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SJP plans 10-day blackout for replatforming

Advice giant St James’s Place will block access to its investment platform for 10 days while it migrates services to a new provider. SJP tells Money Marketing that the work will affect online service ability for clients between 19 October and 29 October. A spokesman says: “SJP will carry out essential maintenance to our systems as part […]

Can advisers really beat the market downturn?

This summer saw the S&P 500 rule headlines for enjoying the longest-running bull market in history. Yet, as per the old adage, what goes up inevitably comes down, and it is the job of advisers to manage clients’ portfolios accordingly – either directly or via the third-party investment services they use. A crude assumption might […]

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Tom Hegarty: Should paraplanners be Level 4 qualified?

There is currently no minimum qualification level, but the majority of advisers think this needs to change The role of the paraplanner is a relatively new one and its definition and responsibilities can differ hugely between firms. According to the Chartered Institute for Securities and Investment, the role can be broken down into four key […]

Court ruling opens door for higher IHT bills

Pension savers in ill-health are at a greater risk of being hit with a 40 per cent inheritance tax bill after a Court of Appeal ruling in favour of HM Revenue & Customs, experts have argued. Currently anyone who is in ill-health, transfers their pension and then subsequently dies within two years could see their […]

Equity release breaks £1bn mark in Q3

Homeowners released £1.02bn of property equity from July to September, according to The Equity Release Council’s newest figures. This compares to the £971m released in Q2 of this year, and £824m in Q3 2017, a yearly increase of 24 per cent. In contrast to this sharp growth, the Council points out that the average amount withdrawn […]

Ros Altmann
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Ros Altmann: Pension tax relief will be left well alone

Rumours are swirling about changes to pension tax relief being announced in the upcoming Budget. Predictions of a shake-up to pension incentives have been touted for many years but, so far, we have only seen tinkering rather than root and branch reform. The £40bn from pension tax relief would come in pretty handy for a […]

Fundsmith backed investment trust begins trading

Fundsmith has successfully launched its new investment trust, Smithson, to the main market of the London Stock Exchange this morning. The asset manager led by star manager Terry Smith has confirmed that 82,250,958 shares were issued at 8am. The firm also noted that Smith and the other founder partners and key employees of Fundsmith currently […]

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The true cost of leaving a DFM

Exit fees can mean advisers are hit with high and unpredictable costs, but are they justified?   Many advisers have been caught out with the unexpected burdens that come with trying to leave a platform, and an increasing number of them are looking into the potential pitfalls that exiting discretionary fund manager services could bring as […]

Invesco seals merger with OppenheimerFunds to break $1trn mark

Invesco has sealed a deal to acquire OppenheimerFunds as the firrm looks to break into the top 10 global investment managers. The deal will see OppenheimerFunds parent Massachusetts Mutual Life Insurance Company sell the asset manager to Invesco, with MassMutual taking a 15.5 per cent stake in Invesco in return. Invesco will manage $1.2trn (£920bn) […]