The FTSE 100 index has finished 20 per cent lower on last week’s close, falling by over 1000 basis points to 3,974 from 4,980 last Friday.
With redundancy rates rising thanks to Lehman Brothers, Bradford & Bingley, Lloyds/HBOS et al, questions are being asked of those providers offering protection against unemployment. Are they offering enough advice on the product? How well positioned are insurance firms to deal with the imminent influx of redundancies? And will providers start cherrypicking a client base, swerving to avoid those working in the financial sector?
Iceland’s trade unions are being urged to repatriate foreign assets to shore up extra funding for the country’s financial system.Pension funds are being asked to repatriate foreign assets as the Central Bank looks to strengthen foreign exchange reserves.Last week, the Icelandic government nationalised the country’s third largest bank, Glitnir, sending the local Krona currency into […]
In a recent study, my organisation identified that the potential market capitalisation of advisers in the retirement market over the next 10 years could be as much as £7.5bn. Given this is many times the entire market capitalisation of the quoted UK IFA sector, it is fair to say this area represents the largest single opportunity for the adviser community today.
The manager of the Artemis Strategic Assets Fund explains why he is holding onto his (expensive) bond shorts and unusually is keen to buy equities.
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Scotland has introduced a new set of income tax bands, but pensions experts warn that the changes could cause issues with pension tax relief calculations. In the Scottish Budget today, the Government announced a new starter rate of 19p and then a 21p rate for those earning over £24,000. The higher rate of tax is […]
The scramble to do as many defined benefit transfers as possible while values remain high is unabated, and I am constantly amazed at how some firms have thrown caution to the wind in the hunt for their share of this – admittedly lucrative – opportunity. The problem is that advisers are putting their profits before […]
The FCA working group tasked with setting a template for fund charge disclosure is considering whether one or multiple templates would be more suitable. The institutional disclosure working group, chaired by transparency champion Chris Sier, has been tasked with creating a new template for fund costs and charges following the package of remedies outlined in […]