A financial adviser who stole 10m from Halifax over four years to finance his gambling habit has been jailed for 12 years at Swansea crown court. Graham Price left three empty boxes in a safe with a signed IOU saying “Borrowed 7m from the Halifax”. He held stakes in 11 racehorses and bought advice from tipsters. Eighty-four investors who lost money are planning a legal challenge to Halifax, which froze their accounts.
The average investment trust discount has narrowed to 7.4 per cent – the lowest level in more than a decade – after two years of strong market growth, says the AITC.
Investment boutique Scottish Value Managers has hired three managers to rebuild its investment team after a series of defections. Hugh Cuthbert, Hector Kilpatrick and Neil Veitch join from Kempen Capital Management. The firm says it anticipates being up to full strength by the end of year. Cuthbert will run the continental European fund, formerly run […]
The DWP is set to consult on technical aspects of the PPF levies, valuation of the PPF and how schemes are transferred into the PPF. Minister for pension reform Stephen Timms says industry will also be invited to have input on compensation levels and the PPFs administrative functions.
The Institute of Financial Planning is working to achieve global recognition for certified status by compiling a definitive list of standards required from financial planners. The IFP is consulting with 18 countries which have the certified financial planner status to specify what should be expected of planners beyond the different tax laws and regulations they […]
Les Cameron, Head of Technical, explores defined benefit pension transfers from a technical viewpoint, tackling the topics such as transfer values and transfer drivers.
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As someone training to be a cricket umpire, fair play matters to Fortitude Financial Planning director Chris Bowmer. Doing the right thing for clients is something he has adhered to from the start of his career, even in a 1980s sales environment with nothing to gain by delving beyond a client’s surface requirements. While he acknowledges […]
Fund managers who have helped pay compensation over the collapse of life settlement bond provider Keydata will receive a £12m refund, the Financial Services Compensation Scheme has announced. Keydata’s management has been embroiled in a multi-million-pound legal battle with the FCA since it collapsed in 2009. The total bill for compensation stands at more than […]
With no employer to fall back on, the self-employed are on their own when it comes to retirement saving. Irregular income patterns can make it harder to save regularly into a pension and commit to locking money away until age 55. Those who are building a business may see that as their biggest asset and […]