Standard & Poor’s Fund Services is to start awarding ratings to brand new fund launches. This will enable the firm to provide analysis of funds not covered by qualitative-based data firms, which rank funds solely on past performance.
The FSA has added a buying without advice section to its Money Made Clear website, warning that consumers may be unable to seek redress from the Financial Ombudsman Service if they buy the wrong insurance product.Lifesearch head of protection strategy Kevin Carr believes this could indicate that the FSA’s imminent Icob report will make concrete […]
The Financial Ombudsman Service could face a High Court battle over its right to hear complaints against advisers from many years ago.
How very different life is now compared with when I started as an adviser. Clients are more demanding of service and the timescale of its delivery. Containing costs is key to a profitable business. Some costs such as regulatory costs are unavoidable. Some such as administration costs are controllable.These demands led us to consider what […]
Royal Bank of Scotland Intermediary Partners is set to shake up its brands, with structural changes expected in the coming weeks.The firm will be quick to market with its new proposition. RBS head of intermediaries Chris Pearson says it clearly needs to do something with its brands as the set-up has not worked so far.Pearson, […]
By Mike Riddell The moves in gilts in August were truly exceptional. Volatility in the gilt market (based off 10-year gilt futures) has soared to close to the highest levels seen this millennium, on a par with the eurozone debt crisis of 2011/12 and behind only the global financial crisis of 2008/09. The first distortion […]
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Phoenix is set to shed roles in a redundancy round following its decision to buy parts of Axa’s business last year. The closed-book provider snapped up Axa Wealth businesses Embassy, its off-platform investment and pension division and Sun Life, its direct protection business, in a deal signed last May, before also buying rival closed-book operation […]
Hargreaves Lansdown has removed Paul Chesson’s Invesco Perpetual Japan fund from the Wealth 150 list of recommended funds due to its volatile performance. Chesson, head of Japanese equities, has run the £318m fund since 2000 and takes a high conviction, contrarian approach to investing. Investment analyst Dominic Rowles says that while this has led to […]
Firms will not necessarily have to advise on every relevant investment product but it will be difficult to discount structured deposits