Mattioli Woods cites PI costs for pension transfer exit
UK-based Mattioli Woods has blamed the increasing costs of professional indemnity (PI) insurance for its decision to exit the pension transfer market.
Industry
-
-
No longer in doubt, UK adviser directory gets go ahead
After concerns that client-facing advisers would be excluded from a financial services directory, the Financial Conduct Authority has confirmed that these roles will be included.
-
LGBT victory in Hong Kong expat visa court ruling
A landmark court case means that same sex couples in civil partnerships will be eligible for spousal visas in Hong Kong.
-
Head of major Chinese wealth management firm vanishes
Several prominent Chinese banks and private investors are demanding answers from a licensed Shanghai wealth management firm after its boss disappeared a week ago.
-
Invesco and Woodford diverge over boardroom battle
In a rare divergence, Neil Woodford and his former employer Invesco Perpetual have ended up on opposite sides of the fence over a boardroom battle taking shape at Stobart Group, famous for its huge lorries.
-
PEOPLE MOVES: Guardian, Zurich, Lloyd’s of London
Guardian Wealth Management has hired from deVere, Zurich appoints from within to lead acquisition and Lloyd’s historic first female chief announces exit.
-
Higher offshore tax evasion penalties explained
The UK taxman has updated its factsheet on how it calculates new penalties for offshore tax evasion involving income tax, capital gains tax and inheritance tax.
-
Rothschilds back retail investment platform
Two members of the famous Rothschild family have put their own money behind an AI-powered wealth manager offering for UK retail investors.
-
Australia faces IFA exodus if industry forced to upskill
Potentially hundreds of senior Australian financial advisers could leave the industry if they are forced by the government to upskill, according to the country’s Stockbrokers and Financial Advisers Association (Safaa).
-
Investors opting for DIY over advice
There is work to be done if the advice industry wants to be considered the premier source of information for people making retirement investment decisions around the globe.
-
Utmost Wealth’s head of sales departs
Isle of Man-based Utmost Wealth Solutions has confirmed that head of sales, proposition and marketing, Simon Woolnough, has left the business. The insurer has also provided more details around its deal with the Zurich Platform.
-
Nucleus to float on London’s AIM in July
Platform provider Nucleus will float on the London Stock Exchange’s Alternative Investment Market (Aim) later this month, in a deal that is expected to value the business at £150m ($198m, €169m).