National IFA Mattioli Woods has pulled out of the defined benefit transfer market following a review. In a trading update, the wealth manager says that following a review it has decided to withdraw from the DB transfer market due to rising costs and increasing regulation. The update says: “Following consideration of the increasing costs of professional […]
The Pensions Regulator wants advisers to suggest ways to charge for defined benefit transfer advice on pots that are just over the £30,000 advice threshold. Speaking at the Investment Association Annual Policy conference, TPR chief executive Lesley Titcomb discussed the need for more cost-effective financial advice, particularly when it comes to DB transfers. Henry Tapper: […]
With markets kept open on Saturday, finance minister Arun Jaitley delivered a promising budget focused on growth and decentralisation. While many complained about a six-day working week, there was much to be pleased about and the markets rallied in the afternoon to finish in the green.
Former home secretary Amber Rudd is set to return to the cabinet as work and pensions secretary, according to reports. The appointment follows the departure of Esther McVey yesterday over her refusal to back the government’s draft Brexit deal. According to reports, Rudd, a remainer, was offered the job after environment secretary Michael Gove spent […]
The FCA has written to all former clients of Avacade Limited, an unregulated pension introducer, to inform them about its legal action against the firm and its directors. In November 2017 the FCA said it would start civil proceedings against Avacade Limited, now in liquidation, and its three directors Craig Lummis, Lee Lummis and Raymond […]
As new disclosure rules bring the full extent of protection commissions into the spotlight, experts are asking if this will see clients ditch their advisers in favour of execution-only services. Under the Insurance Distribution Directive, from 1 October advisers have had to provide clients with information before a product sale about any commission received, which […]