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 […]
It goes without saying Brexit has overshadowed much of the usual business of government. The bold vision of domestic policy reform Theresa May set out on the steps of Number 10 on her first day in office in 2016 has been reduced to a sideshow at best, as she grapples with the all-consuming endeavour of […]
With so many firms struggling to hire talented advisers, should the place where candidates have trained determine the kind of advice they give? The number of pathways into the advice profession has increased significantly over the past decade in a bid to encourage new talent. Coupled with the rise of vertical integration and increased competition […]
Statistics from the final quarter of last year suggest pension transfer activity has passed its high-point, with the FCA’s focus on the market forcing advisers out of play. AJ Bell cites government figures showing that transfers dropped 20 per cent between October and December 2018, down to £6.3bn from £8bn. AJ Bell senior analyst Tom […]