The FSA has publicly censured GD Tancred Financial Services for not clearly explaining and documenting the risks of income withdrawal to customers with small pension pots. GDT is writing to all income withdrawal customers to make them aware of the risks.
The announcement of a further delay to the Parliamentary Ombudsmans report into the collapse of Equitable Life has been branded disturbing by the group of MEPs involved in a separate inquiry.Parliamentary Ombudsman Ann Abraham has written to MPs saying her report will be delayed until at least May next year, taking the total length of […]
Suffolk Life director of sales and marketing John Moret says there is a danger that alternatively secured pensions will be axed in the pre-Budget report because political dogma is overshadowing common sense within the Government. Speaking at the IFP annual conference in Leicester last week, Moret said the Government has got itself into a “pickle” […]
Existing customers account for just one-third of IFA’s new business, according to Tillinghast. The consultancy says this implies the majority of new clients are recycled from other advisers and IFAs are failing to provide an ongoing service to customers. Tillinghast associate Joanna Hall says: “A cultural change is needed whereby the current sell and move […]
F&C has strengthened its US large cap team with the recruitment of Paul Allison as a US equities fund manager.
Johnson Fleming has received the ISO 22301 accreditation, which demonstrates the company’s ability to effectively understand and prioritise the threats to the business.
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]