A package has finally been agreed that should stave off default by Greece – for two years. It constitutes 30bn euro from the IMF and 80bn euro from bilateral loans with European governments. Finance ministers also agreed a 750bn euro package to stave off contagion spreading to other eurozone countries that may struggle to refinance.
Lazard Asset Management is planning to appoint a manager to run an emerging markets smaller companies fund. Under the stewardship of James Donald, the company already manages the £700m Lazard emerging markets fund. It also has an emerging market growth fund at a reasonable price (Garp) strategy that is only available to institutional investors, and […]
The Institute of Financial Planning says it plans to offer a QCF level four qualification for advisers, available later this year. Chief executive Nick Cann says it is impor-tant members can “access all aspects of their career development from their professional body”.
Trapped between expectations for near double-digit returns and strong apprehensions about investing in persistently volatile markets, investors worldwide are of the opinion that professional financial advice is worth the fee. But even though they believe individuals who work with a financial professional are more likely to achieve their goals, investors have a clear vision of […]
The Organisation for Economic Co-operation and Development claims behavioural biases and low levels of financial knowledge are undermining people’s ability to make appropriate decisions for their retirement. The OECD’s Pensions Outlook 2018 says automatic features, default options and simple information and choice could combat the lack of financial literacy. The OECD’s view is that automatic enrolment […]
Aviva should pay £500 compensation for the way it handled an investment query that caused stress to a daughter who took power of attorney for her mother. In the Financial Ombudsman Service ruling, Miss S has power of attorney for her mother and complains Aviva delayed providing information about a bond. She goes onto argue […]
Advice is becoming a more risky business, meaning firms must rethink their approach to the issues they face Given the Financial Ombudsman Service’s compensation limit is set to rise to £350,000, it is time for advice firms to rethink their approach to the risks they now face. The FCA’s plan is for the new limit […]