The Financial Ombudsman Service has ordered Intrinsic to compensate investors for “unsuitable” investment advice. In a final decision notice from September, published this week, the FOS said Intrinsic failed to assess client risk properly and recommended unsuitable funds. In 2007, Mr and Mrs D were recommended investments by an Intrinsic adviser but the meeting was not […]
The Government has begun sending new annual tax summaries which explain how individuals’ tax is calculated and what it is spent on. From today, over 24 million people will receive the statements, which were first announced by Chancellor George Osborne in his 2012 Budget. The summaries will show how much income tax and national insurance […]
Hacks at WSJ sister title Money Marketing are used to receiving holiday-themed press releases – so much so that competitions are regularly held to find the cheesiest attempt to catch the interest of journalists desperate to fill column inches. Friends Life is the undoubted winner of the latest round of Halloween-inspired campaigns. The company’s email […]
The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.
The national news agenda has been dominated by pension issues this month. For those that missed it (and there cannot have been many given that this was the lead story in spoken and written media), the Chancellor announced a decision to make no decision on pension tax relief in his 16 March 2016 Budget speech. To […]
The Financial Services Compensation Scheme has said it is committed to stopping so-called “phoenix” firms dumping liabilities on the lifeboat fund through a strategy it is calling “prevention as well as protection”. Earlier this year, the FSCS conducted research as part of an internal policy paper on the issue of phoenxing, where financial advisers elect […]
This year has been a disappointing one for European equities Year-to-date, the FTSE Europe excluding UK index is down 5.2 per cent. This compares with a 6.5 per cent gain by the S&P 500 and a 5.4 per cent fall by the FTSE All-Share (all in sterling terms), according to FE. This performance has not […]
I recently gave a money-related talk in India. The audience comprised 80 young Indians, aged 22 to 30, attending a two-day event at a five-star beach resort, which had been organised by the firm that manages their parents’ wealth. Speakers included experts in a range of subjects, from philanthropy and business innovation, to personal development, […]