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Hargreaves reveals DIY drawdown customer behaviour

Customers who entered drawdown contracts without an adviser following the pension freedoms have avoided classic amateur investing mistakes, new figures from Hargreaves Lansdown appear to show. Experts have been warning the Government reforms would leave non-advised customers exposed to market shocks and at risk of crystalising losses. But Hargreaves’ analysis of 27,000 self-managing customers indicates […]

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Ex-JP Morgan adviser jailed over £14m client theft

A former JP Morgan Chase & Co investment adviser has been sentenced to five years in prison for stealing over $20m (£14m) from wealthy clients. The Times reports Michael Oppenheim used the money to feed a “pathological” gambling habit. He was ordered by US district judge Analisa Torres to forfeit $20.2m and pay redress to […]

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Openwork names new chief operating officer

Openwork has named Neil Milner as its new chief operating officer. Milner joins from car and cycling retailer Halfords, where he served as head of programmes. He has also held roles at the National Trust and Travelodge Hotels. Milner’s new role will see him take on responsibility for developing the network’s systems and process. He […]

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]

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