Fidelity steps up passives price war
Fidelity International has stepped up the passives price war with the launch of six low cost cross-border equity index funds and the reduction of pricing on three existing UK-domiciled index funds.
Regions
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Women in drawdown £47,000 worse off than men
Women in drawdown face a 37% shortfall in their annual retirement income compared to men, leaving them more than £47,000 ($66,542, €53,935) worse off, according to a report from Zurich UK.
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Serious Fraud Office fights crime with ‘robo-lawyer’
Serious Fraud Office (SFO) cases will benefit from artificial intelligence technology that will allow it to investigate more quickly, reduce costs and achieve a lower error rate, the watchdog said.
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PEOPLE MOVES: RSM UK, Stonehage Fleming, FASEA
RSM UK promotes to fill chief operating officer role, Stonehage Fleming appoints a director to its Jersey office and an Australia adviser standards agency has named an acting managing director.
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HMRC’s £50m plan targets tax dodging wealthy
Ten thousand wealthy individuals could be hit by offshore tax avoidance legislation proposed by HM Revenue & Customs, generating up to £50m a year in tax receipts.
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Zurich sells Openwork stake in early exit
Zurich has sold its 25% stake in Openwork two years earlier than expected, handing majority ownership to the IFA network’s partners.
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Property fund slams closure of Serious Fraud Office case
An investigation into allegations of fraud against investment companies operated by Guernsey-based Stirling Mortimer has been closed by the Serious Fraud Office due to insufficient evidence – a decision that has been strongly criticised by the fund house.
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Politicians excluded from Pakistan tax amnesty
Senior government officials, politicians and holders of public office cannot take advantage of a new Pakistani tax amnesty, the country’s taxman has confirmed.
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Fairstone poised to buy nine IFAs this year
Fairstone is set to acquire IFA firms in Leicester and Stockton-on-Tees and anticipates it will line up seven more acquisitions this year.
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UAE advisers made ‘scapegoats’ for offshore providers
A private equity firm says UAE financial advisers are “under fire” and being unfairly blamed for problems that stem from offshore providers offering limited investment products.
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Old Mutual Int’l to sue over structured product commission
Old Mutual International is taking legal action against Swiss-headquartered Leonteq Securities relating to false statements about the levels of commission paid to advisers on structured products, International Adviser can reveal.
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Financial advice is the star in new US TV show
New York Yankees star Alex “A-Rod” Rodriguez turns his hand to financial advice in the pilot of a new US TV show.