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Foster Denovo launches recruitment drive

Foster Denovo is hosting a series of seminars to boost recruitment in advance of the RDR.

The firm currently has 100 partners and is aiming to recruit existing advisers with existing client banks of corporate and private clients and is particularly focussing on increasing its presence in the south-east of England.

Foster Denovo chief executive Roger Brosch says: “The purpose of recruitment events is to support the business in its bid to expand and drive up revenues. We are well prepared for RDR and ready for this next stage in our development.

“Foster Denovo has a stakeholder culture among our partners and employees. Although we have employed advisers, we are a strong advocate of the ‘self-employed’ model, because it offers partners the opportunity to fulfil their potential without the constraints that come with running their own business. We offer partners high levels of continuous support and training to ensure we have some of the most knowledgeable and capable  advisers in the market.”



HMRC backtracks on VAT for ongoing advice

HM Revenue & Customs has backtracked on its view that ongoing advice services should be subject to VAT following industry pressure. Last week, Money Marketing highlighted the lack of clarity on VAT being charged on ongoing services, such as annual reviews, based on correspondence from HMRC. It contradicted earlier guidance this year from the Government […]

Govt under pressure to exclude micro firms from auto-enrolment

The Association of Consulting Actuaries has called for micro employers to be excluded from automatic enrolment due to concerns about the administrative costs of complying with the new rules. The UK’s biggest employers began auto-enrolling their staff into a pension scheme at the beginning of October. Firms with fewer than 50 employees have had their […]

Bestinvest downgrades Investec fund

Bestinvest has downgraded the £343m Investec Global Free Enterprise fund to a one-star, sell rating. The fund was previously downgraded in 2010 “following substantial underperformance in the 2008 banking crisis”. Analyst Tom White says the fund’s investment process is partly dependent on the Investec 4Factor quantitative system, “and in common with other quant-based funds tends […]


Wheatley: No ‘soapbox rhetoric’ from tougher FCA

Financial Conduct Authority chief executive designate Martin Wheatley has set out how the industry will be subject to a tougher regulator focused less on “soapbox rhetoric” and more on competition and good consumer outcomes. Speaking at the launch of the FSA’s “Journey to the FCA” document published this morning, Wheatley said the new regulator will […]

The curse of long-term cash

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, reveals why clients should be seriously concerned when short-term holdings of cash turn into a long-term investment. There is nothing wrong with holding wealth in the form of cash on a short-term basis. For many people capital stability is important and access to ready cash […]


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