ABI urges UK Gov’t to hold fire on second-hand annuities
The Association of British Insurers (ABI) has urged the UK Government to hold fire on its 2016 roll-out of a second-hand annuity market so it can properly ensure consumer protection.
The Association of British Insurers (ABI) has urged the UK Government to hold fire on its 2016 roll-out of a second-hand annuity market so it can properly ensure consumer protection.
UK-based advisory network, Sesame, is to shut down one of its offices by the end of the summer and is currently consulting staff as it prepares to close its network for wealth firms.
The gender imbalance in UK financial services does not need to be addressed, according to the majority of industry professionals responding to a new study.
Guernsey’s fund industry has seen steady growth so far this year, with total funds under management increasing by £2.8bn to reach £222.2bn.
Free and low-cost pension support services have taken off as more UK consumers look for alternatives to traditional financial advice and the governmental initiative, Pension Wise.
Lloyds Bank has announced an expansion of its London Expat Service to tap to the growing number of high net worth individuals moving into the UK.
UK-based platform provider Novia has seen the number of exchange-traded funds (ETFs) selected by advisers soar over the last year, but the firm’s chief executive said more needs to be done to familiarise IFAs with the products.
The Financial Conduct Authority (FCA) has rejected calls for a freeze in its fee hikes and has confirmed a 10.2% increase in 2015/16 for financial advisers.
UK customers invested in unregulated collective investment schemes (UCIS) are increasingly questioning the advice they were given after being alerted by a new rule change, the Financial Ombudsman Service (FOS) has warned.
The number of raids on premises carried out by HM Revenue & Customs during investigations into tax evasion has increased by nearly 20% from 500 in 2013/14 to 593 last year.
Senior industry figures have agreed that the regulatory and legal requirements around the new pension freedoms pose a problem for policyholders, but are split on the ABI urging the UK Government to scrap paid advice for those with guaranteed annuity rates.
The Association of British Insurers (ABI) has urged the UK government to drop the need for pension holders with guaranteed annuity rates to pay for advice.