Go-to guys: How to carve a niche for your advice firm
Specialise wisely is the advice for firms wanting to secure profitable clients
Buffett cuts stake in scandal-hit Wells Fargo
Berkshire Hathaway has reduced its stake in scandal-hit Wells Fargo ahead of the US bank’s results due Thursday morning. But Warren Buffett says not to read too much into the transaction, which has been prompted by increased scrutiny from regulators, the Financial Times reports. Following share buybacks last year, Berkshire’s stake in the bank, which […]
Hargreaves Lansdown to boost adviser ranks
Hargreaves Lansdown is looking to boost its adviser numbers amid frustrations that only a few “good-quality” professionals are available to hire. Hargreaves chartered financial planner Danny Cox says the complexity around pension tax allowances, pension freedoms and changes to inheritance tax planning is driving the firm towards a hiring spree. Money Marketing understands the Bristol-based […]
LV= pours cold water on merger plans
LV= has poured cold water on reports than it is seeking a merger with another provider. Reports suggested last month that LV= had held talks with Royal London about a potential deal, but talks ended when the pair could not agree terms. It was also suggested the LV=’s general insurance business had received a number […]
Retirement Advantage chief steps aside amid raft of board changes
Retirement Advantage group chief executive Chris Evans is to step aside at the start of May Evans will make way for chief operating officer Craig Fazzini-Jones after nearly 10 years at the head of provider, but will retain non-executive roles within the group. Retirement Advantage chairman William Proby said Evans’ leadership had helped the firm […]
Standard Chartered to hike minimum wealth required for private banking clients
Standard Chartered is looking to more than double the minimum wealth needed to become a private banking client at the firm. In a pitch to ultra-high-net-worths, the London-based bank is planning to hike its investable asset minimum from $2m (£1.6m) to $5m (£4m), while focusing its attention on clients above the $30m (£24m) mark, according […]
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Phil Young: A word of warning on VCTs and EISs
As we approach tax year-end and with pension tax allowances continuing to shrink, I have noticed an increased interest in alternative income tax relief investments such as enterprise investment schemes/seed enterprise investment schemes and venture capital trusts. But while these products can be the right recommendation, they should not be seen as the next-in-line investment […]
Hornbuckle parent acquires DFM research business Discus
Embark Group, the owners of Sipp provider Hornbuckle and platform Avalon, has bought discretionary fund management research business Discus. The price of the deal was not disclosed. Discus will sit alongside The Adviser Centre and Scopic Research, Embark’s other investment research businesses. Embark said the move was targeted at helping advisers make better investment decisions. […]
Old Mutual sells $446m stake in asset management arm
Old Mutual has agreed to sell a 24.95 per cent stake in Old Mutual Asset Management to HNA Capital US for $446m (£355m). Following the sale, Old Mutual’s shareholding will halve from 50.8 per cent to 25.9 per cent. The initial part of the transaction, expected to take place in 30 days subject to US […]
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Trade bodies in six-way merger pick name for new organisation
The new financial trade association representing a merger of six bodies in the finance industry has been named as ‘UK Finance – Representing UK Finance and Banking’. The name for the new body comes after it was announced last year that the Asset Based Finance Association, British Bankers’ Association, Council of Mortgage Lenders, Financial Fraud Action UK, […]
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Standard Life and Aberdeen announce split chief executive role
Standard Life chief executive Keith Skeoch and Aberdeen Asset Management’s boss Martin Gilbert will share the role of chief executive following the merger of the two businesses. Skeoch and Gilbert will be co-chief executive, sharing responsibility for the executive committee, the combined group’s strategy and objectives and will oversee operational performance, strategic direction and the […]
Consolidator looks to raise acquisition funds in new share offer
Consolidator AFH Financial Group is planning to raise £10m in acquisition capital through a new share placing. The firm says net proceeds of the 175 pence per share placing will be used to “execute the company’s acquisition pipeline and for general corporate purposes”. In February, AFH made its fourth acquisition of 2017, acquiring Honiton-based IFA […]
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Three ways to ensure the fair treatment of vulnerable clients
The FCA has recently updated Occasional Paper No. 8, within which it explains a vulnerable consumer as such: “… someone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care.” The focus on this area seems to be continually increasing. So what […]
Phil Bray: Perfecting your web presence for the Age of Google
I remember giving a presentation to a group of advisers a couple of years ago. The subject was one I can happily speak about at length: how advisers can create effective websites. My audience were an extremely positive and engaged bunch. All except for one chap at the back. While others listened carefully, he sat there, […]
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How should advisers adapt to the rise of coursework?
