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Weekly Updates
Our Industry Commentator with his top news links each week.
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22 September 2019
Hargreaves Lansdown founder Peter Hargreaves attacks Neil Woodford in an interview with the Sunday Times.
15 September 2019
SJP is in the eye of the storm and facing what feels like an unprecedented challenge to its business model.
08 September 2019
LECB has agreed to stop DB transfer advice after discussions with the regulator as Corporate Adviser reports. There is so much to debate about this story, but the immediate reaction was that this is a very professional firm offering relatively cheap advice. If it can’t offer compliant transfer advice maybe no firm can.
01 September 2019
Overseas UK pensioners in the EU have raised concerns that the Government has only guaranteed indexation of their state pension for the next three years as Corporate Adviser reports. It is required to index pensions under EU single market legislation.
25 August 2019
IFAs would, no doubt, have concerns about the general reputation of financial services from the problems facing mini-bond providers. Yet it is the fact that we know the FCA and FSCS may aim to provide compensation and make the regulated market pay for it – that may be of greater concern.
16 August 2019
There has been a lot of talk recently about how FNZ is coming to dominate the platform space. Perhaps the following news will make things a little better?
10 August 2019
It's been an interesting few weeks with the FCA proposing a ban on contingent charging at the end of July with reports across the national newspapers including the Guardian.
21 July 2019
The FCA held its annual meeting last week producing lots of headlines about disgruntled consumers upset about a range of issues including LCF, Lendy and Woodford. Very different issues for very different firms of, course, though much of the national coverage generated more heat than light. There were a few stories of note.
14 July 2019
The FSCS continues to twist and turn in a bid to allow LC&F mini-bond’s investors access to the FSCS funds as Money Marketing reports.
07 July 2019
Interesting to see who is coming to the defence of the advice sector over pension transfers.
29 June 2019
23 June 2019
Nutmeg has convinced around 1000 customers to crowdfund the business to the tune of £2.5m. As Money Marketing, reports for £25,000, investors are entitled to VIP customer support, and for £50,000 Nutmeg will lower its fees for the duration of the investment. For £100,000, crowdfunders will be able to take part in a roundtable with the firm’s chief investment officer.
16 June 2019
Advisers and consumers are increasingly worried that the volume of cold calls is increasing significantly. Protection specialist Alan Lakey is very worried about the increase in cold callers discussing insurance. He believes at least some of these are from British-based firms.
10 June 2019
Woodford Investment Management has suffered a brutal week and no mistake. Following last week’s shock shuttering, the firm has faced huge criticisms, withdrawals of mandates, legal threats and huge reputational damage.
02 June 2019
There are a lot rumblings of discontent around firms’ qualifications in the press recently and this week it is the turn of chartered status for firms. Rowley Turton’s Scott Gallacher declares himself very disappointed that neither the CII nor Unbiased have taken swift enough action to stop firms coming up in the ‘chartered’ search when they are not.
27 May 2019
Advisers must be wondering if they will ever see a sensible pensions policy emerge again. Chancellor Philip Hammond has ruled out scrapping the tapered annual allowance when speaking to MPs about the situation regarding NHS pensions and doctors taking early retirement.
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