Adviser firms making up to £100,000 in revenue a year are spending 5 per cent of that paying for PII, FCA data shows.
There will, no doubt, be much discussion of the advice gap though for larger firms the situation is better.
Firms making between £100,001 and £500,000 in revenue paid 3.1 per cent towards PII.
Sanlam has put its UK wealth management business up for sale.
Baillie Gifford’s funds have been deemed to offer value to investors across the board, with all 35 funds rated green or amber, according to the firm’s second Assessment of Value report.
The shares of controversial US share trading platform Robinhood fall 8 per cent in what Citywire describes as a disappointing debut.
The Pensions Administration Standards Association (PASA) will lead the development of the conventions for matching pensions dashboard users to their pension records.
DC consolidation should be for member outcomes not to fund UK recovery says Aegon’s Kate Smith in Corporate Adviser.