UK asset management to see post-Brexit exodus of EU nationals
The UK investment management industry is likely to lose many of its European professionals following Brexit, according to a survey by the CFA Society.
Author: Kirsten Hastings
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FSCS warns over plague of scams
The UK’s Financial Services Compensation Scheme (FSCS) is the latest body to warn consumers that scammers are using its reputation in a bid to defraud them.
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European Wealth CEO departs as losses deepen
A statement on the London Stock Exchange on Wednesday confirmed Morton’s departure from the wealth and advice group. It read: “John was instrumental in establishing the company in 2010 and is the last founder of the group still serving on the board. “In the seven years of his stewardship, the business has built assets under management…
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The benefits of divorce for IFAs
Divorce and the rise of female entrepreneurs has seen an increasing number of women seek financial advice from an industry still struggling to attract them into the workforce, research has found.
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Anti-scam warnings on fake pension websites tricking investors
Rogue pension websites are carrying anti-scam messages to try to trick UK consumers into believing that they are legitimate businesses, The Pensions Regulator (TPR) has warned.
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Prudential sells off US broker network days after M&G merger
Prudential has sold its US independent broker-dealer network to focus on local retirement products just days after announcing plans to merge its UK insurance and asset management businesses.
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Ban and fine against former UK adviser network CEO upheld
An appeal by the former chief executive of an adviser network to overturn a ban on having ‘significant influence’ on any regulated activity has been struck down and a fine upheld by the UK’s Upper Tribunal Tax and Chancery Chamber.
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St James’s Place failing on fee transparency finds UK watchdog
Financial advisers from St James’s Place are failing to comply with rules on transparency around charges and some are misleading potential customers about what they can offer, an investigation by UK consumer watchdog Which? has found.
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Positivity meets uncertainty in a global equities dilemma
Despite positive economic indicators, uncertainty over US interest rates, political risk and high valuations are casting shade on global equities, says Rory McPherson, head of investment strategy at Psigma.
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FPI acquisition by RL360° a ‘game changer’ says CEO Kneeshaw
Aviva’s decision to sell Friends Provident International (FPI) to RL360° for £340m is “a game changer” for the life insurance industry, David Kneeshaw, chief executive of RL360°, has said.
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FCA reveals eight firms rapped for pension transfers last year
The Financial Conduct Authority has confirmed that it took action to stop eight UK firms, including deVere and Holborn, conducting and/or arranging overseas pension transfers in the last financial year but has declined to name them all.
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UBS reveals major shake up to wealth business
UBS Group is overhauling its wealth management businesses in Europe and emerging markets by reducing its booking hubs to three from around 10 and has announced a senior management restructure.
