Liberty International Holdings is buying the rest of the shares of Portfolio Fund Management and injecting £5m to expand the business. It is buying the remaining 30 per cent after taking a 70 per cent stake in January last year. Liberty says Portfolio's funds under management have grown more than fourfold from £20m to £90m since it took its stake.
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Aegon toast to the future
Aegon chairman of the executive board Kees Storm is noted for being a frank speaker. But even Storm is cagey over acquisitions. As Europe's insurers scramble to seal deals and analysts predict just five major players will emerge over the next few year, Aegon has been tipped as a predator. In the space of two […]
Statistically speaking
I recently read in the press some of the statistics published in the Office of National Statistics' annual report. There was much contained in the report of direct and indirect relevance to those marketing and advising on financial services products. Everyone accepts that we are in a time of significant and continuing demographic and cultural […]
The issue over the closure of Fimbra
A news article noted the Fimbra AGM and that Brian Cochrane and others had called for a poll (Money Marketing, December 18) but without giving any indication of the issues at stake. As such, I feel that you did most IFAs a disservice. It is now over three years since the PIA was established and […]
ScotEq extends its range
Scottish Equitable is extending its pension range with four new funds. Three funds are aimed at investors seeking an above-average level of risk while the fourth, UK equity income, is aimed at medium-risk investors. The European smaller companies fund is aimed at achieving first-quartile performance over a rolling three-year period. European Tactical invests in all […]
Mid Wynd International Investment Trust: Cautiously cheerful
Manager Simon Edelsten sold China at the right time, so has cash to spend on opportunities created by the turmoil. To watch the video click here
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FSCS to pay back 2,700 clients of collapsed DFM Beaufort
The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Profile: Fiducia on really knowing your clients
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
FCA warns over advisers giving ‘inadequate information’ to DB transfer specialists
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]
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