Trust in pension advice being destroyed warns advice firm boss
The public’s trust in pension advice is being destroyed by “so-called industry experts”, the boss of retirement advice firm UK Workplace Solutions has warned.
The public’s trust in pension advice is being destroyed by “so-called industry experts”, the boss of retirement advice firm UK Workplace Solutions has warned.
The UK’s Financial Ombudsman Service has upheld a complaint about the unsuitable transfer of investments worth around £200,000 ($260,869, €221,431) made against Attivo Financial Services.
Employee incentive arrangements where workers are paid using gold bullion are “abnormal” and not a “reasonable course of action”, according to an independent panel set up to advise the UK government on disputes over potentially abusive tax arrangements.
An Isle of Man judge has ruled that the liquidator appointed to the collapsed Eco Resources Fund should be replaced despite objections from the island’s Financial Services Authority (IoMFSA).
Millions of pension savers cannot take advantage of a tax break designed to help them pay for financial advice because major providers including Aviva, Aegon, Fidelity, Legal & General, Prudential and Royal London are not offering it to customers, reports the Financial Times.
The Netherlands and the UK facilitate global tax avoidance by acting as conduits for 37% of corporate money heading to tax havens, research by academics at the University of Amsterdam shows.
Updated guidance on how UK advisers should deal with clients who insist on going against their advice has been welcomed as “common sense” by Old Mutual Wealth’s chief distribution officer Richard Freeman.
Investors in collapsed Costa Rican tree investment group Ethical Forestry have been urged to make claims for compensation on the grounds that their original investment could have been mis-sold.
Australian investment manager Antipodes Partners has launched a global equity fund to the UK market ahead of plans to expand its London office later this year.
HM Revenue & Customs’ list of recognised overseas pension schemes (Rops) has grown by 10% on the back of more schemes from Australia and the Isle of Man being added. This rise, however, follows official figures showing that the number of Qrops transfers hit its lowest level for six years last year.
Another British financial advice firm has been stopped from carrying out defined benefit (DB) transfer advice by the Financial Conduct Authority (FCA), as Standard Life calls for greater flexibility.
An estimated one million people have opted for self-invested personal pensions (Sipp) as they offer a wide choice and the freedom to invest almost anywhere. Hargreaves Lansdown have put together some of the lesser-known facts about the increasingly popular retirement vehicle.