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.
Almost 200 footballers are under investigation for alleged tax abuses linked to image rights payments, the Mail on Sunday reports. HM Revenue and Customs are reportedly looking into 198 players, 44 at Premier League level, and 29 agents. The investigation into the football world has netted £329m extra tax for the Treasury after many clubs […]
Alliance Trust Savings has been sold to fellow flat-fee platform Interactive Investor for £40m. II will also take control of parent company Alliance Trust’s office building in Dundee that houses ATS as part of the deal. ATS confirmed it was in discussions with potential new owners in July, but market watchers had tipped a deal […]
Retirees are likely to miss out on sustainable income and death benefits if they do not annuitise at least part of their pot, new research finds. In a paper from actuaries Milliman, which draws on data from provider Just, Milliman modelled a pure drawdown strategy combining equities and bonds, and a combined annuity with an […]