Standard Life says its string of distribution deals is behind a 10 per cent increase in UK life and pension sales for the first six months of this year.UK life and pension business increased to 459m from 417m last year. Standard, which says it is on course to demutualise next year, saw a 22 per cent rise in group pension sales from 178m to 217m. The firm emphasises the importance of its distribution alliances with firms such as Barclays, Thinc Destini, National Australia Bank, Lighthouse, Fidelity FundsNetwork and Sesame and its recent minority shareholding in Tenet. Standard Life Bank profits rose from 6m to 9m but Standard Life Healthcare new business sales fell to 11m from 17m.
New Star’s fund of funds has invested in another New Star fund for the first time, almost doubling its size and further fuelling float speculation. The fund of funds team, led by Mark Harris, has put more than 15m into Guy de Blonay’s global financials fund, taking its assets under management to just over 36m. […]
Fundsdirect founder Sean Ewing is set to float his latest venture, hedge fund firm Absolute Capital Management, on Aim in the next two months. Absolute chief executive and chairman Ewing, a founding investor in the firm, is looking to raise 1.7m-3.4m to fund acquisitions and plans to attract and retain top hedge fund managers through […]
A Government report is calling for finance to be embedded in school curriculum subjects but has ruled out the need for an urgent financial education programme for adults. According to a review conducted by Ecotec Research and Consulting on behalf of the Department for Work and Pensions, the non-compulsory status of financial education means that […]
New investors in the buy-to-let sector have halved in the past year, according to figures released by Mortgage Trust, but brokers say established landlords are ensuring that the market remains fluid.
By Jamie Clark, Business Development Manager We take a look at the Pensions Regulator’s latest auto enrolment compliance bulletin and the lessons that can be learned from it. With up to half a million smaller employers expected to reach their staging date during 2016, it’s likely that the Pensions Regulator (and the rest of the […]
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National advice firm LEBC has acquired Bristol IFA Aspira Corporate Solutions for £5m in cash and shares. Aspira has nearly £0.5bn in assets under advice, 50 staff and more than 11,000 clients. Aspira chief executive Derek Miles will join the LEBC senior management team. LEBC says the acquisition will “increase turnover significantly”. LEBC chief executive […]
AJ Bell saw assets under administration increase by 25 per cent to £39.8bn in 2017 for the 12 months ending 30 September 2017. In 2016 AUA was £31.8bn. The business also reported a 29 per cent increase in profit before tax to £21.7m (2016: £16.8m). AJ Bell says the increase in AUA was largely driven […]