Axa Wealth adds AllianceBernstein funds to wrap platform
Axa Wealth has added 11 AllianceBernstein funds to its wrap platform following this year’s pension reforms, their first offering to the UK retail investment market.
Axa Wealth has added 11 AllianceBernstein funds to its wrap platform following this year’s pension reforms, their first offering to the UK retail investment market.
The UK wealth planning arm of South African insurance giant Sanlam Group has expanded its assets in Britain to over £1bn with the acquisition of an advice firm in southern England.
The majority of UK-based advisory firms receive most of their recurring revenue from fees, a sure sign that many have made significant changes to their business models in the run up to next year’s ‘sunset’ deadline.
Wealth management and financial advice firms have been snapping up their peers at some rate in the post RDR world, but in recent months this has been kicked up a gear.
Axa Investment Managers expects to lose more than two thirds of the €50bn it manages for Friends Life to Aviva Investors following the latter’s acquisition of Friends Life earlier this year.
British insurer Legal & General boosted net profits by 8% in the first half of 2015 due largely to growth in its international fund management operations and demand from UK firms looking for help with defined benefit pension schemes.
QROPS provider Momentum Pensions Group has introduced two new pension schemes after securing a majority stake in its UK self invested personal pension (SIPP) business last month.
British insurance giant Standard Life said its asset management arm saw 70% of its net inflows come from outside the UK during the six months to June.
The British Government has announced a major review of the regulatory and legal framework governing the whole financial advice industry.
The UK Government has proposed three solutions to combat “excessive” early exit charges on pension schemes following fears they are restricting access to the new retirement flexibilities.
The case of a woman who secured £164,000 from her mother’s will despite being excluded from it has led the life industry to recommend trusts as a more secure way to distribute wealth upon death.
Independent financial advisory firm deVere Group said it has temporarily suspended an affiliated web site that offered information and advice on UK pension transfers into Qualifying Recognised Overseas Pension Schemes (QROPS)