Communication

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SJP chair retires from role

St James’s Place chair Sarah Bates will retire from the wealth manager after 14 years with the firm. Bates will be replaced by current senior director Iain Cornish in her capacity as chair, while SJP also looks to appoint a new non-executive director to the board. Bates became chair in 2014 and oversaw the transition […]

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Standard Life to compensate over botched pension collections

Standard Life must compensate a client for failing to collect regular pension contributions from their bank account. The upheld Financial Ombudsman Service decision says Ms M consolidated her pensions into one scheme with Standard Life in 2015, and drew down 25 per cent of the fund to repay outstanding debts. In order to help replenish […]

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PFS to launch free financial education programme for schools

The Personal Finance Society is set to launch a free nationwide financial education programme for schools this September. The initiative, called Education Champions, aims to help the PFS establish a link with every secondary school and college of further education in the country. It will build on the society’s existing discover fortunes programme, which uses […]

Profile: Fiducia on really knowing your clients

Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]

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FCA updates guidance on ‘basic advice’ under Mifid II

Advisers will not be able to give ‘basic advice’ on stakeholder products that fall under Mifid II and the Insurance Distribution Directive, the FCA has confirmed. Basic advice rules, which date back to 2005 and allow the provision of simpler and lower-cost advice to consumers on a range of stakeholder products using pre-scripted questions, previously […]

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“Go for it, but think carefully”: Advisers share experiences of opening new offices

Opening another office is a big decision for advice firms. If you’re considering branching your business out into a new location, what better way to prepare than learning from those who have done it before? Three advisers share their experiences. Like a start-up Scotland-based Carbon Financial Partners expanded into London at the end of last […]

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Seneca Partners sends Mifid II 10% drop note on EIS product

Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]

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Adviser bills provider for ‘shambles’ service

An adviser is billing closed-book provider ReAssure for a series of errors that allegedly caused a delay to a client accessing their pension. FPS London senior partner Robert Taylor was contacted by a client who wished to access their ReAssure pension and go into flexible access drawdown. The client told Taylor that they had to […]