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Apfa writes to Govt over ‘unjustifiable’ hike in adviser fees

Apfa has written to the major political parties to urge a rethink of what it terms an “unjustifiable” 10 per cent increase in advisers’ FCA fees. In a paper on proposed fees published in March, the FCA said A13 advisers will pay £74.9m in 2015/16, up by 10 per cent from £68m in 2014/15. The […]

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Pensions governance committees ‘retirement homes’ for industry veterans

Consumer champions have branded the new Independent Governance Committees for contract-based schemes “retirement homes for financial services executives, actuaries and investment bankers”. But providers have hit back, claiming the committees provide greater consumer protection than trust-based schemes. The requirement for governance committees to be established for auto-enrolment schemes was introduced following the Office of Fair […]

Osborne adviser set to join BlackRock

Chancellor George Osborne’s chief economic adviser ‎Rupert Harrison is in talks to join Blackrock. Sky News reports Harrison, who has led on the Government’s economic policy since 2010, is in talks with BlackRock to join the fund manager. Talks are said to be at an advanced stage but a formal announcement is understood to be weeks away. […]

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Scott Gallacher: The painful truth about insistent clients

One of the many unintended consequences of the new pension freedoms is that, while technically people can cash in their pensions, the reality is most providers are unwilling to carry the can should things go wrong. This is most problematic with defined benefits schemes, where the existing scheme will not facilitate encashment. Instead, members must […]

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