Ratings agency Standard & Poors is to conduct its own investigation of endowment misselling claiming it could significantly impact on life office solvency. It says the recent regulatory and political mood has changed and further action could put pressure on life companies's ratings.
Insight Investment has bought Rothschild Asset Management for £61m in a deal which the HBOS subsidiary says elevates it into the upper tier of UK fund management groups.The deal, which prices the business at just 0.55 per cent of its assets under management, includes RAM's multi-manager operation as well as its range of retail and […]
AMP has appointed Peter Willcox as its new chairman. He will occupy the post of deputy chairman until outoing chairman Stan Wallis leaves in July next year.AMP has recently also seen the departure of its chief executive and chief finance officer, as well as its UK managing director Tom Fraser.
The Investment Manage-ment Association is warning the FSA not to allow a wide range of hedge funds to be authorised for sale to retail investors.In its response to the regulator's discussion paper Hedge Funds and the FSA, the IMA says the balance of view among fund managers is that it would be premature for a […]
Singapore-based fund manager APS Asset Management is entering into the UK retail market in the first quarter of next year with the launch of an Asian equities growth fund.The APS growth fund, which is currently domiciled in Dublin with two sub-funds, the Far East growth fund and the Japan growth fund, will be rolled out […]
According to Doug Rice, managing director of international services, in 2015, managing their international duty of care will become an increasing focus for UK-based overseas organisations in both managing their short- and longer-term challenges. As a result, strong independent advice and innovative technological solutions will become more important than ever in managing their global benefits.
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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 […]
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 […]
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 […]