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.
A weekly account of the curious goings-on in the world of financial services from Money Marketing’s diary page Green with envy While scouring through the MPs’ Register of Interests last week, one WSJ correspondent took to reading the fine print of Treasury committee member John Mann’s file. Among the list of international trips undertaken by […]
Long-awaited guidance clears up confusion around the IHT position of policies issued under seal Life assurance protection is an often overlooked estate planning tool. For UK-domiciled individuals, effecting a policy subject to a trust can deliver a neat, effective way of sorting inheritance tax liability that cannot be diminished through other planning. It can also […]