The number of people using the pension freedoms to access their retirement pots dropped 13 per cent in the second quarter, but concerns remain the annuity market is continuing to fail consumers. FCA data for the three months to September 2015 reveals 178,990 pensions were accessed in the second quarter of the freedoms, down from […]
Just 8 per cent of financial advisers are planning new services for mass-market consumers in 2016, according to Sesame Bankhall. In a survey of 222 financial advisers, Sesame found the overwhelming majority who are not intending to launch new services for lower wealth customers blame liability issues. Some 94 per cent say there needs to […]
Prudential has appointed John Foley as chief executive of its UK and Europe business and made him an executive director of the group. Foley, who has held the role on an interim basis followed Tidjane Thiam’s departure in 2015, joined Prudential in 2000 as deputy group treasurer. He subsequently held positions including group treasurer, group […]
Aberdeen Asset Management has topped Tilney Bestinvest’s Spot the Dog list of underperforming funds with 18 funds. The list, which identifies funds that have underperformed for three consecutive years and by more than 10 per cent over three years, includes Aberdeen’s £1.1bn Asia Pacific Equity fund and 10 other from the group. However, Aberdeen is also the underlying manager of […]
In the run-up to the Budget, there was some concern that the chancellor might ‘call time’ on the use of salary sacrifice in employee benefits provision.
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