Fund manager slashes competition probe penalty provision

Fund manager River and Mercantile has reduced the amount it set aside for a potential penalty relating to a FCA competition probe by £900,000. In March, River and Mercantile said it set aside £1m through a reduction in director pay in response to the regulator’s investigation. In a trading update today, the firm says that […]


Advisers dominate latest FSCS default list

The Financial Services Compensation Scheme declared eight firms in default in May, including advice firms from Wales, Yorkshire and the Midlands. The firms on the list include Welsh adviser Grosvenor Butterworth, West Midlands advisers Lifeboat Financial Advisers and Platinum Independent Advisers and London-based Argent Personal Finance Managers. Also on the list are Yorkshire firms Alliance […]

The savvy consumer

In last year’s FCA thematic review of the mortgage market, one of the key things highlighted was the “savvy consumer”. That’s the client who comes in the door with a very clear idea of what they need and expect you to get them it. They don’t think they need advice, they have after all consulted […]


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