The PFS is there to improve the standards of knowledge and conduct of its members. A major part of this is the code of ethics and conduct. We are considering CPD for the PFS – should ethics be part of this and, if so, in what form?PFS members should have received a copy of the CII and PFS code of ethics and conduct. The code contains a statement of key values: responsibility, integrity, professional competence, due care, professional standards, confidentiality, objectivity and avoiding conflicts of interest. The code spells out a number of areas where the principles should be carried into effect. For example, members must maintain the trust of their clients, giving fair and proper consideration to their interests, acting with due skill, care and diligence and in an honest manner. There are provisions about not making improper use of information, seeking to be responsible, being open fair and respectful to other employees, colleagues, customers and suppliers. All should be treated with equal respect. Every opportunity should be taken to improve professional capability, knowledge and skills. All members should comply with the CPD scheme. Employers should not penalise employees for raising matters for ethical concern. It is clear that the law must be respected at all times. Relations with the public are highlighted.Members should seek to advance the reputation of financial services through their own conduct. There is a requirement in the section on relations with the CII to ensure a transparent relationship between members and their professional body. I would commend this code to every member. If you have any comments on areas where you think there should be some ‘best practice’ guidelines to amplify this Code, then write to the editor. John Ellis is public affairs director of the Personal Finance Society
Insight Investment, the asset manager of HBOS, has received A ratings for seven of its multi-manager funds, from Old Broad Street Research.OBSR gives the rating one year after Insights fund management team was put in place, founded following research conducted in December 2004.The seven funds receiving the A rating are the Insight Investment wealth builder […]
Speaking at the FSA retail intermediaries sector confer-ence in Solihull last week, Aifa director of policy Fay Goddard said any professional certification would be hard-earned and not necessarily for everyone but would raise an IFA to the status of an accountant or lawyer.
The Invesco Perpetual Aim VCT is to close early to protect existing investors, having raised 9.86 million and invested in 32 companies to date.The NAV of the VCT at February 28 20005 was 118.66p per share, compared with the current subscription price of 1 per share. The fund is managed by Andy Crossley.
The Pensions Reform Group, founded by Labour MP Frank Field, has attacked the concept of a 105 a week citizen’s pension as a derisory benefit that will leave pensioners in poverty.
Many commentators have suggested the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Neptune Head of European Equities Rob Burnett discusses the likelihood of this happening. Click here to read more Important informationInvestment risks Neptune funds may have a high historic volatility rating and past performance is […]
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]