The FSA has banned Mortgage and Finance Club director John Vincent Burton from carrying out any regulated activities. It says Burton personally certified clients’ identification documents without checking whether they were authentic, failed to identify at least 100 mortgage applications submitted with false supporting documents, failed to maintain a business register and did not keep training and competence records.
Effective use of technology can make advisers much more efficient, says Distribution Technology. It says IP policy transaction times can be halved while for investment products the saving can be 32 per cent.
The rebalancing of the Aggressive Adviser Fund Index, which took place on November 1, provided a chance for the 18 AFI panellists to take some risk out of the benchmark. They reduced their exposure to Asia Pacific equities, choosing instead to invest in more defensive American stocks, and increased their weightings in cash, property and […]
Royal Liver, Bright Grey, Scottish Widows and Bupa are the latest in a fast growing list of providers to temporarily pull out of the pension term assurance market following the U-turn in yesterday’s pre-Budget report. Standard Life announced it was to be the first provider to withdraw its PTA product following the Government’s confirmation that […]
Commission Round Table report by Sam Shaw
75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]
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Sims Financial Planning has become the third adviser acquisition this year for consolidator Fairstone. Three staff will join Fairstone, bringing funds under management to more than £90m along with total fee income of almost £500,000. Sims is the latest firm to be fully acquired by Fairstone after joining its downstream buyout programme in July 2015. […]
Aim listed advice and investment firm Harwood Wealth Management has continued its run of acquisitions with a deal to buy an Ascot-based retirement advice specialist. Harwood has acquired the assets of Plan65 for up to £1.56m depending on performance, with an initial payment of £810,000 coming out of Harwood’s existing cash reserve and the rest […]
Old Mutual Wealth is expecting to list on the London Stock Exchange as Quilter on 25 June, according to an investor prospectus, as the chief executive of parent company Old Mutual has resigned. Bruce Hemphill, who has been Old Mutual group chief executive since November 2015, resigned from the boards of Old Mutual Group and […]