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Lloyds ‘on track’ to grow financial planning

Lloyd Banking Group chief executive António Horta-Osório has said that the group is on track with its plan for digitizing its business and boosting its presence in financial planning and pensions.

The bank said in February that it was looking to increase its financial planning and retirement open book assets by more than £50bn and that it was eyeing one million new pension customers by 2020.

The bank recently formed a partnership with Schroders, making use of the manager’s expertise and awarding it part of a giant £110bn mandate that was formerly run by Standard Life Aberdeen.

Schroders and Lloyds in talks over wealth management tie-up Horta-Osório says the joint venture initiative with Schroders demonstrates Lloyds’ “focus on enhancing our customer proposition and growing our financial planning and retirement businesses.”



FSCS hit with more than 300 claims over collapsed Sipp provider

The Financial Services Compensation Scheme has received more than 300 claims against the collapsed Lifetime Sipp Company in the last six months. Data provided to Money Marketing by the FSCS shows the number of claims being considered by the lifeboat fund has ballooned from 220 in July to 310 at the current time. Most of the claims are pensions related […]

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Pensions regulator bans ‘mastermind’ behind £13.7m scam

The Pensions Regulator has banned the man branded the “mastermind” of a £13.7m pension scam and his three accomplices from being trustees. David Austin – along with Susan Dalton, Alan Barratt and Julian Hanson – ran a scam that cost 245 people their pension savings, after the members were persuaded using cold-calling and other techniques […]


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