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7IM offers direct platform for orphan clients

7IM has launched a direct platform for orphan clients who no longer have an adviser. The wealth manager says it was seeing demand from orphan clients and did not want to turn them away if they ceased to have a relationship with their adviser. The fee structure is the same as for its advised clients, […]

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Aldermore management probed ahead of float

The Prudential Regulation Authority investigated the management and governance at Aldermore ahead of the challenger bank’s plans to float the on the stockmarket. The Financial Times reports the regulator launched a review of the bank’s governance last year after chairman Sir David Arculus left the company in 2013. Sources have told the newspaper the regulator […]

City

Deutsche Bank faces record $1.5bn Libor fine

Deutsche Bank is set to be hit with a fine worth more than $1.5bn(£1.02bn) in what would be the biggest penalty imposed for manipulating Libor. The German bank is in negotiations with agencies in the UK and US to settle the allegations in which a Deutsche Bank subsidiary could also plead guilty as part of a […]

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Insolvency Service: Drawdown pensions out of scope for debt collectors

Savers with drawdown accounts will not be forced to increase the amount of income they take in the event of bankruptcy, the Insolvency Service has confirmed. In March, the Government said “undrawn” pensions were out of debt collectors’ reach. But the definition of undrawn was not made clear. However, in an email seen by Money […]

Three catalysts for European equities

By Rob Burnett, Manager of the Neptune European Opportunities Fund In recent weeks, the bear case for European equities has become more pronounced on the back of weaker-than-expected GDP data and deflation concerns. This softening in economic momentum has led some investors to question whether the ECB is behind the curve and indeed whether it […]

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