Sumus profits rose by 76 per cent to £1.51m last year while revenue nearly doubled to £29.8m.
Skandia has hit out at the Association of British Insurers’ call for customer-agreed remuneration to be mandatory for advisers but not direct sales, saying it is based on the self-interest of “desperate old traditional” members.Skandia chief executive of UK business Brett Williams says CAR is a fundamental principle that must apply to the whole market […]
St James’s Place saw new business figures increase 23 per cent last year from £349.1m to £428.6m. This was across all investment, pensions and protection business for the year ended December 31, 2007. New investment premiums increased 27 per cent from £186.5m to £236.0m and pensions business increased 23 per cent from £140.1m to £172.3m. […]
I am an experienced investor in my 80s but I have become concerned by recent volatility. I am mainly in income-producing funds but wonder what else I could invest in.
The Financial Ombudsman Service should not introduce an appeal process as it could undermine the service and damage its reputation, says Friends Provident.In its response to the Hunt review, Friends says while there may be value in looking at the wider implication process to ensure issues of concern can be raised, there has to be […]
By Felix Wintle, Manager of the Neptune US Opportunities Fund H1 2014 Economic data: after last year’s strength, economic data has disappointed. Indeed, the economy contracted 2.9 per cent in the first three months of the year — the US economy’s worst performance for five years. However, rather than a symptom of underlying economic weakness or […]
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Paris has beaten Dublin to swipe the European Banking Authority from London following Brexit, meaning the French capital will now host two of the three European Supervisory Authorities. An internal survey of EBA staff ranked Paris as the most desirable city to move to after Vienna, which had been a frontrunner for the authority alongside […]
Robo-adviser Nutmeg has passed the £1bn assets under management mark. The firm says it has roughly doubled both funds and client numbers since September 2016. Nutmeg now has around 48,700 customers. However, the digital wealth manager has struggled to make a profit since launching five years ago. Its 2016 losses amounted to £9.3m, up from […]
Equity release adviser Key Retirement has signed a new deal with live-in care provider Elder to give advisers more support on helping retired clients using their home to afford residential care. Key Retirement says that through lifetime mortgages with Elder, advisers will be able to offer new options for older clients wanting to remain in […]