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Phoenix criticised for underplaying climate risk to business

Closed-book provider Phoenix and two other insurers have had a complaint to the FCA filed against them claiming they have failed to address how climate change could affect their businesses, according to reports. Phoenix, Lancashire and Admiral all do not mention climate change in their 2017 annual reports, a complaint by non-profit gruop ClientEarth seen […]

Aviva platform reports positive flows despite tech failures

Aviva says its platform business has grown despite a troubled technology upgrade that has frustrated many advisers. In its half year results this morning, Aviva says its advised platform “maintained positive net fund flows and increased assets under management despite the major IT migration project undertaken during the period”. Net flows were positive at £2.2bn, but […]

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FSCS hit with more than 200 claims over collapsed Sipp provider

The Financial Services Compensation Scheme has received more than 200 claims against the collapsed Lifetime Sipp Company in less than two months. Company data provided to Money Marketing by the FSCS showed 19 claims had been received as at 30 May. However, the FSCS confirmed this week that the number of claims has now ballooned […]

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Collapsed DFM to compensate for failing to act in client’s interest

The Financial Ombudsman Service has ruled a collapsed discretionary fund manager must compensate a client for failing to properly assess a client’s interests. Mr R’s complaint is about £45,000 of his self-invested personal pension, which was placed in Leicester-based Horizon Stockbroking. He is represented by Martin Aitken Financial Services who advised him about transferring his […]

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