Lloyds plans to hire 700 wealth advisers in its new business JV with Schroders. Much speculation about whether the business will seek to emulate SJP. It will be very interesting to see how this develops and whether it can plough its own but still profitable furrow.
Three fund managers see FCA action over coordination of their strategies involving an IPO. Interestingly the fund management business not fined is Newton where, it seems, the fund manager was working.
The FCA is making much of this being a use of its competition powers.
Big news from the US where the majority of US fund managers are embracing sustainable investment strategies according to Corporate Adviser.
The research is by Bloomberg and Morgan Stanley. Perhaps we have reached a tipping point? Eight out of ten managers say an ESG approach strengthen returns.
Adviser Leodis chief executive Simon Cocking is now very worried about the UK’s constitutional crisis. His frustration with politicians is palpable.
Scion of the investing dynasty – and great grandson of the founder - Bruno Schroder has died at 86 following a short illness.
Consultant Abraham Okusanya has questioned the approach of using different buckets in drawdown and says a centralised retirement proposition must really be about the approach to retirement advice and its suitability.
Marcel Bradshaw of Orbis warns that advisers are not yet using MiFID II to quote fees. It all sounds like a bit of a mess given where the responsibility rests for the quality of information advisers are receiving and disclosing to clients.
Neil Woodford’s fund has been boosted by the bid for Provident Financial, FTAdviser reports.
The High Court has given permission to the administrators of failed firm Pritchard Stockbrokers to distribute £23.5 million of client assets, bringing a six-year saga to an end. Citywire notes that the administrators have received £6.4 million in fees.