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City

Deutsche Bank faces record $1.5bn Libor fine

Deutsche Bank is set to be hit with a fine worth more than $1.5bn(£1.02bn) in what would be the biggest penalty imposed for manipulating Libor. The German bank is in negotiations with agencies in the UK and US to settle the allegations in which a Deutsche Bank subsidiary could also plead guilty as part of a […]

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John Lawson: A spanner in the works for DB transfers

The Government was keen to allow those with defined benefit pensions access to the same freedom and choice as those with defined contribution savings. That is why we have new rules that allow transfers to proceed once a member of a DB scheme has received advice. However, the planned reduction of the lifetime allowance from […]

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Sue Whitbread: Don’t forget the paraplanners

Advisers and planners do not need to be reminded to fulfil CPD requirements if they wish to retain their Statement of Professional Standing. Making sure an effective training and competence plan is in place is a key part of successful business practice. But what about paraplanners? How many firms include paraplanners and support staff in […]

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Drawdown customers risk losing out from ‘mortality drag’, report warns

Advisers must explain how ‘mortality drag’ means funds in drawdown must produce increasingly higher returns to match an annuity, a report claims. The paper, written by Retirement Intelligence director Billy Burrows for Partnership, warns that the “invisible force” of mortality drag means drawdown becomes less attractive relative to an annuity as a customer ages. Mortality […]

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