FCA sets deadline to end closed life book ‘poor practice’
A tighter framework for closed books of life and pensions business has been unveiled by the UK’s Financial Conduct Authority (FCA) after uncovering poor practices in parts of the industry.
Best Practice
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Tax avoidance vs evasion debate “immoral” and “inconsistent”
The gap between tax avoidance and evasion is disappearing and it is “immoral” to refer to it in the modern tax debate, said Richard Murphy, professor in practice in international political economy at City, University of London.
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UK advice industry failing to attract graduates
The UK financial advice industry is failing to recruit graduates and trainees into the sector, according to a new study by Investec Wealth & Investment (IW&I).
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Key action points for US citizens facing up to Fatca
Compliance with the Foreign Account Tax Compliance Act (Fatca) by those institutions affected by it is now well advanced, but the picture is much less clear for individuals affected by the new rules, says David Andrews, executive director (international private clients) at HFM Columbus.
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Global best practice adviser firm of the year 2016 revealed
We are delighted to announce as we come to the end of 2016 that the overall winner of International Adviser’s inaugural Best Practice Adviser Awards is…
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UK gov’t moves to tackle rising threat of pension scams
Nearly two years after the UK pension freedoms were introduced, the British government believes the current massive scale of scamming activity surrounding the industry warrants new laws to limit the rights of savers to transfer money out of existing schemes for their own protection.
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Youngest ever financial adviser gains fellowship with UK’s PFS
The UK’s Personal Finance Society has named a London-based 22-year-old financial adviser as its youngest ever to obtain one of its fellowships.
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Forces impacting on survival rate of financial services firms
Aspects of the international retail financial services market are perceived to lag behind several more mature domestic financial services markets, or certainly those in leading European economies, such as the UK, Germany and France, says Guy Vanner, managing director of AKG Financial Analytics.
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Industry reacts to Middle East clampdown on commissions
Leading figures from the financial services industry in the Middle East give their views on the proposed cap on commission and the prospect of commission disclosure coming to the region.
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UK launches financial adviser apprenticeship scheme
The British government has approved a new specialist financial adviser apprenticeship standard and will offer employers up to £9,600 ($11,979, €11,270) in financial help toward the training of a competent adviser.
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Australia passes law to slash upfront life commissions
The Australian government has passed a law that will significantly reduce the upfront commissions paid on life insurance products and cap ongoing charges.
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South African IFA firm to expand adviser training school
Cape Town-headquartered IFA firm Carrick Wealth is expanding its flagship Invictus programme, a training academy launched earlier this year aimed at the company’s would-be advisers.