Advisers at risk from ‘inappropriate’ DFM agreements
Thousands of financial advisers could fall foul of Mifid II for having the wrong type of intermediary agreement with their discretionary fund managers, the Personal Finance Society has warned.
Best Practice
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Insistent clients piling the pressure on advisers
Clients with high transfer values for final salary schemes are piling the pressure on advisers when they disagree with their recommendations, research from Prudential has found.
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Winners of inaugural Global Education Trust Awards unveiled
A professional body granting qualifications for competence and ethical behaviour in the financial advisory sector has announced the recipients of its awards aimed at rewarding financial literacy among university students.
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UK pension transfer changes – what are the risks for advisers?
The FCA has proposed overhauling the rules for advising on DB to DC pension transfers. Rob Morris, partner at RPC, looks at the risks these changes create for financial advisers and their insurers.
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Offshore bond top-slicing – the devil is in the detail
Advisers and clients could be caught unaware by a little-known change to offshore bond top-slicing, warns Rachael Griffin, financial planning expert at Old Mutual Wealth.
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Brewin Dolphin launches financial adviser apprenticeship scheme
Wealth manager Brewin Dolphin has launched a financial planning apprenticeship scheme aimed at attracting new recruits into the profession.
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Advised clients £40,000 better off
Those receiving financial advice are, on average, £40,000 ($51,468, €44,973) better off than their peers who do not, research from the International Longevity Centre UK (ILC-UK) has found.
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Isle of Man regulator steps up anti-money laundering crackdown
The Isle of Man financial regulator is taking action against anti-money laundering and terrorist financing with new guidance rules aimed at “avoiding a tick-box approach” to assessing the risk of customer involvement in such activities.
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Five things you need to know about Qnups
For years, qualifying non-UK pension schemes (Qnups) have been seen as a niche product relegated to the realms of ‘aggressive tax planning’, says Martin Hall, director of Isle of Man-based pension provider Optimus. Here he reveals five reasons why it’s time for advisers to re-evaluate their position.
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HMRC doubles tax evasion requests to overseas governments
HM Revenue and Customs has almost doubled its requests to governments elsewhere in the world for help in suspected tax evasion cases over a five-year period, according to figures obtained by law firm Pinsent Masons.
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Eight tips to consider before advising millennials
Today’s millennials are tomorrow’s clients, says Craig Featherby, chief executive of South African advisory firm Carrick Wealth. Their different attitudes to things like money mean millennials use language differently to talk about it. In order to advise them, we need to understand how they communicate, he adds.
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Tax planning trustees warned over beneficial register deadline
Many trustees will have too little time to comply with the new rules for the beneficial ownership register of trusts, and others will have huge amounts of information to gather, international audit, tax and consultancy firm RSM has warned.