All the latest stories and features from Money Marketing’s award-winning journalists.
The Pensions Ombudsman has ruled AJ Bell must compensate a client for investment losses attributable to a botched transfer to James Hay Partnership. Mr R’s complaint against AJ Bell is it was partly responsible for the delay in the transfer of funds that shut him out of the market and lost him thousands of pounds. […]
Sometimes in business you can have an exceptional year and, provided you do not take it for granted, all is good. Allowing expenses to match an unsustainable increase in revenue is asking for trouble. As the claims deadline for PPI draws closer, it is clear the ambulance chasers will be looking elsewhere to continue the […]
Embattled mutual insurer Equitable Life has been bought by Reliance Life, part of the Life Company Consolidation Group. In March reports emerged the firm was preparing to sell. Equitable Life, which has been in run-off since closing to new business in 2000, was still technically owned by its more than 300,000 remaining policyholders, most of […]
A lot of recent work in the pensions world has been aimed at helping individuals engage with retirement saving: to better understand what they have already, how much they might need and what they will have to save to reach their target levels. The pensions dashboard project and the Pensions and Lifetime Savings Association’s work […]
As consolidators continue to acquire advice firms, analysts are assessing the financial position of key firms in the market to see how long the buying spree can continue. Aim-listed AFH continues to lead the way in volume of acquisitions, with 14 in the year to October 2017, its recently released accounts show, and eight so […]
The former managing director of a Hertfordshire wealth management firm has been charged with fraud by the City of London Police. Freddy David, previously managing director of HBFS Financial Services, was charged with obtaining money transfers by deception and fraud by abuse of position. David was released on bail to the City of London Magistrates […]
The Financial Guidance and Claims Bill will not apply to introducers, the government has confirmed in a letter published today. The letter is a response to MPs who expressed concern the cold call ban is unlikely to protect consumers and their pensions from unregulated introducers who do face-to-face marketing. It sheds light on how the […]
Bank branches across the UK are closing at a rate of around 60 a month, new research from consumer group Which? has found. By the time we reach the end of 2018, 2,868 branches will have closed in the last three years. RBS has led the way in closures, but the rate of branches shutting […]
Will a fund manager parent be good for Intelliflo?
Three considerations for investors in the region It is no secret that China’s financial markets have gradually been opening up over the past decade. With the inclusion of domestic A-shares in MSCI’s emerging market indices this year, 2018 could potentially be a watershed year for the country’s growing influence on financial markets. For now, this […]
Is industry right to think dashboard will boost engagement when inertia has proved such a dominant behaviour? The pensions dashboard concept has captured the imagination of the government and industry, and the attraction is obvious. Digitalise all existing records so individuals can see their aggregated pension entitlements in once place at the click of a […]
A two-man Welsh advice firm has racked up almost £2m in contingent liabilities from complaints about pension transfers to Sipps, Money Marketing has learned. According to annual accounts published on Companies House for the 12 months ending 31 July 2017, Kingsway Wealth Management is “vigorously” contesting a number of compensation claims against it. The firm […]