Half of advisers failing to adapt investment process
Despite continued regulatory scrutiny, more than half (54%) of UK financial advisers have not adapted their investment process over the last two years, according to research from FE.
Author: Tom Carnegie
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Alan Shearer adviser banned for taking insolvent company assets
A UK-based IFA, whose former client was England striker Alan Shearer, has been banned from holding a directorship for sneaking £76,000 from his insolvent advice firm.
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Customers of failed DFM paid out
The UK’s pension lifeboat scheme has made its first compensation payments, totalling £5.7m, to customers of the failed discretionary fund manager Strand Capital.
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Pension transfer boom over says Lang Cat
The UK’s pension transfer boom could be over, according to research by financial services consultancy firm The Lang Cat.
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FCA warns firms of robo-advice failings
Firms offering robo-advice have been accused by the UK’s Financial Conduct Authority (FCA) of using unclear charging structures and failing to protect vulnerable clients.
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Scottish Widows ‘surprised’ by Standard Life Aberdeen challenge
Scottish Widows says Standard Life Aberdeen is a clear and material competitor and it, therefore, has the legal right to terminate its investment management agreement with the firm.
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Beaufort clients face covering £100m liquidation costs
Clients of collapsed Beaufort Securities could lose up to 40% of the value of their holdings to cover liquidation costs, bringing into question the whole system of regulatory and legal protection of investors in the UK, according to campaign group ShareSoc.
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PI woes force pension transfer firm to pull advice service
UK pension transfer specialist O&M Pension Advice will cease advising clients from 1 July after it ran into “unexpected difficulties” with its professional indemnity (PI) insurer, a problem that is becoming more common in the advice market.
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DFMs to stump up for advisers’ FSCS bills
The UK financial regulator has released major plans to force intermediaries to pay 25% of advisers’ Financial Services Compensation Scheme (FSCS) bills, despite strong opposition.
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Sanlam launches BPR product to mitigate inheritance tax
Sanlam UK has launched an inheritance tax service that enables clients to mitigate liabilities and generate long-term growth by investing in smaller companies on the Alternative Investment Market.
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Faulty Aviva platform sends advisers false 10% drop warning
Aviva has been forced to issue another apology to advisers after they were wrongly sent a notification that the value of their clients’ portfolios had dropped by more than 10%.
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Aviva sorry for platform troubles as adviser pulls clients
Aviva has apologised for its platform, which has been a source of ongoing frustration for advisers since it was updated three months ago.