This week’s profile takes a look at Praemium, the Australian platform provider that saw 136 per cent revenue growth in its UK business in the second half of 2015. Praemium launched in the UK in 2008 but subsequent assets under administration growth has been modest. It tells us, however, it has ambitious plans to grow […]
The FCA is facing pressure to ramp up its efforts to investigate advisers’ due diligence processes after almost two years of work culminated in a report just six pages long. The regulator published the findings of a long-awaited thematic review last week which revealed concerns advisers may be failing to adequately perform checks on the platforms […]
Former shadow work and pensions secretary Rachel Reeves has lent her support to a flat-rate of 33 per cent tax relief on pension contributions. Reeves, who now sits on the Treasury Select Committee, describes the current rules as “unjust and ill-judged” for giving higher earners more relief than those on lower incomes. “The Chancellor should […]
Closed-book provider Phoenix Life says it does not consider exit charges a problem and finds “no evidence” penalties are stopping customers using the pension freedoms. The stance comes a day after Scottish Widows announced plans to scrap all exit fees on workplace pensions and Money Marketing revealed Standard Life and Prudential have capped penalties. Phoenix […]
Artemis managers James Foster, Mark Page and Laurent Millet comment on the Greek deal, describing it as “just another fudge” getting in the way of bigger developments in China, the UK and the US. To read the full article click here.
The Upper Tribunal has found that Andrew Tinney, the former chief operating officer of Barclays Wealth, breached his obligation as an approved person to act with integrity. The update published on the FCA’s website today explains the reasons for the publication of the ruling. In March 2012, Tinney received a document which contained critical findings […]
‘Scheme pays’ can take the sting out of annual allowance tax charges, but scheme members must move quickly to take advantage With more than five months to go, the self-assessment deadline feels like a lifetime away. But for clients facing an annual allowance tax charge for the 2018/19 tax year on their pension savings, the […]
The Financial Conduct Authority has announced six Q&A roundtable sessions to be hosted across the UK. The regulatory body will be going to Glasgow, Newcastle, Birmingham, London, Manchester and Newport. Each event, titled “ask the regulator”, will be 90 minutes long and will feature FCA and industry representatives. According to the FCA, the sessions are […]