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FCA: Most firms satisfied with regulator’s performance

Most firms regulated by the FCA are satisfied with its performance and believe it is an efficient regulator, the watchdog has said. The survey conducted by the FCA and its Practitioner Panel – one of its advisory bodies – sought feedback on the regulator’s performance from the firms it oversees. The results showed that both satisfaction and […]

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Govt: Millions will benefit from greater transparency on fees

The Government has published guidance compelling occupational defined contribution pension schemes to publish information about the fees they charge more than 10 million savers across Britain. The document for trustees and managers relates to the Occupational Pension Schemes (Administration and Disclosure) (Amendment) Regulations 2018. The DWP says the plans, initially announced in the autumn last year, […]

Intrinsic founder Richard Freeman announces retirement

Intrinsic founder and former chief executive Richard Freeman will retire from the business in June 2018. Freeman signaled in 2015 that he would leave the advice network at some point in early 2017. Intrinsic former managing director Andy Thompson replaced him as chief executive in December 2015, with Freeman remaining at the firm as an executive […]

Transact reduces charges

Transact has reduced its annual charges and aligned them with the cash rates it applies. Alongside the charge cut, which will affect new and existing clients, three of the platform’s rates for cash deposits will increase at the same time. The changes, which will apply from 1 April next year, will see all portfolios with […]

LEBC launches graduate academy

LEBC Group has launched an academy for graduates to help reinvigorate the UK advice community. Candidates will receive training on technical knowledge, compliance, financial planning, pension, investment and protection. The academy, which will be based in Hull and Reading, will lead to a six-role path starting from entry level client support up to become a chartered […]

Old Mutual buys fifth advice firm in a year

Old Mutual Wealth Private Client Advisers has sealed its fifth acquisition this year with Yorkshire-based single-adviser firm Coleman Clough. The deal will add £33m assets to Old Mutual’s national advice firm. Following the move, Coleman Clough’s founder and sole adviser Roy Clough will retire but will stay in the firm to allow the clients to […]

Govt paves way for Lloyds share sale as it banks £130m dividend

The Government has announced shares in Lloyds Banking Group could be made available to the public by next March. Chancellor George Osborne announced in January  the proposed discount share sale of Lloyds would be delayed amid market turbulence. But in a statement released yesterday, Treasury economic secretary Harriett Baldwin says the Government is still committed to […]

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Aberdeen to announce job cuts

Aberdeen Asset management is to announce job cuts at the end of the month but says investment roles will be spared. In its annual results later this month, the asset manager will announce “a small number of roles” will be cut, the Financial Times reports. This is mainly as a result of the firm’s acquisition […]

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Fed official raises concerns over US growth

A Federal Reserve policymaker has warned stockmarket volatility and falling commodity prices could deal a setback to US growth. The FT reports that president of the Boston branch of the Fed Eric Rosengren has suggested US growth forecasts may need to be reduced as a result of the market volatility seen in China and a sharp contraction in Chinese manufacturing. […]

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EU calls emergency summit as Greek debt deadline looms

Eurozone leaders are to hold an emergency summit on Monday after the latest meeting failed to reach a deal to solve Greek debt crisis. The BBC reports that head of the Eurogroup, Jeroen Dijsselbloem, said “too little” progress had been made for the Greek debt negotiations and that “no agreement as yet is in sight”. He […]

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Juncker accuses Greece of ‘misleading’ voters over bailout talks

European Commission president Jean-Claude Juncker has accused the Greek government of misleading its voters over bailout proposals as Greek prime minister Alexis Tsipras claimed creditors were trying to humiliate Greece. The BBC reports Juncker said the situation would be made easier if Greece’s government was to accurately represent the terms of proposals as this could undermine negotiations over new […]