Equitable Life joins £24bn consolidator’s stable
Policyholders could be set for a windfall after the world’s oldest mutual assurer, The Equitable Life Assurance Society, is sold to Life Company Consolidation Group (LCCG).
Industry
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Wealth firm boss charged with fraud
The managing director of a collapsed UK wealth management firm, which allegedly still owes more than £13m ($17.3m, €14.8m) to investors, has been charged with fraud by the City of London Police.
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UK compensation scheme names 8 failed firms
Clients of eight failed advice firms can get their money back after the UK compensation scheme added them to its list of firms in default.
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PEOPLE MOVES: The Fry Group, LGIM, Pictet Wealth
The Fry Group appoints from Old Mutual for Singapore chief, Legal & General Investment Management recruits from Standard Aberdeen in Asia and Pictet Wealth’s chief exits.
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IFA nets small win over ex-Everton manager in damages case
Former Premier League football manager Walter Smith has been forced to hand over documents to his ex-financial adviser, who he is suing for £320,000 over investments made during the time he was in charge of Everton.
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Good news for investors in defunct Beaufort
Nearly all individual customers of Beaufort Asset Clearing Services are expected to be protected in full for the return of money and assets, the UK’s Financial Services Compensation Scheme (FSCS) has confirmed.
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British Overseas Territories in London to fight public register
Tense talks are being held this week in London as leaders of British Overseas Territories (BOTs) try to persuade the UK Government to reverse its decision to impose public registers of beneficial ownership.
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Advisers ditch plans to shrink active allocations
Global financial advisers have backtracked on plans to decrease their active exposure, instead marginally increasing allocations, according to a survey by Natixis Investment Managers.
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PEOPLE MOVES: Ashburton, Brewin Dolphin, Sanlam
Ex-UBS man to lead Ashbuton’s international business, Brewin Dolphin hires from gold dealer to lead new London office and Sanlam recruits from Jupiter for UK regional sales role.
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Pension checklist for changing job
It can be easy to forget about pension benefits when you are swept up in the excitement and stress of changing job. But as workplace pensions can be very generous, it pays to keep on top of any pots that have been built up, says Fidelity International’s Ed Monk.
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Adviser cracks during interrogation with regulator
A financial adviser who forged qualification documents has been banned after he cracked during a “compelled interview”.
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What advisers should look for in a platform
The rapid development of the offshore platform space means that advisers can sometimes be spoiled for choice. But what should they be looking for?