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HSBC axes planned pay freeze

HSBC is to end plans to freeze staff pay this year following protests by employees. The bank stated in January that it would impose restrictions on pay and hiring. However staff, who had already been told by managers how much their pay rises would be, protested, and according to reports the bank has now confirmed […]

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Malcolm Kerr: Will the advice review reignite basic advice?

The big question: is commission going to be re-introduced? The short answer: No. You cannot re introduce something that did not go away. Remember basic advice? The RDR specifically exempted it from the commission ban. Perhaps the solution to the advice gap might see basic advice reincarnated – if, of course, there is an advice […]

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Former Hargreaves Lansdown staff launch tax-efficient investment service

Five former Hargreaves Lansdown staff have launched a non-advised investment service for tax-efficient products aimed at high-net-worth individuals. Wealth Club will be led by former Hargreaves Lansdown director Alex Davies and investment manager Ben Yearsley, alongside three former colleagues from the firm. The Bristol-headquartered business will mainly offer EIS, SEIS, VCT and IHT products. It aims to research […]

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Hornbuckle parent acquires failed Avalon platform

The parent of Sipp firm Hornbuckle has taken over stricken platform and Sipp provider Avalon Investment Services. Embark Group has set up a new firm, Embark Investment Services, to take control of Avalon’s £300m of assets and 50,000 clients – of which 1,200 have Sipps. Avalon applied to go into special administration this week after […]

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