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 […]
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The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]
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