Friends Provident life and pension new business rose by 31 per cent last year. Sles increased from 5.4bn in 2005 to 7.1bn.
St James’s Place chairman Mike Wilson says many IFA networks are not viable businesses because they focus on size rather than profitability.He says: “They have clearly proved they are not viable business models. The only measure of success for a company from a shareholder’s point of view is, bluntly, how profitable you have been.”Wilson cites […]
Early in January, the Bank of England caught the market by surprise by raising interest rates to 5.25 per cent. However, it was always likely that the bank would have to move rates higher fairly soon in response to the pick-up in core inflation over recent months.Until recently, higher input costs had not been substantially […]
A Scottish businessman had the misfortune of watching his personal fortune slashed in half as he lost over 78m in 10 hours.Jim Morrison, who set up UK technology company I-mate, which produces a rival to Vodafone’s Blackberry christened the Macberry, sat in horror as his 76 per cent stake in the business fell from 160m […]
Essex IFA Scott & Casey Financial Management has bought M&M Financial Advisors.M&M mainly specialises in advice to high-net-worth clients and advising companies on employee benefits.It was set up in 1993 and has three advisers. Founders Fergus Mackenzie and Howard Mayes will remain with Scott & Casey but the third adviser is leaving the firm.Scott & […]
As we approach the two-year milestone of auto-enrolment, employers have had the opportunity to truly assess the capabilities of their chosen support. They are also now realising that getting to the staging date was the easy part, and that support is required for almost every aspect of the day to day running of their scheme. With the three-year re-enrolment window coinciding for many with the total removal of commission and Active Member Discounts from pension-related products and services, as well as the introduction of the pension charge cap in April 2015, many employers will have no choice but to review their support options. But, what is involved in transitioning your auto-enrolment scheme away from your current support options? This guide from Johnson Fleming aims to outline some of these key areas and provide information and discussion points on what you need to consider.
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The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
Sam Seaton talks about how her interest in people affects her approach to technology