The Institute of Financial Services has warned mortgage professionals against ignoring the significance of A-Day and warning of compliance problems for those who are not prepared.Head of faculty financial regulation Mark Roberts says the run-up to April has focused on the effect on pension specialists but it could leave mortgage and other finance professionals in trouble. He says the IFS is updating all its regulatory qualifica- tions, including its certificate in mortgage advice and practice and certificate for financial advisers which will affect all those currently studying for the qualifications. Roberts says: “The changes surrounding pension tax simplification are not limited to those advising on pensions and investments but will affect all professionals currently advising on personal finance.” The Personal Finance Society is also preparing its members for April with half-day workshops, offering advisers the latest information in dealing with the new regime. Public affairs director John Ellis says the events, free to members, will take into account recent Sipp changes and provide technical help in dealing with next April’s changes. He says: “Many advisers have requested being updated on the new regime, especially in light of changes made in Gordon Brown’s pre-Budget. It is important that all our members are prepared and compliant by April and these workshops will help ensure this is the case.”
The FSA is offering A-Day information on its website to help consumers understand the changes to pension arrangements from April 6.
Rathbone IM has appointed James Maltin as an investment director responsible for managing private client portfolios. Maltin joins after five years at HSBC investments where he headed up the investment trust committee. He also managed private client portfolios and trust companies in the UK and offshore. Rathbone head of investment management Richard Lanyon says: “We […]
Old Mutual has again extended the deadline for Skandia shareholders to accept its offer and believes it is building the momentum to carry the deal through. The South African insurer says 69.7 per cent of Skandia’s shareholders have accepted the bid, which is 5.3 per cent short of the 75 per cent threshold it requires […]
73 per cent of investment trust fund managers say company growth prospects will be affected if companies are forced to pay off their pension deficits over the next ten years. They also have concerns about a lack of consumer spending and rising interest rates according to the AITC’s recent survey of 31 managers from 42 […]
The insurer UNUM has just published a new report on The Future of Employee Benefits, which makes an interesting read for anyone considering reshaping their existing remuneration package.
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Lawyers who represent investors against Berkeley Burke over allegations of mis-sold Sipps estimate more than 1,000 claims could be in the pipeline. The High Court has approved a group litigation order relating to claims against Berkeley Burke Sipp Administration, and those affected have until 23 July 2018 to register to join the group action. It […]
Do not be spooked by recent falls. The bull market has further to run. Stockmarkets have been thriving in the not-too-hot, not-too-cold “Goldilocks” backdrop of the last few years. Growth has been strong enough to boost profits, and inflation low enough to keep central bank policy loose. Recent stockmarket weakness is centred on signs that […]
The FCA continues to engage with the asset management industry on new European regulations as questions remain over how firms should report costs and charges. After over a month since Mifid II and Priips came into force, concerns have been raised on how fund fees, in particular transaction costs, should be calculated under the two […]