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FCA produces new rules for pension transfers

Justin Corliss – Business Development Manager Justin Corliss looks at what we know from the recently published FCA consultation paper on pension transfers. On Monday 26 March the FCA released PS18/6, its much awaited response to the CP17/16 consultation paper, Advising on Pension Transfers. While it provides some clarity for advisers, further consultation will be required. Let’s look […]

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Adviser use drives DFM assets and salaries skywards

As new regulation places increasing pressure on resources at advice firms, discretionary fund manager use has been steadily increasing in recent years. DFMs allow advisers to outsource their manager choices, fund selection and portfolio creation. According to Nucleus, model portfolios held on platform typically range in cost from 0.25 per cent to 0.45 per cent […]

Firms still solving ‘nightmare’ cost reporting under Mifid II

Cost reporting under Mifid II continues to be the most challenging element for advisers when writing suitability reports, according to Pimfa director of regulation Ian Cornwall. Speaking at the Money Marketing Interactive conference today, Cornwall says charges reporting remains “the most difficult part” of Mifid II due to the lack of standardised templates. He says: […]

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SJP trainee adviser banned and fined for faking qualifications

A St James’s Place advice recruit has been fined and banned after he falsely claimed to hold CII qualifications. Former SJP trainee adviser Alexander Stuart has been ordered to pay a £34,000 fine by 28 September after telling senior supervisors at the firm that he was fully qualified to provide advice. According to the FCA […]

Greece: the sideshow continues

Artemis managers James Foster, Mark Page and Laurent Millet comment on the Greek deal, describing it as “just another fudge” getting in the way of bigger developments in China, the UK and the US. To read the full article click here.

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