How to create a blog in 7 easy steps. Get my FREE Online Video Workshop at: http://howto-startablog.net
Friday, 27 February 2015
Labour under fire over pensions tax raid plans
Labour’s plans to cut lifetime and annual allowances for tax-free pension savings have been slammed by the industry.
L&G pensions director Adrian Boulding exits
Legal & General pensions strategy director Adrian Boulding is to leave the insurer in August as the exodus of senior pensions staff continues.
L&G pensions director Boulding exits
Legal & General pensions strategy director Adrian Boulding is to leave the insurer in August as the exodus of senior pensions staff continues.
Old Mutual Wealth post £227m profit as sales rise 11%
Old Mutual Wealth has posted a 5 per cent increase in adjusted operating profits, from £217m to £227m, as sales surged to £16bn.
FCA reveals pension freedoms 'second line of defence' rules
Providers must provide customers with personalised risk warnings under rules published by the regulator today.
ScotWids plans £10k minimum for non-advised drawdown
Savers with more than £10,000 in their pension pots will be able to enter into a Scottish Widows drawdown contract without an adviser.
Experts warn over 'misleading' Rightmove Sipp promotion
Promotional Sipp email branded ‘misleading’ by experts.
MP warns protection damaged by 'toxic' reputation
Protection products are being harmed by consumer distrust following the PPI scandal according to Jonathan Evans MP.
Thursday, 26 February 2015
Is the 'pensioner bribe' behind £1.3bn fall in fund flows?
Are pensioner bonds behind the £1.3bn fall in January retail fund flows?
Old Mutual risk-targeted Spectrum range undershoots volatility and returns
The £2.25bn Old Mutual Spectrum range of risk-targeted funds has undershot volatility benchmarks and FE’s risk-targeted sectors since launch.
Drawdown continues to eat into annuity sales
Drawdown sales have more than doubled year-on-year, while new annuity business has crashed 64 per cent, latest ABI stats show.
Advisers criticise FSCS over 'unfair' Sipp stance
FSCS will levy advisers for investment failures as part of claims about Sipp advice.
Zurich launches target-date funds to meet post-freedoms demand
Zurich is offering occupational pension customers 12 new target date funds to meet changing appetites ahead of the new freedoms coming into force.
Zurich launches target-rate funds to meet post-freedoms demand
Zurich is offering occupational pension customers 12 new target date funds to meet changing appetites ahead of the new freedoms coming into force.
January retail fund flows crash more than £1.3bn to £320m
Net retail sales slumped more than £1.3bn last month, with net retail sales totalling just £320m, according to the latest Investment Association figures.
SFO launches criminal investigation into green investments
Global Forestry Investments and Global Forex Investments promised returns of 10 per cent from investments in teak plantations.
Wednesday, 25 February 2015
Asset Allocation: Goldman Sachs AM moves from US to Europe
The Goldman Sachs Wealthbuilder Multi-Asset Growth Portfolio has hedged its interest rate risk and recently stripped down its commodities exposure.
Tuesday, 24 February 2015
FTSE 100 posts new record at 6,949
The FTSE 100 has finally beaten its 1999 record, closing today at 6,949.63
Wonga to cut 325 jobs as part of cost cutting drive
Payday lender is halving the number of support staff currently serving its UK business.
Cherry picking and systemic weaknesses: Why Aviva Investors was fined £17.6m
Aviva Investors’ systems were open to abuse by traders, regulator finds.
Phoenix boosts with-profits annual bonus payouts
More than 77 per cent of policies receive annual bonus.
Regulator unveils payday lending clampdown
Government body says lack of comparable data and competition has led to higher borrowing costs.
Monday, 23 February 2015
Zurich pays 93% of IP claims
Provider paid out £11.8m in IP claims last year, down from £12.3m in 2013.
Labour 'could cut lifetime allowance to fund tuition fee cuts'
Opposition is said to be eyeing a reduction in the annual or lifetime allowance to reduce tuition fees from £9,000 to £6,000.
Nutmeg sets personal pension charges starting at 0.3%
Discretionary manager launches personal pension with £5,000 minimum investment.
Saturday, 21 February 2015
Government borrowing surplus hits 7-year low in January
Government accounts show a surplus of £8.8bn lst month.
Friday, 20 February 2015
Govt confirms extension of annuity death benefit changes
Nominees and successors will be able to use untouched pension savings to buy an annuity.
CII overhauls qualifications in line with pension freedoms
The CII is to offer a new unit to train advisers on pension freedoms as soon as rules are finalised.
