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Weekly Updates
Our Industry Commentator with his top news links each week.
Featured
02 February 2020
The FCA has visited ten insurance companies asking about their supervision of unit-linked funds. It particularly wants to understand how governance is being applied including when it comes to costs as FTAdviser reports.
26 January 2020
The big story of last week was on the front page of the Financial Times and it makes for rather grim reading for the IFA sector both for those who have been conducting pensions transfer business until recently and those concerned about FSCS bills.
19 January 2020
There is a very clear clash between the views of many financial planners and consumer advocates on the issue of disclosing fees on websties.
12 January 2020
Vanguard is entering the UK advice market with a service offering investment guidance to UK investors as Thisismoney reports.
05 January 2020
The Christmas break saw two sorry tales in financial services enter the closing chapters.
15 December 2019
Many IFAs and the City of London are broadly happy with the election result. Capital gains and dividends will not now be placed on the same basis as income tax as promised in the Labour manifesto. The Conservative Party has promised not to raise a range of taxes including income tax and VAT. A budget is expected in February. It will be interesting to see how that works as the United Kingdom departs the European Union in January and moves out of alignment with many regulations at the end of next year.
08 December 2019
The pension transfer debable rumbles on. The FSCS has received 2000 complaints about pension transfers advised on by just three advice firms.
30 November 2019
The Governor of the Bank of England Mark Carney is to become the UN envoy on climate action and finance.
25 November 2019
Are you seized with election fever yet? Well even if you are not, it is beholden on advisers to help inform their clients about threats and opportunities if there are any.
17 November 2019
By far and away the biggest story of the weekend is for IFAs is the Sunday Times’ look at adviser charges. It suggests that among other things Investec is the most expensive with an RIY of 3.8% followed by Rathbones at 3.4%. It says Barclays Wealth, 1825 — the advice arm of Standard Life — and Smith & Williamson are joint third, with a rate of 3.2%.
11 November 2019
The FCA and TPR warn investors that they could lose 22 years of savings in 24 hours.
03 November 2019
The Sunday Times reports that depositary companies such as Northern Trust are warning fund managers to ditch risker stocks and that suspensions of more than three months will not be tolerated.
27 October 2019
Nic Cicutti, writing in Money Marketing, discusses an email from an investor in which his correspondent suggests that fees from financial advisers are simply too high or in other words around 3% or £10,500 upfront and then an ongoing annual charge of 1.1 per cent from inquiries made.
20 October 2019
The new chief executive of Tenet Mark Scanlon, currently dealing with the fallout of the move to a new back office system, admits he doesn’t have a financial adviser. Not sure if, in the midst of explaining the problems, this was entirely wise. The story and viewpoint about the migration is interesting.
13 October 2019
The board of Patient Capital is still considering sacking Neil Woodford but hasn’t consulted shareholders according to reports in the Telegraph. It would be quite a significant blow to Woodford Investment Management.
06 October 2019
WASPI and Back to 60 campaigners lose their High court judicial review challenge to the government’s increase in the retirement age for women. No reversal and no compensation at least from the legal route.
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