UBS Smartwealth sale shows importance of face-to-face advice
Private bank comments on disposal of mass affluent online service
Author: Will Grahame-Clarke
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Compliance blamed for UK money laundering failings
UK anti money laundering efforts are struggling because heavy handed reporting rules are creating a glut in poor quality reports – a reform body has said.
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Adviser association chief pleads for less EU regulation
The chair of the European Federation of Financial Advisers and Intermediaries (Fecif) has called on Europe to ease up on legislation for advisers.
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High Court shuts down cold-calling pension company
An abusive UK pension company that pumped millions into notorious ‘storage’ investments has been shutdown by the High Court.
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Advisers join asset manager KID reform push
International advisers have joined European fund managers in a call to reform key information documents for packaged retail and insurance-based investment products – six months into implementation.
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FSCS names eight failed advice firms
Clients of eight failed advice firms can get their money back after the UK compensation scheme added them to its list of firms in default.
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Adviser cracks during interrogation with regulator
A financial adviser who forged qualification documents has been banned after he cracked during a “compelled interview”.
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FCA reveals rising cost of PI cover
The scale of the burden of rising professional indemnity insurance (PII) premiums has been revealed in a new section of the UK regulator’s data bulletin.
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C Hoare scion acquires stake in Jersey benchmarking business
The former heads of C. Hoare & Co Wealth Management, James Hoare and Annamaria Koerling, together with Andrew de la Haye, deputy managing director of First Names Group, have acquired a majority stake in index provider Enhance MPI.
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Pension boiler room scam shuttered by UK court
A company which ran 15 pension schemes that duped savers and allowed “unsavoury” advisers to pocket £4m in commissions has been declared insolvent.
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European Wealth discovers liabilities at US acquisition target
Guernsey-based European Wealth Group’s $1.7bn acquisition of US broker Newbridge faces a fresh hurdle despite receiving regulatory approval.
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Old Mutual adds £200m in assets with acquisition
Old Mutual Wealth Private Client Advisers has acquired DG Pryde, an advice firm based in the Scottish town of Duns, outside of Edinburgh, marking the fith acquisition in less than a year.
