Quilter doubles DB legacy contingency fund to £24m
As the firm moves from ‘significant advice business acquisitions’ to focus on organic growth
FCA
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Illegal pension introducers to pay over £10m to clients
As FCA wins high court case against the two companies
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Investors net £30m in savings from value assessments
More than 320,000 retail customers switched into cheaper share classes after FCA crackdown
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Over 100 advice firms currently under investigation
UK regulator says that cases are not ‘solely confined to concerns about potential misconduct’
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Open-ended property funds will become ‘unappealing’
FCA six-month notice period proposals might ‘spare fund management groups a few blushes’
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FCA seeks to resolve property fund ‘liquidity mismatch’
‘Reducing the number of suspensions and preventing unsuitable purchases’
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Investors seek government intervention on mini-bonds
They have started a petition to get the products regulated and victims compensated
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SJP questioned over how it addressed FCA requirements
Firm creates confusion by using bundled fees to compare its funds to rivals without advice offerings
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More than 24 million vulnerable clients in UK, says watchdog
‘Pressure is on for companies, government and charities to tackle’ this growing problem
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Advice firm sees 140% increase in regulatory fees
Industry needs to brace itself because ‘the prospect of any change soon is extremely unlikely’
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Advisers forked out £110m on PI insurance in 2019
Average premium across the industry was £24,079
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Quilter stops network IFAs from offering DB transfers
But it is ‘committed’ to providing the service through its restricted financial planners