Old Mutual makes a big decision which may have day to day implications for IFAs this week.
Old Mutual switches platform from IFDS to FNZ mid way through a huge technology project. An update says that of the expected £450 million cost of the IFDS project, Old Mutual Wealth has already spent £330 million. The FNZ project is expected to cost between £120 million and £160 million.
These are huge numbers and IFAs in the comment sections are concerned about the switching costs and whether it is their clients who will pay. A big blow to IFDS of course.
Candid Money’s Justin Modray says that IFAs have used the RDR as a excuse to jack up fees.
LV’s head of pensions Ray Chinn joins Nest.
Jargonfreebenefits boss Steve Bee suggests pension policy has lost its purpose. The system no longer inspires or motivates ordinary people, he says.
The FOS finds against a Lighthouse adviser for failing to explain a MPPI sales properly.
Philip Bray puts together six reasons to provide case studies on IFA websites.
Richard Butcher of Pitmans Trustees Ltd completes an MBO buying the firm from the partners of its original law firm owners.
Mortgage Strategy asks whether restrictive rules are impeding lending in themortgage market. Is it the mortgage market or the property market we need to think about.