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Ex-FCA chief Wheatley’s final pay cheque hits £827k

Ex-FCA boss Martin Wheatley will be paid £827,000, including a £48,000 bonus, for his last 16 months at the regulator. Wheatley resigned from the FCA and its board in July and September 2015 respectively, but continues to be employed by the regulator until 31 July 2016. According to the FCA’s annual statement, Wheatley’s basic salary for […]

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Schroders suffers £3.3bn adviser outflows

Schroders has suffered £3.3bn outflows from advisers spooked by market volatility as it announces total assets under management of £343.8 billion for H1 2016, compared to £309.9 billion a year earlier. Sterling weakness has helped boost assets under management by £28.5bn. The asset manager says volatile markets were impacting investor sentiment, particularly in the UK and Asia, […]

MoneyFarm boss on getting to robo-advice 2.0

MoneyFarm co-founder and chairman Paolo Galvani is pondering the “emotional implications” of the Brexit vote. That said, despite the surrounding state of uncertainty in the run-up, the Italian robo-advice firm had been prepared for a “leave” vote just four months on from the launch of its UK operations. “We had worked before the referendum on […]

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PFS urges Osborne to intervene over FSCS product levy

The Personal Finance Society has written to the Chancellor to press its case for a product levy to be considered as part of the Financial Services Compensation Scheme funding review. The professional body wrote to George Osborne this week setting out its concerns about the current “unsustainable” FSCS funding model. PFS chief executive Keith Richards […]

The Rubik’s Cube: China’s policy trilemma

By Douglas Turnbull, Investment Director, Head of Chinese Equities China faces a ‘Rubik’s Cube’ policy trilemma, whereby it needs to sustain a minimum acceptable level of growth, deal with issues such as overcapacity and reform the financial system to make it a far more efficient allocator of capital. Given the contradictory nature of these objectives, […]

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