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Ex-Partnership chief exec Groves takes new role at equity release provider

Former Partnership chief executive Steve Groves has found a new role as chairman of equity release specialists Key Retirement. Groves remains chairman at another equity release provider, Retirement Bridge Group, after leaving Partnership Group in the wake of its merger with Just Retirement in 2015. Retirement Bridge Group’s private equity backers then sold their stake […]

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FOS orders compensation over Sipp transfer to Ucis

The Financial Ombudsman Service has told a firm to compensate a client who was advised to transfer their Sipp into an unregulated collective investment scheme.     The client, referred to as Mr C, complained that advice he received from The Citimark Partnership to invest funds from his Sipp into an Ucis was unsuitable. Mr C […]

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Just: Govt was wrong to water down default pension guidance

It’s been said that the definition of insanity is “doing the same thing over and over again and expecting different results”. It’s a phrase that came to mind when reading the government’s proposed amendment to the Financial Guidance and Claims bill. Currently pension providers must signpost those wanting to access pension cash towards pension guidance […]

Star fund manager Terry Smith lands £8m windfall

Star fund manager Terry Smith took home £8.1m last year as his boutique firm Fundsmith saw profits more than triple. Financial statements for the 12-month period ended 31 March 2017 show revenues almost doubled to £81.7m from £41.6m in the previous financial year. Net profit for the period increased from £2.8m in 2016 to £14.2m. […]

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