As the Financial Conduct Authority (FCA) finalises its policy paper on defined benefit (DB) pension transfers, experts hope it will bring some certainty to an industry that has been in a constant state of flux since 2015.
Almost £17.5bn (€20bn, $24.3bn) has been withdrawn from pensions since the freedoms were launched three years ago, according to the latest figures from HM Revenue & Customs.
Ad-hoc pension withdrawals could be overtaxed in the new tax year by thousands of pounds, AJ Bell has warned.
AJ Bell has brought in a legal ringer ahead of its initial public offering, Charles Stanley has bolstered its Edinburgh office with three ex-Tilney people and Intertrust has appointed a director to support clients who need to defer bonus payments.
The Financial Conduct Authority (FCA) has “no immediate plans” to ban trail commission on legacy investment products, it has announced in a policy statement that looks to shake-up the asset management industry.
Invesco Perpetual is expected to cut its 44% stake in AJ Bell, alongside second-largest shareholder Andy Bell, to make it easier for smaller investors to get in on the firm’s IPO.
The Pensions Ombudsman has ordered AJ Bell to compensate a client for lost interest and pay him £500 ($709, €570) for “significant non-financial injustice” after the investment platform failed to notify him the interest rate of his account would drop to 0%.
The Financial Conduct Authority has released figures on pension freedoms that product providers have described as “concerning” and “do not make for comfortable reading”. International Adviser spoke to industry experts to get their thoughts on the data.
With a recent spate of initial public offerings (IPOs) and planned listings from Transact, AJ Bell and Nucleus, industry experts share their thoughts on what this means for the future of platforms.
Neil Woodford sold out of AJ Bell just before the broker and platform provider confirmed plans to float on the London Stock Exchange.
Investment platform AJ Bell, which sits on assets under administration of close to £40bn ($55.8bn, €45bn), is considering plans to float on the public market, according to reports.
Friday 16 February marks the Chinese New Year, with 2018 welcoming the Year of the Dog. However, while the dog is associated with honesty, faithfulness, and a strong sense of responsibility in the Chinese zodiac, investors will be hoping for a repeat of 2017 – the Year of the Rooster – which saw the MSCI…
