Advisers brace themselves to explain Mifid II transaction charges
Advisers and consultants have voiced concerns about the consistency and accuracy of information amid fears that the broader investment industry will take another reputational hit.
Advisers and consultants have voiced concerns about the consistency and accuracy of information amid fears that the broader investment industry will take another reputational hit.
An adviser has failed to secure compensation for his clients after claiming that Zurich Assurance applied “unfair renewal terms” on their whole-of-life assurance plan, despite admitting that he misled them about the nature of their policy.
The UK Government has removed an amendment to the Financial Guidance and Claims Bill, that would have required people taking benefits under the pension freedoms or transferring benefits to be automatically enrolled into guidance.
Four times as many high net worth individuals left the UK in 2017 than arrived, according to research from Johannesburg-based New World Wealth (NWW).
St James’s Place (SJP) Wealth Management has more than £90bn (€102bn, $127bn) of group funds under management, making 2017 a record year for the restricted advice company.
Hansard Global is still recovering from losing a major distribution partner in the Middle East, as it reports low-level growth in new business premiums for the second half of 2017.
European active equity funds saw a turnaround in net flows during 2017, enjoying a rise of €135.8bn in net new money to €62.7bn, after suffering an outflow of €73.1bn in 2016, according to Morningstar data.
The Pensions Ombudsman has not upheld a complaint from a client and ex financial adviser accusing AJ Bell of poor service, negligence, maladministration and misconduct, which saw the investment firm take the “unprecedented decision” to end its relationship with him.
The Financial Conduct Authority is “comfortable” allowing Priip manufacturers and advisers to provide “explanatory materials” where there are concerns that performance scenarios in mandatory key information documents (Kids) are too optimistic.
While the transaction costs uncovered by Mifid II and spotlighted by the Lang Cat’s analysis on 20 of the most influential UK retail funds have revealed the industry’s lack of transparency, they have also generated more questions without obvious answers.
More than two thirds of UK consumers with assets of more than £325,000 ($454,305, €370,339) do not know their estate may be liable for an inheritance tax (IHT) bill, according to research by Canada Life.
American citizens living outside the US often have their financial lives made more complex by local advisers who do not appreciate their need for joined up advice to avoid negative tax treatment by US or local authorities.