Pension transfers into Qrops cools to £740m
Measures designed to curb the abuse of transfers to qualifying recognised overseas pension schemes (Qrops) appear to have been effective, the latest UK government figures reveal.
Industry
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£20bn withdrawn since pension freedoms launched
The popularity of the UK’s pension freedoms is showing no signs of slowing, with almost £20bn ($26.2bn, €22.4bn) having now been flexibly accessed since the reforms launched in April 2015, according to the latest figures from HM Revenue & Customs.
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PEOPLE MOVES: Old Mutual Int’l, Guernsey Finance, Tiller
Old Mutual International hires a head of distribution development for Hong Kong, Guernsey finance appoints a deputy chief executive of strategy, while Tiller expands its team with a raft of senior hires.
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Discretionary permissions on the slide at Nucleus
Adviser interest in obtaining discretionary permissions on the Nucleus platform has slumped, it has revealed.
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Megatrends that will shape investment growth
There are nine key megatrends that will have a big impact on the investment philosophy of the future, according to research by RBC Wealth Management, part of the Royal Bank of Canada.
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Independent advisers move up as Asia private banks retreat
The high minimum amount to open a private bank account is creating opportunities for small boutique wealth managers, according to Simon Parfitt, director at Hong Kong-based Pyrmont Wealth Management.
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Phoenix Life named and shamed over pension transfers
Insurer Phoenix Life levies the highest pension transfer exit fees and pensions consultancy Xafinity is the slowest to process transfers, a survey has revealed.
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Only 1% of consumers using robo-advice
Despite many fintech firms proclaiming robo-advice growth, a major survey by GlobalData has revealed that, across the generations, only 1% of consumers are using the technology to invest.
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The benefits of a Family Investment Company
People wanting to protect and maintain control of family wealth are increasingly turning to family investment companies. Ravi Francis, senior associate solicitor at Irwin Mitchell Private Wealth outlines the benefits and drawbacks of using such a structure.
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Failed Columna Fund investigator sets up task force
A Swiss-based private partnership created to help those who have suffered losses of assets and money from financial companies has launched a task force to recover money from the failed Columna Commodities Fund.
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Top retirement hotspots for British expats
While many in the UK may want to retire abroad, without the right planning or financial advice they may find themselves falling foul of local tax laws, warns Retirement Advantage.
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How to spot a dodgy life insurance contract
Small advice firms could face tougher anti-money laundering (AML) safeguards under a regime drafted by the Financial Action Task Force (FATF), which has published a series of red flags for suspicious insurance contracts.