Platform providers should develop a low-cost offering for mass market investors following the retail distribution review to allow advisers to service this section of the market profitably, according to technology consultancy F&TRC. In a pensions white paper published this week, F&TRC says advisers’ operating costs will become unsustainable after 2012, driven by back-office support work […]
The FSA has confirmed plans to extend consumer protection rules for occupational pension opt-outs to group personal pension schemes. The regulator says the decision to extend the scope of the rules will ensure that people who are automatically enrolled into a GPP receive the same protection against “poor advice” as those who are members of […]
The Prudential Regulation Authority must gain the support from the public and Parliament that the FSA never received if it is to be a success, according to PRA chief executive designate Hector Sants. Speaking at the launch of a briefing document on the PRA’s proposed approach to regulating banks in London last week, Sants said […]
At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.
The Private Office, a Leeds-based financial advice and wealth management group, has bought the London wealth management division of SRLV Accountants, SRLV Financial LLP. The cash purchase of the Mayfair advisers includes six staff including two qualified advisers. SRLV Financial provides independent wealth management advice to SRLV Accountants’ personal and corporate clients that mainly work […]
Pensions provider Just has raised an additional £375m in capital through a bond issue and equity placing. The bonds, which are issued by listed holding company Just Group plc, have a first call date in April 2024. They have an annual interest rate of 9.375 per cent, payable semi-annually in arrears, and meet the requirements […]
James Hay parent IFG Group has reached a sale agreement with private equity firm Epiris that will see the firm valued at £206m. IFG, which also owns national advice business Saunderson House, will sell its entire share capital to Epiris. IFG shareholders will each be entitled to £1.93 in cash per share – a 46 […]