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Steve Webb admits Govt should have banned consultancy charging earlier

Pensions minister Steve Webb says the Government should have acted to ban consultancy charging two years ago and admitted it was late to clampdown on charges ahead of auto-enrolment. Speaking at a Standard Life fringe event on pensions at the Liberal Democrat conference in Glasgow today, Webb said he was “gobsmacked” at the lack of […]

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OFT proposes ban on ‘built in’ adviser commissions for auto-enrolment

The Office of Fair Trading has recommended banning pension schemes with “built in” adviser commissions or active member discounts being used for automatic enrolment. The OFT’s study into the workplace defined contribution pension market, published this morning, sets out concerns over the £30bn of savings held in old, high charging schemes and the £10bn currently […]

People on the move

John Beale has left the role of training and competence director at IFA network Pi Financial. He joins Brewin Dolphin in December as regional training & competency manager. Former Towry director Gauis Jones has joined Ashcourt Rowan. Jones, who spent 14 years with Towry, has replaced Chris Williams as chief executive of Ashcourt Rowan’s financial planning business. Lift […]

AFH Financial looks to raise £750k through bond issue

Financial adviser and discretionary fund manager AFH Financial Group has launched a bond issue to raise £752,000 to fund future acquisition deals. The firm announced this week it had launched the unsecured bonds, which will pay 8 per cent and will be traded on the Icap Securities and Derivatives Exchange. ISDX is a London-based stock […]

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