Savers have withdrawn £5.9bn since the pension freedom reforms came into force, according to the Association of British Insurers. The new data, which covers the first nine months of the reforms, reveals £3bn has released through 213,000 lump-sum payments, with an average payment of £14,800. The trade body adds £2.9bn was taken through 835,900 income […]
Whenever I tell people I was born in Rome and lived the first 10 years of my life in Italy there is always someone who professes surprise at the fact I have somehow managed to master the odd word of English, let alone that I make a living writing in the language. Of course, living […]
The Prudential Regulation Authority wants to strengthen buy-to-let underwriting standards by insisting on a minimum level of stress testing to ensure loans remain affordable when rates rise. A consultation paper on the future of buy-to-let underwriting says the market is defined by short-term interest-only mortgages that leave consumers vulnerable to hikes in base rate. The […]
Standard Life is in talks with the Government and the FCA over concerns its old default funds remain targeted at annuity purchase. A report by the provider’s Independent Governance Committee, published today, reveals worries historic default strategies “either do not have a lifestyle design or have a design which remains targeted at annuity purchase despite […]
Do macro headlines create white noise which impacts market prices? Portfolio Manager at Harris Associates, David Herro, discusses how market volatility can create opportunities to buy good business at a discount.
At the same time as our economic engines are faltering and our politics are less sure than ever, something else has been happening. The mass market is being replaced by multiple micro markets and seemingly infinite choice. The exchange of information creates ever more value, while commodity products and services are ever cheaper. It takes […]
Pension transfer values fell by 2 per cent in November, according to consultancy XPS Pensions Group. At the end of October 2018 the group’s transfer value index was £235,000 and at the end of November it was £230,000. The index tracks the transfer value that would be provided by an example defined benefit pension scheme […]
Ascot Lloyd has acquired West Midlands IFA Newell Palmer, taking the firm above the 100 adviser mark for the first time. Newell Palmer has made a number of acquisitions itself this year, and will add at least £1.3bn in assets to Ascot Lloyd. The firm says it will now have over £7bn in client funds, […]