Savers have withdrawn £5.9bn since the pension freedom reforms came into force, according to the Association of British Insurers.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.
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Money Marketing has teamed up with Taxbriefs to bring you the definitive guide to the EU’s forthcoming General Data Protection Regulation and how it will affect your firm. Get your free briefing with everything you need to know and stay ahead of the game below. Regulation: Do Mifid II and the GDPR have conflicting aims?
Committee shows particular concern over pension scams The Work and Pensions Select Committee wants evidence on whether there are gaps in the advice and guidance market and if customers are changing their behaviour after getting advice as part of its inquiry into the pension freedoms. The committee announced today it is opening an inquiry into […]
Consolidation in the advice market is just beginning, but there is still a place for small, well-run advice firms. That is the message from Ascot Lloyd Bellpenny chief executive Nigel Stockton, who predicted more private equity firms will also invest in the market. Speaking at the Money Marketing Interactive conference last week, Stockton said: “My […]