Howard Davies has told the London meeting the FSA believes it can protect consumers while easing polarisation. He said: "IFAs now face a series of challenges – new products, charging caps and, potentially polarisation reforms – but the sector has already shown that it is able to adapt to change."
Friends Provident Investment Portfolio Bond Type: Unit linked bond. Aim: Growth or income by investing in a choice of four portfolio's, cautious, balanced, managed, ethical or a choice of 10 out of 16 unit linked funds. Minimum investment: £5,000. Fund links: Managed, property, investment trust portfolio, UK index tracking, Index linked, Pacific basin, stewardship managed, […]
The threat of full-blown multi-ties has receded after the head of the FSA's polarisation review David Severn said a question hangs over their practicality.Most delegates at the FSA's open meeting on polarisation last week believe the smart money is now on gap-filling after Severn gave a strong indication that such a move could benefit consumers. […]
As the Equitable roadshow lumbers around the UK, we are informed that the Faculty/Institute of Actuaries report reflects that had this company dealt with IFAs, matters could have been different.This reminded me of one when I had to hand in an application for a single premium to a retirement annuity at the Glasgow office of […]
Client demand for advice on long-term investments and an increasing focus on wealth management have led the Misys network and national IFA Lighthouse to introduce portfolio design services.The Misys tool, part of the recently launched Misys Investment Services, has been developed solely for its network members and will recommend a client-specific portfolio of investments. The […]
This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.
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Providers are reviewing their marketing packages to advisers at conferences and on websites amid concerns they will fall foul of new inducement rules under Mifid II. Mifid II, which came into force on 3 January, brought in more stringent rules around “non-monetary benefits” from providers to advisers. The rules have been translated into the FCA conduct of […]
A misleading headline rate of unemployment means opportunities are being overlooked by investors
The FSCS is budgeting an extra £3.5m to cover the cost of running the scheme this year. The management expenses levy, which is used to cover the cost of administering the scheme separately from any compensation payments made, proposed for 2018/19 by the FSCS today is £77.7 million, up 5 per cent on the previous […]