IFAs stress that robo-advice is not the answer
Over 80% of UK-based financial advisers are unconvinced of the merits of robo-advice services to tackle the United Kingdom’s advice gap, according to research by Prudential.
Best Practice
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UK’s FCA steps up crime reporting requirements for advisers
The Financial Conduct Authority (FCA) is expanding its remit over financial crime by requiring large firms to file yearly reports into the matter.
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South Africa’s advisers need to adapt to RDR model, says KPMG
Financial advisers in South Africa need to adapt their business models to take into account the Retail Distribution Review (RDR), due to be introduced next year, a senior manager at professional services firm KPMG has said.
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The key value of advice in a fast changing world
In the increasingly and often unnecessarily complex world of personal finance, the biggest value of a financial adviser may be in managing customer behaviour, argues John Astrup, who runs the Zurich savings and investment propositions in the Middle East.
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Australian gov’t targets tax avoidance in retirement planning
The Australian Tax Office has warned domestic financial advisers that it is targeting retirement planning schemes which encourage Australians to engage in tax avoidance arrangements through their self-managed superannuation fund (SMSF).
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IFAs must recruit from a wider gene pool to grow business
Recruiting more diverse IFAs is key to tapping new markets and growing business, but attracting fresh blood into the industry remains a challenge, industry experts have said.
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Advisers using technology well see 40% rise in AUM, says report
Financial advisers making the most of technological advances have almost 40% more assets under management (AUM) than their counterparts, new research suggests.
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IoM plans to enforce full commission disclosure worldwide
The Isle of Man regulator has announced plans to make it mandatory for international life companies based on the island to disclose to retail customers all commissions being paid to their financial adviser.
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UK’s Cisi partners with Dubai University to offer courses
The UK’s Chartered Institute for Securities & Investment (Cisi) is teaming up with the University of Dubai to offer students internationally recognised financial qualifications.
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Singapore regulator vows tougher action after 1MDB scandal
Lapses in anti-money laundering and other scandals have “made a dent” in Singapore’s reputation as a “clear and trusted financial centre”, said Ravi Menon, managing director of the Monetary Authority of Singapore (Mas).
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Damning BHS report highlights need for DB pension reform
The collapse of British department store group BHS was due largely to “systematic plunder” by its former owners, but raises ongoing concerns over the future of company pension schemes which need to be tackled soon, according to a UK parliamentary inquiry.
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Hong Kong gains pace with regulatory shifts
Mark Christal, chief executive officer of Hong Kong for Old Mutual International, part of Old Mutual Wealth, on the shifting sands of Hong Kong’s regulatory landscape, its impact on all participants in financial services within the region, and the challenges facing product providers, advisers and end clients.