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.
Industry should focus on annuitisation as a concept rather than an annuity as a product In last month’s article, I looked at how retirement advice does not have to be black or white. There are solutions that bridge the gap between annuities and drawdown, and plenty of scope to innovate the way advice is delivered. […]
The Financial Ombudsman Service has ruled against Friends Life for giving unsuitable advice on a pension transfer from a defined benefit scheme. In the ruling Mr S complains the advice he received from Friends Life to move pension benefits from his former employer’s final salary scheme to a personal pension arrangement was not suitable. In […]
As we enter year nine of the “great recovery”, there is talk about good economic numbers amid rising levels of political risk. But just how is the world so much riskier now than in periods around, say, the Cuban Missile Crisis or the remilitarisation of the Rhineland? Not all political risks are alike, nor do […]