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Gina Miller-led manager launches new Sipp as it reforms fees
SCM Direct has tweaked the fees on its digital offering in response to the upcoming Mifid II rules as it launches a new Sipp account. The company, headed by prominent anti-Brexit campaigner Gina Miller and her husband Alan, claims the changes to the platform will make it one of the cheapest digital wealth managers in […]
Will advisers be able to afford research after Mifid II?
Advisers are rethinking their approach to fund research as analysts begin to set their prices ahead of looming Mifid II regulations. Competition is heating up among brokers on how much they can charge investment managers and advisers for their services as new European rules split fees for research and trading costs. The change has led […]
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Tributes paid as pensions luminary Mike Morrison passes away
Tributes have poured in from across the financial planning profession after the passing of veteran pensions guru Mike Morrison. Morrison passed away at his home yesterday. He was 55. Morrison gained the respect of the industry through a number of roles in his 30 years working in the profession at companies including Winterthur Life, Axa […]
Old Mutual sells further stake in asset management arm
Old Mutual has sold another tranche of shares in its asset management arm. The group now has just a 5.5 per cent holding in Old Mutual Asset Management as it continues to break up its business. Old Mutual had held a majority stake but halved this in March by selling $446m (£355m) worth of shares […]
A gripping five-year performance
Our Governed Retirement Investment Portfolios (GRIPs) reach their five-year milestone and prove their resilience in challenging market conditions
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Amber Rudd to return as work and pensions secretary
Former home secretary Amber Rudd is set to return to the cabinet as work and pensions secretary, according to reports. The appointment follows the departure of Esther McVey yesterday over her refusal to back the government’s draft Brexit deal. According to reports, Rudd, a remainer, was offered the job after environment secretary Michael Gove spent […]
FCA writes to pension transfer introducer clients over legal action
The FCA has written to all former clients of Avacade Limited, an unregulated pension introducer, to inform them about its legal action against the firm and its directors. In November 2017 the FCA said it would start civil proceedings against Avacade Limited, now in liquidation, and its three directors Craig Lummis, Lee Lummis and Raymond […]
Fears protection commission disclosure will turn clients off advisers
As new disclosure rules bring the full extent of protection commissions into the spotlight, experts are asking if this will see clients ditch their advisers in favour of execution-only services. Under the Insurance Distribution Directive, from 1 October advisers have had to provide clients with information before a product sale about any commission received, which […]