Schroders, which is selling its investment banking business to Citigroup, is putting aside £200m to establish a private banking arm of its asset management business.
Schroders is also saving a “three figure” sum for establishing a new strategy to co-invest in the group's products.
But the markets reacted cautiously to the organisation's global plans as shares sank 78p to £12.36 yesterday.
Scottish Equitable owner Aegon UK is to sponsor a Scottish charity spectacular featuring world famous tenor Jose Carreras.The opera singer's December 8 appearance, in the inaugural concert at the newly refurbished Usher Hall, Edinburgh, is aimed at raising money for Leukaemia. It will be the first time in nearly 20 years he has performed in […]
Clerical Medical is predicting a massive cull in the number of IFA firms operating in the UK, believing the number will be nearly halved in three years. The company claims the current 4,500 IFA firms will be slashed to 2,500 by 2004 as firms either go out of business, consolidate or tie with providers. The […]
Financial adviser Grant Thornton is claiming small company workers left out of the stakeholder should act now to organise their future provisions.From April 2001 the stakeholder will have to be offered by companies with five whi employees or more.About 750,000 employees will be left to sort out their own financial affairs.GT has issued advice for […]
The Government is stepping up pressure on banks to help poor families manage their money.In a speech to the Chartered Institute of Bankers, education and employment secretary David Blunkett is set to ask banks to support initiatives to combat poor financial planning.Blunkett is also expected to call for more support for the Money Advice Trust, […]
Jim Grant – Senior Product Insight & Technical Support Analyst We look at how higher DB transfer values could cause a lifetime allowance issue and how that affects the advice process. Advisers are receiving an increasing number of requests from clients looking to transfer their pension from final salary schemes to personal pensions. This is a […]
News and expert analysis straight to your inbox
Sign up
Prudential and Old Mutual are among four providers to have avoided sanctions from the FCA as the regulator completes its investigations into firms’ closed-book practices. The FCA has finally ended its inquiry, more than two years after it originally reviewed 11 providers over how they treated longstanding customers. The regulator expressed particular concerns about failures […]
Advisers will not be eligible to become shareholders in AJ Bell when it floats unless they are a customer of a business, the platform has said. The business is preparing to list on the main market of the London Stock Exchange either in December or early 2019. As part of the listing, AJ Bell is […]
Paraplanning firm Heather Dunne Consulting has gone into liquidation after its principal restricted its pension transfer permissions. Adviser Heather Dunne founded the firm in 2002 to support advisers doing pension transfers and the firm’s biggest client was HDIFA. HDIFA is also run by Dunne but was placed on voluntary suspension in July 2017 when it was […]
Comments