarify when new advice requirements on pension transfers will be applied, organisations across the pensions industry are warning. In its response to the regulator’s consultation on changes to pension transfer rules, the National Association of Pension Funds says conflicting definitions of money purchase benefits risk confusing when advice needs to […]

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Who’s in and who’s out: The high profile election losses

Shadow Chancellor Ed Balls and pensions minister Steve Webb are the most high profile financial services scalps to be claimed after a shock election night. Balls, who previously held a majority of just 1,101 in the constituency of Morley & Outwood, lost out to Conservative Andrea Jenkins by 422 votes. Webb lost to Conservative candidate […]

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BlackRock Q1 profit up 9% helped by ETFs inflows

BlackRock has reported a 9 per cent rise in net income in the first quarter of 2015 compared to the same period last year, helped by large inflows into its exchange-traded funds. Net income was £551m in the first quarter of 2015, up from £507m in the same period last year. The company saw $70.4bn […]

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Aegon UK managing director David Macmillan to exit

Aegon UK managing director David Macmillan is set to leave his role in the summer to join the firm’s US business, Money Marketing can reveal. Macmillan, who is also chief marketing officer at the provider, will join Transamerica later this year to become chief customer experience officer. An Aegon spokesman says: “David Macmillan has been promoted to […]

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