The new CII AF8 unit will be assessed via coursework, not the traditional exam-based approach, which has come as a surprise to many
Roderic Rennison: Ten key challenges for advice firm owners
Businesses that can address all 10 points are likely to be profitable and successful
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Malcolm Kerr: The trouble with measuring value
Advisers need to better articulate the services they provide as there is a risk the FCA might simply equate ‘expensive’ with poor value
Is adviser networking worth it?
Networking can be extremely useful to advisers in businesses that work in isolation. But how do you ensure doing so does not waste precious time?
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Striking a balance on profits and compliance
Regulatory change is occurring at a remarkable pace as the FCA strives to ensure the advice market better serves the needs of its customers. This shift in gear by the regulator has meant some firms have struggled to hit the right balance between their commercial objectives and maintaining effective compliance. Firms should address the following […]
Brett Davidson: 10 questions to get your business back on track
A lack of clarity about the direction of your business creates havoc
How Govt’s apprentice funding freeze risks the future of advice
Existing training providers have seen their funding slashed while advice firms have to wait longer to register their employees for apprenticeship schemes
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Lisa Winnard: Why working closely with your team is key
We live in a world of unrelenting change, with economic and political agenda, global mobility or social and technological trends all driving adaptations to the way we work. Gone are the days of business as usual. During a recent leadership challenge session, I asked our leaders and future leaders what one thing they would change. […]
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Reassure: Why we signed up to the CII commitment
What practical steps have you taken since signing up to the commitment to ensure professionalism standards are met? As the administrator of one of the largest and most complex legacy books in the UK, it is critical all our 2,000 staff – and not just those who are customer facing – are highly competent with […]
HCL: Why we signed up to the CII commitment
What practical steps have you taken since signing up to the commitment to ensure professionalism standards are met? As an outsourced service provider to some of the UK’s largest life and pension providers, I was delighted when I joined in April as COO to see that HCL IBS (Insurance Business Services) had signed up to […]
MM Wired: Beyond the election – On demand
Title: MM Wired: Beyond the election Date: Thursday 15th June Time: 11am Money Marketing Wired returned in association with The UK Edge on Thursday 15 June with a topical debate on the election results. To see the full on-demand version of this session, please watch the video above. Panelists Stephanie Flanders – Chief Market Strategist (UK […]
Standard Life/Aberdeen merger: What we know so far
MM takes stock of the mega-merger set to shake-up the asset management industry
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Watch: Where do your FCA fees go?
Money Marketing takes a look at where your regulatory bills go after the FCA released its latest levies this week.
Watch: Danby Bloch on what advisers should expect from the Budget
Ahead of the Budget tomorrow, Money Marketing editor Natalie Holt speaks to Helm Godfrey chairman and Platforum consultant Danby Bloch about the backdrop to Chancellor Philip Hammond’s first Budget speech. Bloch discusses the expectation around changes to National Insurance contributions and income tax, and the implications for the self-employed. He also gives his thoughts on […]
Overseas transfer charge
By Jim Grant, Senior Product Insight & Technical Support Analyst, Royal London Transfers to overseas pension schemes are not recognised transfers unless the transfer is to a Qualifying Recognised Overseas Pension Scheme (QROPS). A transfer to an overseas pension scheme that isn’t a QROPS is therefore an unauthorised payment and taxed accordingly. However, even if the […]
Financial advice can benefit customers by £40,000
New research shows those customers who receive financial advice can be better off on average by £40,000
The lucky ones
By Denise Wond, Marketing Relationship Manager, Royal London Do you consider yourself lucky? I don’t; I never seem to win a prize in the raffle, if there’s a cancelled train it’s usually the one I’m meant to be on and don’t start me on last year’s holiday. On the other hand, when I think about […]
