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HSBC profits disappoint ahead of ‘bumpier’ financial times

HSBC has reported a lower-than-expected 2015 pre-tax profit for the end of 2015, as the bank sees a “bumpier” financial environment ahead. The bank said profit before tax was $18.87bn (£13.28bn) for 2015 against $18.7bn the year before. Net profit for 2015 dropped 1.2 per cent to $13.52bn from the previous year. HSBC group chief […]

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The big question: Does the advice gap really exist?

Advisers and industry experts have called into question what is thought to be one of the most fundamental negative outcomes to stem from the RDR – the creation of an advice gap. The advice gap, defined as those who cannot or will not pay for full regulated advice, has been widely accepted as an inevitable […]

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Smoke and mirrors: How pensions will suffer due to hidden fund charges

New watchdogs tasked with holding pension providers to account will effectively be working with one hand tied behind their back as delays to EU rules cause fund transaction costs to remain hidden for longer. The FCA and the Department for Work and Pensions are working on measures to boost disclosure but expected delays to European regulations […]

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Tilney Bestinvest to acquire £1.8bn asset manager

Tilney Bestinvest is acquiring £1.8bn investment manager Ingenious Asset Management for an undisclosed sum. The combined group will now manage £11.2bn in assets, with 80 per cent being managed or advised. Ingenious gives Tilney Bestinvest access to high-net-worth and ultra-high-net-worth clients in London, says Tilney Bestinvest chief executive Peter Hall. Guy Bowles, chief executive of Ingenious […]

The death of retirement – a boost for protection?

According to our recent report on the death of retirement, changes in workplace pension provision mean that coming generations of retirees could have a radically different experience of retirement from their parents. The average contribution rate into an old-style final salary pension was around 20% of total wages, the statutory minimum for a new automatic […]

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