UK advisers working longer hours, charging £157 per hour
More than a quarter of UK financial advisers are working longer hours, charging an average hourly rate of £157 ($226, €199), according to research from British insurer Prudential.
Companies
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Strabens Hall claims PI payout ends insolvency threat
International IFA firm Strabens Hall says it no longer faces “inevitable insolvency” due to £1m in claims over ill-fated investments in the collapsed Connaught Income funds after reaching an agreement with its professional indemnity insurer.
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Asset managers could see a third knocked off profits
Increased competition and unfavourable markets could see asset managers’ profits squeezed by as much as 35% over the next two years, according to a report by McKinsey and Company.
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Close Brothers AM buys Eos
Close Brothers Asset Management has acquired Eos Wealth Management for an undisclosed sum.
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PSigma warns investors of ‘new retail world order’
Online retailers have changed the rules of the game for consumer spending, and portfolio managers are struggling to catch up, says PSigma Investment Management.
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Better DFM scrutiny needed – Nucleus
Advisers’ scrutiny of outsourced discretionary management propositions needs to improve, says Nucleus.
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Advisers losing faith in star managers, report says
The continued prevalence of star fund manager culture within the asset management industry has been called into question in a new report by FE.
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Rewarding global adviser excellence
To accompany the launch of our Best Practice section on our website, International Adviser is pleased to present to you a series of global Best Practice Adviser Awards, in partnership with Old Mutual International, recognising those within the industry that are, or have made, the transitions towards best practice.
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Wolseley shares slide on revenue slowdown
Wolseley’s share price plummeted by 6.4 % on Wednesday morning to 3792p as it reported its latest numbers.
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Wealth managers ‘dangerously behind the tech curve’, says PwC
PricewaterhouseCoopers has said wealth managers are dangerously behind the curve in terms of their use of technology.
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Alliance Trust shares climb as merger talks revealed
Alliance Trust has announced it has entered talks with RIT Capital Partners on a merger of the two companies.
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Half of UK advisers offer clients 24hr portfolio access
Half of UK financial advisers now offer their clients 24-hour access to their investment portfolios, more than double the number that provided the same service last year, according to a new report by ratings and research agency Financial Express (FE).
