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FCA issues adviser guidance on insistent clients
The FCA has set out its concerns about insistent clients in further guidance to advisers on the issue. Last week, FCA chief executive Martin Wheatley said the regulator planned to issue further...
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FCA confirms pension transfer qualifications overhaul
The FCA has published its final rules on pension transfers, which takes effect from today, including a climbdown on occupational transfers without safeguards. In March, the regulator announced a...
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FCA triples estimate of pension transfer specialists needed
The FCA has significantly altered its estimates for the number of advisers who will need the pension transfer specialist qualification to deal with demand for transfers out of defined benefit schemes....
View ArticleA retail review (Property opinion piece April 2015)
By Simon Moscow, Head of UK Retail Asset Management, Property, Aberdeen Aberdeen Asset Management recently attended the fourth Completely Retail & Leisure Marketplace event held at Old...
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Deutsche Bank shares jump after CEO exits
Shares in Deutsche Bank have risen on the news that its co-chief executives have quit to be replaced by a new, solo chief executive. Anshu Jain and Jürgen Fitschen said yesterday they would step down...
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Morningstar IM appoints Kemp as CIO for EMEA
Dan Kemp, the Morningstar Investment Management EMEA co-head of investment consulting and portfolio management, has been appointed as chief investment officer at the firm. Kemp, who joined Morningstar...
View ArticleIs property heading for a fall?
The Queen’s Speech last month saw the next step in the Conservative pledge to expand the Right-to-Buy scheme. But there are concerns the move could compound the UK’s housing crisis and put pressure on...
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Succession Group acquires IFA for £2.9m
Succession Group has acquired independent advice firm DNG Financial Solutions for £2.9m. DNG Financial Solutions has offices in Daventry and Northampton. The deal, which is subject to FCA approval, is...
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Tax freeze puts CGT and pensions in the firing line
Experts believe changes to capital gains tax and pensions tax relief look increasingly likely after the Government committed to a five-year “tax lock” on income tax, VAT and national insurance. In the...
View ArticleAviva’s Samouilhan cuts US exposure and boosts European holdings
Aviva Investors multi-asset manager Nick Samouilhan has significantly reduced his US equity exposure, as he sees a stronger dollar hitting large caps’ earnings, and is more positive on European...
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Landlords bring group claim against Foxtons over ‘hidden commissions’
London-based law firm Leigh Day is bringing a group claim against Foxtons on behalf of landlords claiming the estate agent is charging hidden commissions on repair and maintenance work. It is claimed...
View ArticleChris Davies: Are insistent clients a dilemma or an opportunity?
My travels over the last month have taken me all over the country and there seems to be only one topic raising its head on a consistent basis: insistent clients determined to transfer from defined...
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Andrew Tully: What do Tories have in store for pensions?
The Conservatives’ overall majority at the general election was a surprise to many. From a pensions perspective, we should have at least a degree of consistency with the previous regime. However, it...
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Danby Bloch: UFPLS vs flexi-access drawdown is a no brainer
If there is a straight choice between flexi-access pension drawdown and uncrystallised funds pension lump sum, flexi-access wins by a country mile in virtually every situation. The Treasury prefers to...
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Senior Tory MP: State pension triple-lock ‘difficult to justify’
Senior Tory backbencher and former defence secretary Liam Fox has said the triple lock on the state pension is “difficult to explain” to young families. In an interview with the Spectator, Fox...
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Grexit ‘no drama’ for EU, says French finance minister
Greece exiting the EU would be “no drama” for the rest of the union, says French finance minister Michel Sapin, as world leaders at the G7 summit urged Greece to reform. Sapin, who had previously been...
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HSBC to axe 8,000 UK jobs
HSBC has confirmed plans to cut up to 25,000 jobs as part of a restructure of the business, including up to 8,000 roles in the UK. The total cuts exceed reports from last weekend, when it was...
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Aberdeen’s acquisitions head departs
Aberdeen Asset Management’s head of acquisitions, and one of its earliest employees, is to leave the firm at the end of the month. Hugh Little will retire after 28 years at the firm, having been the...
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HSBC to rename UK retail arm
HSBC plans to change the name of its ring-fenced UK retail banking arm as part of an overhaul that will see 8,000 jobs slashed. The Telegraph reports the bank, which employs 26,000 staff in the UK,...
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FCA bans ex-equity release boss over £1m ‘illegitimate transfers’
The FCA has banned Kevin Allen, the former sole shareholder of mortgage intermediary NMB, for propping up the business through “illegitimate transfers” from New Life totalling £1m. Allen, who was...
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