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CISI in drive to promote Islamic finance qualification

Two professional bodies have joined forces to co-brand and promote an Islamic finance qualification. The Chartered Institute for Securities & Investment’s Islamic Finance Qualification was launched in 2007 and has now got backing from the Association of Chartered Certified Accountants. CISI and ACCA signed a memorandum of agreement regarding their collaboration on the Level 3 […]

LEBC director pay increases as profits rise again

Directors at national advice firm LEBC have seen their pay packets rise by 10 per cent this year on the back of increased profits at the firm. The highest paid director at the IFA saw their remuneration rise by just over £25,000 in 2018, jumping from £394,000 to £420,000, accounts published today show. Combined, the […]

Ros Altmann
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Ros Altmann: Net pay injustice must end now

Auto-enrolment is a much-celebrated success, with around 10 million workers now belonging to pension schemes chosen by their employers. Unfortunately, however, the complexities of pension administration have created a major problem that has the potential to undermine confidence in it. The last thing we need is another pensions scandal splashed across the front pages. Pension […]

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Consumers unaware of FSCS pension protection

Less than one in twenty consumers are aware their pension is 100 per cent protected by the Financial Services Compensation Scheme if directly managed under a life insurance contract, research has found. The FSCS consumer survey by Populus also found 49 per cent of respondents do not think FSCS protection applied to pension products. The lifeboat scheme […]

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Phil Wickenden: Turning advice firms’ 2019 business plans into action

At the same time as our economic engines are faltering and our politics are less sure than ever, something else has been happening. The mass market is being replaced by multiple micro markets and seemingly infinite choice. The exchange of information creates ever more value, while commodity products and services are ever cheaper. It takes […]

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Pension transfer values drop in November

Pension transfer values fell by 2 per cent in November, according to consultancy XPS Pensions Group. At the end of October 2018 the group’s transfer value index was £235,000 and at the end of November it was £230,000. The index tracks the transfer value that would be provided by an example defined benefit pension scheme […]

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Ascot Lloyd acquires rival consolidator

Ascot Lloyd has acquired West Midlands IFA Newell Palmer, taking the firm above the 100 adviser mark for the first time. Newell Palmer has made a number of acquisitions itself this year, and will add at least £1.3bn in assets to Ascot Lloyd. The firm says it will now have over £7bn in client funds, […]

FCA fines focus on individuals as average penalty jumps

The FCA has turned the focus of its fines from companies to individuals in 2018, latest data suggests. An analysis from law firm Clyde and Co shows that while the total value of fines levied by the regulator in the year to date has dropped sharply compared to 2017, the average amount individuals are being […]

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FOS tells Lighthouse to refund advice fee

The Financial Ombudsman Service has told an adviser to refund a client’s £970 advice fee and pay 8 per cent interest, plus £500 compensation, after it refused to sign a form declaring advice had been given. In the case, a client referred to as Mr B was advised by Lighthouse Advisory Services to transfer two existing […]