Govt opens married tax break registrations
Married couples can now register with HMRC to take advantage of a new tax break.
Steve Bee unveils new auto-enrol compliance offering
Steve Bee has launched a new administration system designed to enable accountants to help small businesses comply with their auto-enrolment duties.
Thursday, 19 February 2015
Commercial broker investigates employee over Chelsea racism claims
Josh Parsons, 21, works for The Business and Commercial Finance Club in Mayfair.
FCA backs EU dealing commission clampdown
The regulator has lent its support to new rules barring investment firms from using dealing commission to pay for research.
Calls for FCA to be more open on compliance guarantees
Regulator has published data on its use of attestations for the first time.
Slow start to 2015 with lending down 11%
But trade body has not changed its forecast of £222bn of lending for this year.
Adviser clashes with Pru over client contact
Adviser claims provider contacted his client after receiving a letter of authority from his firm.
Aegon earnings up 37% but life business slumps by a quarter
Aegon UK’s pre-tax earnings grew 37 per cent year-on-year despite the firm’s life business being hit by the costs of complying with Solvency II regulations.
FCA under pressure to water down 'second line of defence' rules
Exclude small pots and Pension Wise users from additional protection requirement, says The People’s Pension.
Wednesday, 18 February 2015
Govt urged to mandate advice before savers cash in pension guarantees
Members need to be protected from giving up valuable benefits.
Advice firm LEBC posts £1.1m profit
Company warns opportunities created by pension freedoms could be stunted by lack of “high calibre” advisers.
Only 10 active cases left as Keydata battle hangs in the balance
FSCS has spent £15.8m on Keydata battle with advisers.
FSCS settles with lead defendants as Keydata battle hangs in the balance
FSCS has spent £15.8m on Keydata battle with advisers.
Hargreaves introduces drawdown exit penalty in pricing overhaul
Hargreaves Lansdown will hit savers who attempt to withdraw their entire pension fund within 12 months of opening an account post-April with a £295+VAT penalty.
FSCS to pay out for failed investments on Sipp advice claims
Lifeboat scheme will now pay compensation for investment losses as well as lost growth and charges.
Tuesday, 17 February 2015
ONS: House price inflation slows again
UK house prices grew 9.8 per cent year-on-year in December 2014.
Friends Life backs Steve Webb's pension tax relief reform plan
Minimum employee pension contributions should rise to 6 per cent, insurer says.
Fund managers ditch US for Europe on QE 'exuberance'
Global fund managers are selling US equities to buy up European companies in the second-highest allocation ever ahead of the continent’s QE, a Bank of America Merrill Lynch survey shows.
Creative Auto Enrolment links with ScotWids on new compliance offering
Employee benefits firm Creative Auto Enrolment has launched an end-to-end online auto-enrolment service that promises to cut preparation time down to just 103 seconds.
'Massive disparity' in pension modelling tools risks confusing customers
Investment returns range from below 1.5 to 7 per cent.
Virgin Money publishes broker manifesto
Lender outlines how it will work with brokers in the future, including promise not to dual price and to give 24 hours notice before pulling products.
Inflation slides to lowest annual rate on record
Inflation has fallen to the lowest 12-month rate on record according to figures released by the Office for National Statistics.
Citizens Advice recruits second wave of guidance staff
Citizens Advice says it has recruited 150 Pension Wise staff so far.
Monday, 16 February 2015
Mutuals' market share dips despite gross lending increase
Building societies advanced £52.6bn in 2014, up 4.4 per cent from a year earlier.
Neptune's Geffen calls out FCA over active share debate
Neptune chief executive Robin Geffen has called on the regulator to force managers to disclose their active share to weed out index huggers because otherwise it is unlikely to happen.
CBI boosts UK growth forecast on inflation slip
British industry is set to benefit from falling energy prices, according to the CBI.
500 EEA investors join £60m legal claim against FCA
Group prepare to take the claim to the European Court of Human Rights.
Injured policewoman latest Seven Families campaign recipient
Nikki Thornley was forced to leave her role in the Scottish police force following a motorcycle accident in 2013.
Friday, 13 February 2015
Lloyds Bank slashes remortgage rates by up to 0.2%
Remortgage customers also receive £500 cashback on completion.
Friends Life reveals with-profits investment performance
Friends Life has revealed the performance of its three main with-profits funds, representing around 750,000 policyholders.
More savers ditching annuity guarantees for cash post-Budget
Number of customers with guaranteed annuity rates cashing out doubles since Budget.
