Jersey Finance has launched a new communications strategy to counter the negative impact of cross-border financial centres’ malpractice on the general public, and to improve the image of its financial services industry in the local community and abroad.
More than three quarters of advisers in the UK use model portfolios according to new research which shines a light on the growing shift towards structured investment offerings.
New HMRC guidelines on how people can downsize their home but retain the value of their previous residence for inheritance tax reduction purposes have been branded ‘impenetrable’ by accountancy body the ICAEW.
International IFA firms, lawyers, accountants and wealth managers need to be “astute to the challenges and effects” of the UK Criminal Finances Act, which comes into effect on 30 September, a leading Channel Islands law firm has warned.
Those who received financial advice in the 2001-2007 period had accumulated significantly more liquid financial assets and pension wealth than their unadvised equivalent peers by 2012-14, a report by the UK think tank International Longevity Centre supported by Royal London has found.
The Australian Association of Independently Owned Financial Professionals (AIOFP) has stepped up efforts to amend the legal definition of “independent advice” through the publication of a white paper seeking to challenge the regulator’s views.
Advisers are mulling the implications of FCA plans to incorporate the term ‘insistent client’ into its handbook guidance. The regulator has outlined what it sees as best practice – a move that could see advisers producing two suitability reports, with a particular focus on pension transfer advice.
Inheritance tax receipts have risen steadily since 2009/10 and while it is still a small slice of the UK’s overall GDP, the percentage is increasing and advisers need to help clients plan accordingly as it’s not just the wealthy that can be hit, Killik & Co’s Sarah Hollowell tells International Adviser.
The UK government’s decision to make pension transfers into recognised overseas schemes a statutory right has been welcomed by the industry, but experts caution that advisers will need real expertise to ensure clients don’t fall victim to scams.
Having a good life insurance policy is an important component of long-term financial planning and the best financial protection clients can offer their loved ones. But a reluctance to talk mortality and pervasive myths mean that some people still are not covered, says Globaleye’s Tony Ashton.
As part of its crackdown on pension scams, HM Treasury has confirmed that it will limit the statutory right to transfer but will extend the proposed criteria to include qualifying recognised overseas pension schemes (Qrops).
The Chartered Institute for Securities & Investment (Cisi) and Birmingham City University (BCU) have forged a partnership to give young graduates the opportunity to sit professional qualifications in financial services before finishing their degrees.
