The Thoresen review is to pilot generic financial advice in the North-west, London, Staffordshire and South Yorkshire from September 17. It will aim to provide non-regulated advice or guidance on tax and benefits, saving and retire-ment planning to 5,000 consumers on the phone, internet and face to face.
Investec Bank Switzerland has announced the appointment of Oliver Betz as the bank’s new general manager.
New rules are being proposed to deal with the issue of insurance contracts and disclosure
It seems that the Financial Ombudsman Service continues to fine advisers for shortfalls that are caused by regulatory-imposed projections, that is, that were imposed on the adviser and the provider by the regulator. The FSA may not now be continuing with this Lautro practice but the FOS still perpetuates this injustice. An example is the […]
Northern Rock has issued a stock exchange announcement following the news that it has asked the Bank of England to provide it with emergency funding.Shares in the lender have plummeted by 24 per cent after the decision was confirmed last night.In the announcement, Northern Rock says that if the current market conditions remain until the […]
According to our recent report on the death of retirement, changes in workplace pension provision mean that coming generations of retirees could have a radically different experience of retirement from their parents. The average contribution rate into an old-style final salary pension was around 20 per cent of total wages, the statutory minimum for a […]
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BMO Global Asset Management fund manager Robert Burdett has more than halved the exposure to passive funds in most of the multi-manager funds amid fears of a bubble in the market. Burdett, who co-manages the £1.2bn F&C MM Navigator Distribution fund with Gary Potter, says the team has been cutting exposure to passive funds across […]
Opinion differs as to what has caused the advice gap. Some believe the move from commission to fees has made advice unaffordable for the mass market, with advisers having to focus on wealthier clients for commercial reasons, while others say the trend was happening anyway, regardless of the RDR. For Simplified Money director Lesley James, […]
Sales of protection policies are back at peak levels, with the sector growing by more than 20 per cent in the past year, despite adviser complaints over protection’s lack of popularity. According to the latest figures from Equifax Touchstone, sales of protection policies surpassed £149m between July and September this year — their highest level […]