Australia has imposed a harsh new cap for lifetime contributions to pensions, dramatically restricting the amounts the British savers will be able to take with them if they emigrate Down Under. Last week the Australian government installed a limit of $500,000 (£254,000) on non-concessional contributions, sometimes known as ‘after tax’ contributions, that can be made […]
Standard Life and James Hay are imposing strict rules, including compulsory property managers, on customers who hold property within a Sipp. The providers require a property manager to be involved even if the Sipp member is also the tenant. A Standard Life spokeswoman says customers must use DTZ, Lambert Smith Hampton or CBRE as manager. […]
Exposure to the UK small-cap market can provide investors with additional spice to their wider portfolios. Like any good chef, however, fund managers have to consider a broad range of ingredients in order to make the end result a tolerable experience. Providing investors with a dish that could leave them with heartburn would not be […]
Sales at Just Retirement plunged by nearly a fifth (18 per cent) in the first three months of the year, quarterly results published today show. Total sales – including bulk and traditional annuities, drawdown and equity release – fell from £276.1m to £226.7m year-on-year. Defined benefit de-risking deals fell 54 per cent, to £43m, while […]
Jacob de Tusch-Lec, manager of the Global Income Fund, analyses a sell-off so “vicious” that the ‘hot’ stocks are underperforming emerging markets. What does it mean for the portfolio – now and in the months to come?
A few weeks ago, I was bold/stupid enough to suggest that as an industry we can be too eager to dive into the technical nitty gritty and gloss over some of the simple but important bits – understanding the stuff people like and want, then delivering said stuff in a way that floats their boat. […]
Why is a change required when the industry has shown it can do the job? Rightly, there seems to be universal demand for faster transfers between investment platforms when consumers want to switch. The FCA has made it clear it expects this to happen and if it doesn’t, platforms could be facing penalties. In its […]
More than 600 firms have signed up to the Personal Finance Society’s new standard aimed to improve defined benefit transfers since its launch last month. It consists of consumer guide for DB transfers that is meant to help consumers better understand what to expect from regulated financial advice. The guide defines an adviser code based […]