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.
Former 1825 executive and financial planning director Ian Howe has launched his own firm under the Best Practice network after exiting the Standard Life Aberdeen-owned advice arm 12 months ago. Howe’s Windsor-based firm, Druthers Financial Planning, was set up last October and is still in its early stages. According to the FCA register, Howe is […]
A weekly account of the curious goings-on in the world of financial services Do you hear what I hear?WSJ knows that many an interesting piece is part of the wider puzzle that makes up how a financial services company markets itself. In the case of HSBC, this includes music. While browsing around on Twitter this […]
Lloyds Bank and Schroders have appointed a nine-person executive team under incoming chief executive James Rainbow for their advice joint venture, Schroders Personal Wealth. Rainbow’s position, along with that of Scottish Widows chief executive Antonio Lorenzo as chair, were revealed last October. The executive team are internal hires from the two companies: Executive Former position […]