Millennials are willing to pay an average of just £28.50 ($35.50, €33.12) per hour for financial advice, casting doubt on the industry’s ability to capture younger clients amid the rise of robo-advice, research from financial services PR consultancy MRM has found.
The main life insurance regulator in the UAE has unveiled plans to tackle high fees and hidden commissions across the industry after receiving what it described as “an alarming amount of complaints from policyholders”.
The financial advisory space is undergoing an enormous amount of flux at the moment.
The Chartered Institute for Securities & Investment (CISI) has agreed a cross border deal enabling recognition of its financial services qualifications between Ireland and the UK.
The UK’s Financial Conduct Authority (FCA) and Department for Work and Pensions are to impose a 1% early exit charge cap on existing personal pensions and occupational schemes from 31 March next year.
Jurisdictions that offer zero rates of corporation tax, such as Jersey and Guernsey, may not automatically be considered tax havens, EU finance ministers have said.
At an average fee of around £157 ($195, €179) an hour, a large proportion of UK advisers are having to work longer hours to keep up with demand, according to a new survey by insurance giant Prudential.
In the third of a series of three independent reviews of international life products, Brian O’Neill, consultant at Isle of Man-based actuary and consultancy firm Boal & Co, puts the spotlight on Old Mutual International’s Wealth Management Plan.
Overseas pensions could be excluded from sharing orders during divorce proceedings after the England & Wales Family Court said that it has no power to make such an order.
The UK’s pension triple-lock will “worsen the economy”, is “heavily skewed” towards baby boomers, and should be scrapped, according to the Commons Work and Pensions Committee.
The European Banking Authority (EBA) is seeking industry views on setting up a new prudential regime that is specifically tailored to the needs of investment firms.
In her final feature on customer service, Julie Littlechild, founder of Absolute Engagement, looks beyond customer satisfaction and loyalty.
