Savers have withdrawn £5.9bn since the pension freedom reforms came into force, according to the Association of British Insurers.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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Two company directors have been disqualified for a combined 20 years after running a fine wine investment scam that lost investors nearly £1m. An Insolvency Service investigation found that Crimson Fine Wines cold-called customers and then did not purchase or allocate wines to those who had paid for their investments. The investment scheme offered investors […]
AJ Bell has won a case against a client who wanted his platform fees for the past 14 years reduced. A client, referred to as Mr N, complained to the Pensions Ombudsman that, because he did not have enough information about what fees would be payable, he sold a property holding in his Sipp far […]