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Schroder profits edge up
Merchant bank Schroder boosted profits last year, largely due to strong performance from its asset management arm. Profits rose by 2.5 per cent to £245m from £239m in 1996. The asset management business contributed £154.1m, up by 17 per cent from £132m in 1996. Total funds under management rose by 22 per cent to £106.9bn […]
Sausmarez made MD of Colonial Investments
Colonial Investments, the London fund management arm of Colonial Investment Management, has appointed James de Sausmarez as managing director. Sausmarez was previously retail managing director at Henderson Investors. He will report directly to CIM managing director Peter Polson.
Could you be our 'Oscar' winner?
Money Marketing this week starts its annual search for the best IFAs in the country with a call for entries for our prestigious industry awards. All IFA editions of this issue include a brochure outlining the eight Money Marketing IFA awards. These are designed to honour the best individual IFAs in the pension, investment, mortgage, […]
Dead settlor goes in offshore onslaught
The Government is clamping down on offshore tax loopholes, with the dead-settlor rule and portfolio bonds the first to be hammered. Draft anti-avoidance legislation, aimed at filling Government coffers with an extra £1.5bn, is promised next month. The general anti-avoidance rules could crack down on up to 200 tax dodges. The Budget axes the dead-settlor […]
Inheritance Tax, a tax on the wealthy? Urban myth or fact?
By Kim Jarvis, Technical Manager with Canada Life’s ican Technical Services Team. Inheritance tax has been around in some form since 1796. Estate duty dates back to 1894 and over the years this tax has evolved into the inheritance tax (IHT) we know and love today, which was introduced in 1986 as a replacement for […]
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Directors disqualified over fine wine investment scam
Two company directors have been disqualified for a combined 20 years after running a fine wine investment scam that lost investors nearly £1m. An Insolvency Service investigation found that Crimson Fine Wines cold-called customers and then did not purchase or allocate wines to those who had paid for their investments. The investment scheme offered investors […]
AJ Bell wins Sipp charges complaint
AJ Bell has won a case against a client who wanted his platform fees for the past 14 years reduced. A client, referred to as Mr N, complained to the Pensions Ombudsman that, because he did not have enough information about what fees would be payable, he sold a property holding in his Sipp far […]
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