Positive Solutions had its strongest-ever October and has reported 10.7m in commission and fees received for the month. This follows a record September for the firm and PosSol says it is on track to hit its forecast annual turnover of 120m this financial year.
Product providers may find it difficult to adopt the new technology required for customer-agreed remuneration, warns Thinc Group group corporate strategy director Roderic Rennison.Rennison, who chaired the RDR’s professionalism and reputation working group, told the RDR debate at the Personal Finance Society conference that there are worries around the logistics of CAR that have to […]
Personal Touch Packaging managing director Rob Jupp believes lenders should not be criticised for cutting satellite packagers out of their distribution channel.Speaking at the Mortgage Business Expo, Jupp said he does not see a future for satellite packagers and considers that franchise partners are a much better solution. Satellite packagers repackage products for other firms.But […]
Standing in the dealing room of a firm of London stockbrokers last week, I became aware that people were clustered around TV screens showing pictures of a plume of smoke over central London. As the news came in of a serious fire close to Canary Wharf, so the earlier bullish mood of the market evaporated and shares moved into freefall.
HM Revenue & Customs chairman Paul Gray has quit after admitting his department has lost confidential information, including bank details of 25 million child benefit recipients.Chancellor Alistair Darling told Parliament on Tuesday that it was an “extremely serious failure” on the part of HMRC but stressed there is no suggestion any identity theft has taken […]
What a difference six months makes. Speaking in September last year, we had warned of ‘excessive pessimism’ afflicting the market’s perception of India. Since then, responsible central bank policy from the Reserve Bank of India (RBI), alongside improving global growth, has meant that India’s macro environment is strengthening quickly. The current account deficit has shrunk, inflation is falling and the government has embarked on a heavy dose of much needed fiscal consolidation. As a result, the rupee has been one of the strongest global currencies this year while the market has touched all-time highs, rallying by more than 20 per cent (GBP) since September. This begs the question: are we now in a period of ‘irrational exuberance’? Not yet.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]