PEOPLE MOVES: Woodbrook, AMP, Arlo Associates
Woodbrook Group hires an industry veteran to manage its Spain operations, AMP’s chief risk officer for its advice division resigns and Arlo Associates appoints a tech entrepreneur to chair its board.
Author: Tom Carnegie
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Fidelity and Amazon create virtual reality financial adviser
The research arm of Fidelity Investments has teamed up with Amazon to develop a digital financial adviser, which people can interact with through a virtual reality headset.
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Six Singapore advisers banned for mis-selling
Former Prudential, AIA and Citibank employees have been prohibited from providing financial advice services in Singapore, after they were found to have mis-sold investment products.
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7IM becomes a pension provider
Seven Investment Management (7IM) has launched its own self-invested personal pension (Sipp), making the firm an official pension provider.
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One in five losing track of pension pots
Nearly one in five UK adults has lost track of at least one pension pot, according to research by wealth management group Tilney.
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UK compensation scheme declares 8 firms in default
A raft of UK financial advice firms were declared in default by the Financial Services Compensation Scheme (FSCS) during April, meaning consumers could get back money they have lost.
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PEOPLE MOVES: RL360, Indosuez, Janus Henderson
RL360’s parent company makes two major appointments, Indosuez Wealth Management hires a head of markets, investment and structuring in Singapore, while a former employee re-joins Saxo Bank as a chief executive.
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Isle of Man ready to fight UK Govt over public register
The Isle of Man was ready to “vigorously challenge” the UK Government if it imposed a public register of beneficial owners on the crown dependency, its chief minister Howard Quayle has revealed.
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Bahrain rejects expat remittance tax
Bahrain’s government has voted against a proposal to tax expat remittances, after it was deemed unconstitutional by the jurisdiction’s financial and economic affairs committee.
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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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UK working pensioners to pay National Insurance?
UK pensioners who are still working could have to pay National Insurance (NI) contributions to help fund their care in later life, according to plans being considered by the government.