Specialist lender Paragon has announced a 13.4 per cent jump in operating profits to £35.5m from £31.3m for the year to September 30, 2000. New lending has risen by 22 per cent to £510m from £419.7m and the cost to income ratio down to 40 per cent from 45 per cent. It also announced operating expenses fell 1.3 per cent down to £30.6m from £31m.
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Horlick says regulation stopping fund start-ups
Excessive regulation will prevent entrepreneurs from building fund management businesses from scratch, warns SG Asset Management joint managing director Nicola Horlick.Fund managers such as Perpetual and Jupiter have proved in the past that it is possible to build top 10 managers from a standing start.But Horlick believes the cost of regulation and compliance costs are […]
Standard outlines group pensions options
Standard Life has revealed the new fund management options for its group pensions for larger employers. This is the first time Standard has linked up with external managers in this market. The list includes Philips & Drew Life managed fund and Fleming Life Global Equity Pension Fund.
iShares bring in new US-style fund
Woodward adds: “iShares is trying to replicate the success in other countries of exchange traded funds. It is probably easier in the US because of the range of execution only stockbrokers over there. Lots of retail investors in the UK have not used a stockbroker and so I think that there is some chance that […]
Hammer home the independent message
The outcome of the investigation into pol arisation is questionable to say the least. What is difficult to understand is that we are told we have a listening Government that positions itself as the people's champion. Yet, quite evidently, consumer concerns have been overridden by the politics of the day.We are now seeing a scen […]
UK Outlook 2017: Overseas earners will be key amidst 2017 inflation
By Mark Martin, head of UK Equities, Neptune A by-product of sterling weakness is inflation, and we expect this to continue to gather steam over the coming months, with energy and food prices the hardest hit. The full impact of sterling weakness is yet to impact the prices paid by consumers due to the hedging arrangements […]
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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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