The Financial Ombudsman Service has seen an 66% increase in fraud and scam complaints in the first quarter of the 2021/22 financial year.
This is a rather grim figure given the attention that policymakers and regulators are giving to the issue. A couple of weeks ago, the FCA published a paper outlining all of its extensive work to frustrate scams and misselling.
It actually made an impressive list, but it still seems that things are getting worse. Should we accept this terrible level of scams as endemic?
The Pensions Regulator has told the trustees of smaller defined contribution pension schemes they must either demonstrate they provide value, or wind up.
TPR will bring in new regulations from 1 October including more rigorous value for money assessments.
Kingswood has completed the acquisition of North Lincolnshire-based financial advice firm Admiral Wealth Management for £4m and is targeting nine further deals.
Simon Evan-Cook, a fund-of-funds manager at Premier and now an independent fund analyst hits out at the more evangelical of the passive advocates, suggesting they are mistaken when they say “it’s mathematically impossible for the average fund, or even the average investor, to outperform.
Evan-Cook says this assumes that funds, or investors, are normally distributed by size.
“But this isn’t true: markets consist not just of the handful of whales that make the headlines, but swarms of plankton too. This wildly uneven distribution matters,” he says.
Almost half of currently furloughed workers have changed their retirement plans as the government’s furlough scheme comes to an end this month, as Corporate Adviser reports.
Research by Canada Life found that 28 per cent of workers on furlough plan to retire later than previously planned and a further 18 per cent will now retire earlier.
Uber partners with Now Pensions to provide pensions for its drivers following various court challenges which saw those workers deemed to be employed.