Regulation to make life ‘harder and harder’ for wealth firms
Regulation will make the job of a wealth manager “harder and harder” over the coming years, Quilter Cheviot’s Mark Hallam has said.
Best Practice
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Firms must take action now on Mifid II permissions says FCA
Firms that need to change their regulatory permissions to comply with Mifid II must act now, the UK’s Financial Conduct Authority has warned.
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Fear driving global rise in DB pension transfers say advisers
Fear that defined benefit (DB) pension schemes may be unable to meet their long-term liabilities is driving demand for pension transfers, research from Old Mutual International (OMI) has found.
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Fecif offers ‘unprecedented’ insight into European IFA sector
European IFAs will have a better understanding of their industry following detailed analysis of the continent’s advice sector by the European Federation of Financial Intermediaries and Financial Advisers (Fecif).
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Financial advice tops Channel Island Ombudsman complaints
Nearly half of the investigations handled by the Channel Islands’ Financial Ombudsman (CIFO) last year related to investments and funds, with financial advice the single most complained about area.
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Hong Kong’s new Insurance Authority eyes mis-selling crackdown
Hong Kong’s new insurance regulator plans to work closely with its mainland China counterpart to protect consumers when it officially takes over from the Office of the Commissioner of Insurance (OCI) on 26 June.
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Tax evasion crackdown will see wealth managers lose $13bn
Wealth managers around the world will lose around $13bn (£10bn, €11.5bn) of annual revenue due to a global crackdown on tax dodging as clients are set pull out $1.1trn out over the next few years, a new report suggests.
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Guardian’s new client division to tackle industry shortfalls
Guardian Wealth Management has launched a new division to focus on client relationship culture after research found that most expats feel the ongoing service they receive from their IFA firms has declined or stopped altogether.
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Zurich to support UAE advisers adapt to regulatory changes
Zurich has launched a programme to help financial advisers and intermediaries in the UAE prepare for and implement the upcoming regulatory changes to the country’s life insurance industry.
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Aussie watchdog warns advisers ahead of commission cap
Advisers in Australia have been warned by the country’s financial regulator not to inappropriately switch clients into charge-heavy products ahead of major changes to commission payments and clawbacks on insurance policy sales.
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Tories trump Labour as UK advisers struggle with uncertainty
Advisers favour a Conservative victory in the UK general election as nearly one in three say uncertainty over the result and its aftermath are a major concern for their business, research from MetLife shows.
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IMF urges millennials to prepare for ‘pension shock’
For millennials entering the workforce, the public pension system in advanced economies is simply not going to provide the safety net in retirement that it did for previous generations, according to a new report by the International Monetary Fund (IMF) entitled ‘Pension Shock’.