Institute of Financial Planning vice president Ian Shipway is replacing Campbell Edgar as president of the IFP while Jane Wheeler is to be the IFP's new vice president. John Porteous and Barry Horner are joining the IFP's board.
The LIA's extraordinary general meeting today on the proposed merger with Sofa came back with a resounding yes vote. Two thousand six hundred and sixty four votes (87 per cent) were in favour of the merger with just 414 against. Three thousand and seventy eight votes were cast. Sofa's EGM is on Friday.
Julian Sutton has joined Schroders' multi-manager team as a senior fund manager from Credit Suisse Asset Management. His appointment comes just one month after the launch of Schroders' multi-manager funds and brings the multi-manager team to six. Sutton will be responsible for analysing and monitoring investment funds, including Schroders' S&P strategic balanced and S&P high […]
Standard Life has suspended its mortgage endowment promise, potentially hitting 600,000 policyholders who suffer a shortfall. The promise was conditional on Standard increasing its free capital from its level in September 2000. However, the firm says poor investment conditions over the last four years mean it cannot justify making further provisions towards the cost of […]
Legal & General director of compliance Diana Miller has attacked the FSA for failing to grill any intermediaries during an investigation into endowment misselling. Miller told a financial services and markets tribunal that the regulator had no und-erstanding of L&G's sales processes because it had failed to speak to any advisers. L&G is appealing against […]
Indian equities have officially re-entered a bull market, with the benchmark index climbing to a 11-month high. Better-than-expected data on US jobs and a brightened outlook for global growth have contributed to the market’s strong returns, but domestic drivers have also played a big part in the recent rally. Kunal Desai, Manager of the Neptune […]
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James Hay grew its assets under administration by 15 per cent to £25.5bn in 2017, as net inflows also increased. James Hay parent IFG Group released its full-year results today, reporting net inflows at James Hay of £3.4bn, which was an increase on the 2016 result of £2.6bn. Overall, the group posted a £400,000 loss for […]
Cofunds’ advised clients will move to the new Aegon platform over the first May Bank Holiday, with the new platform expected to be up and running by 8 May, Aegon has confirmed. Aegon completed the first stage of moving Cofunds customers onto its new combined platform in December, transferring 79,000 non-advised investor portfolio service customers […]
Columbia Threadneedle Investments is calling for auto-enrolment into drawdown funds for people nearing retirement. According to research by the asset manager, people planning their retirement are confused about how they will convert their pensions savings into income, how much they might need in retirement and how long their savings might last. The firm said that […]