View more on these topics

Standard Life’s 1825 turns to FCA for robo-advice help

Finance-Concept-Technology-Brain-Money-700x450.jpgStandard Life owned national advice firm 1825 is among a number of firms to approach the FCA for help developing a robo-advice proposition, the regulator has revealed.

In a note this morning, the FCA published the names of the second round of firms to join its Advice Unit – the team set up in the wake of the Financial Advice Market Review to assist firms looking to work on automated advice and discretionary investment management models.

1825 joined, Investec Click & Invest, Moneyfarm and four others in the cohort that entered the Advice Unit earlier this year.

1825 has been approached for comment on the type of service it is looking to build.

FCA ‘won’t wait for FAMR’ as it plans robo-advice unit launch

The second group built on the 10 firms that were accepted last year, including banking giants HSBC, Lloyds Banking Group and Santander.

The remit of the Advice Unit is also becoming wider, the FCA announced, as it prepares to accept mortgage, general insurance and debt advice firms, as well as firms looking to provide guidance as opposed to a full advice service.

The FCA is now taking firms on a rolling basis rather than in cohorts.

The regulator plans to give firms feedback on their propositions with a view to making tools and information available more publicly after.

FCA executive director of strategy and competition at the Christopher Woolard said: “The Advice Unit’s initial work, including the support it has provided to firms, has shown its potential and the changes announced today present a further opportunity to widen consumer access to financial advice and guidance across a broader range of sectors.”


Coutts plans simplified advice service

Coutts, the 325-year old private bank, has confirmed it is eyeing the launch of an automated advice service aimed at the pension and retirement market. Camilla Stowell, the head of Coutts International and Coutts Private Office tells Money Marketing the Queen’s bank, which has recently launched an online investment hub for its clients, is working […]

Tapering of annual allowance – adjusted and threshold income

The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing.  Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016.  Our previous article Tapering of annual allowance […]


Guide: reporting to the Pensions Regulator — what and when?

Johnson Fleming has published a step-by-step guide demonstrating the importance of record keeping and reporting, and how it can ensure you operate a successful scheme. The guide takes you through some key questions you need to ask and identifies the information you need to obtain. The topics include: why you need to keep records and the benefits of doing this; registering your scheme; what information you need to record to ensure you meet the Pensions Regulator’s requirements; and what items need to be recorded and when.


News and expert analysis straight to your inbox

Sign up


    Leave a comment