FCA publishes first data on compliance guarantees
Data shows attestations are being used among firms of all sizes.
Unbiased winners talk promoting pension freedoms and sensible financial planning
The winners of the Unbiased Media Awards on communicating with clients and making time for the media.
Merkel says Greek 'compromise' deal possible
German Chancellor says she will aim to reach deal on terms of Greek bailout.
Thursday, 12 February 2015
Dilnot reforms fail to spark long-term care market
But pension reforms could be extended to boost incentive to save for care, say providers.
Experts brand Pension Wise website 'misleading'
Guidance guarantee website criticised for misleading technical details and poor signposting to advice.
Carney warns of potential future rate cuts as deflation looms
BoE says inflation could turn negative in Spring before recovering to zero later this year.
Zurich UK profits up 6% as sales rocket
Zurich profits up 6 percent despite sliding new business margins.
Wednesday, 11 February 2015
Govt 'guidance guarantee' website goes live
Government’s retirement guidance site takes user through six steps.
Old Mutual partners with D2C fund analysis start-up
Old Mutual Wealth has signed up to a new web-based system that will make it easier for investors to track the performance of their investments.
FCA mulls salary clawback for rogue bankers
Regulator “sympathetic” to idea of going beyond clawing back bonuses from bankers guilty of wrongdoing.
JPM's Bill Eigen buys up high yield like 'used cars'
JP Morgan Income Opportunity fund manager Bill Eigen has plunged into high yield and Venezuelan debt on overdone oil price fears.
Tuesday, 10 February 2015
Better Retirement founder Tim Eadon exits to launch new advice firm
Directors Simon Whitehead and Stuart Bayliss take over.
London Stock Exchange Group to sell Russell Investment Management
London Stock Exchange Group has confirmed it will jettison the Russell Investment Management business it acquired as part of last year’s $2.7bn (£1.77bn) purchase of the Frank Russell Company.
Wheatley: 'Second line of defence' rules won't be published until March
Pensions providers will have to wait until March to receive final rules on the information they must give to customers looking to access their funds under new freedoms.
Attivo acquires Reading-based advice firm for undisclosed sum
Wealth management firm Attivo has acquired Reading-based advice firm Sanderson Financial Consultancy.
Monday, 9 February 2015
Woodford: Forcing Greece to repay its debts is 'almost sadistic'
UK equities manager Neil Woodford sympathises with Greece’s new government over its lumbering debt burden and crushing austerity.
Kames to launch new absolute return fund after first gets too large
Kames Capital plans to launch a second absolute return government bond fund after its first became too large to market.
Intrinsic launches multi-million pound practice buyout scheme
Scheme will offer loans and introductions for ARs looking to make acquisitions.
Aegon and Zurich eye sale of 7IM
Aegon and Zurich Insurance Group are angling to sell wealth manager 7IM, according to the FT.
Friday, 6 February 2015
Advisers warn savers at risk after Govt eases DB advice rules
Transfer value risk underselling value of defined benefit pensions.
ABI calls on Govt to allow transfers out of high charging pensions
Trade body says the Government “must be bold” to tackle pension charges.
Thursday, 5 February 2015
FCA could extend governance requirements to individual pensions
Experts warn move could create two-tier market.
Axa Life launches inheritance drawdown option
Option allows policyholders to protect the amount they pass onto dependents if they die before 75.
Wednesday, 4 February 2015
State Bank of India opens its doors to brokers
Indian lender re-entered the UK buy-to-let market last year, after an 18-month absence.
Post-RDR 'primary' share class comparisons tweaked by IA
Fund performance should be judged on the most expensive share class available through third party distributors, the Investment Association says.
Ashcroft poll: Labour could be wiped out by SNP in Scotland
Senior Labour and Lib Dem MPs under threat.
Tuesday, 3 February 2015
Ex-Burns Anderson chief appointed head of sales at new Novia platform
Internal platform Novia Global due to launch in Q2.
FCA warns crowdfunders over disclosure failings
Peer to peer lenders and investment-based crowdfunding businesses have been “cherry-picking” information to pump up the benefits and downplay their risks, an FCA review says.
Monday, 2 February 2015
FPC handed power to cap LTVs
Treasury finishes its consultation and gives FPC power to cap LTV and debt-to-income ratios.
LV= Sipp and drawdown growth stems annuities decline
Provider recruits 70 extra support staff to boost adviser support.
Subscribe to:
Posts (Atom)