Artificial Intelligence disappoints when markets fall
Malaysia-based asset manager Farringdon Group has shelved plans to launch an artificial intelligence investment strategy after the performance disappointed.
Industry
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Pensions industry shuns cash-poor millennials
Millennials have largely been left in the lurch by pension providers who assume they are too cash poor or disinterested to engage with investing for their future.
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Sipp complaints help push UK compensation to £405m
Customers of failed financial services firms received £405m (€458m, $530m) in compensation from the Financial Services Compensation Scheme (FSCS) in 2017/18, in part driven by a rise in Sipp complaints.
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Advisers join asset manager KID reform push
International advisers have joined European fund managers in a call to reform key information documents for packaged retail and insurance-based investment products – six months into implementation.
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AILO chief to bow out of ‘dynamic industry’ after 47 years
Alan Morgan-Moodie is to retire as chief executive of the Association of International Life Offices (Ailo), a post he has held since 2010.
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Asset managers failing at plain English
Standard Life, Legal & General and Santander are among the high profile firms named in a report that criticises asset managers for using obscure language, long sentences and jargon on their websites.
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Lesson in the unexpected as UBS pick Germany exits World Cup
International wealth manager UBS has been left red faced after its pick to win the football World Cup crashed out on Wednesday.
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PEOPLE MOVES: Skagen, Wise Funds, Vistra
Vistra’s chief executive steps down, Wise Funds hires a fund manager from Schroders and Skagen Funds promotes one of its own to lead the company.
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Massive boiler room scammer gets more UK jail time
A fraudster known as the “Wolf of Wimbledon” has been given an additional four years in prison after failing to pay a more than £7.5m ($9.9m, €8.5m) confiscation order, the Serious Fraud Office has confirmed.
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UK regulator threatens drawdown fee caps
The Financial Conduct Authority has warned the pensions industry to clarify its charges or face caps, as part of a bid to drive up engagement and reduce costs for retirees in drawdown.
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Utmost’s offshore bond range added to Zurich platform
Utmost Wealth Solution’s two Isle of Man-based offshore bonds have been added to the Zurich Platform.
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FCA acts to stop drawdown retirees losing out
The UK’s Financial Conduct Authority (FCA) is planning to introduce “investment pathways” for drawdown retirees, in a move to prevent them from making poor decisions and defaulting into cash.