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.
Best Practice
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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.
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Three financial adviser initiatives: Holborn Assets
In the latest of our series of insights from financial advisers across the world, Keren Bobker, senior partner of Dubai-based Holborn Assets sets out three initiatives she is taking to build the business along best practice lines.
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Smaller firms likely to bear the brunt of HK fee disclosure
Hong Kong’s enhanced fee disclosure proposals should not have a big impact on banks and fund houses, but may impact smaller intermediaries, according to industry players.
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Barclays launches online investment service
British bank Barclays has launched an online investment service in an effort to help plug the savings and advice gap.
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Nearly 40% of Britons looking at a career in financial advice
Almost two fifths (38%) of British workers are interested in a career that enables them to give people advice on their investments and finances, according to new research by St. James’s Place Academy.
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Professional development mandatory for all members: CISI
The Chartered Institute for Securities & Investments (CISI) is introducing mandatory continuing professional development (CPD) for its global membership.
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Muted response to FCA plans on shopping around for annuities
Proposals from the UK’s Financial Conduct Authority (FCA) that would require annuity providers to tell customers what they could gain by shopping around and switching have been met with muted enthusiasm.
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OMI launches ‘better products’ drive for international advisers
Old Mutual International (OMI) has launched a new initiative to provide international advisers and clients with access to structured products which must meet set criteria on transparency, simplicity and value, the Anglo-South African insurer said in a statement.
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Hong Kong regulator pushes for fee transparency
Fund distributors in Hong Kong will have to disclose any monetary benefits they receive prior to, or at the point, of sale, under new proposals from the Securities and Futures Commission (SFC).