Do expensive funds provide value for money?
When investors decide to buy a fund that charges higher-than-average fees, they presumably do so because they expect the manager to compensate for this by delivering outperformance.
FCA
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FCA backs all-in fee in scathing report on UK funds industry
The Financial Conduct Authority has confirmed plans to crackdown on excessive fund charges in a damning final report on the UK’s £7trn asset management industry, and outlined plans to investigate the investment platform industry.
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Five groups most at risk in the FCA asset management report
With the final report from the FCA’s market study of asset management due on Wednesday morning, speculation is rife about what the long-awaited recommendations could say. We look at the five groups who could face the repercussions.
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Up to £50bn pulled from DB schemes in pension transfers
The amount of money being withdrawn through transfers from defined benefit (DB) pension schemes in the UK has reached a record £50bn since the pension freedoms came into force, according to new figures released by professional service group Mercer.
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Pension transfer advice rules were ‘past sell-by date’
The financial planning industry in the UK has welcomed the FCA’s plans to overhaul advice on pension transfers, with many describing the reforms as long overdue.
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Overseas pension transfers more complex under new FCA rules
Transfers to overseas pensions are likely to become even more complicated following proposals from the Financial Conduct Authority to overhaul pension transfer advice in the UK.
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FCA to overhaul pension transfer advice rules
Advice on pension transfers is to be provided as a personal recommendation and transfer value analysis replaced with a comparison to show the value of the benefits being given up under plans announced by the UK regulator on Wednesday.
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PEOPLE MOVES: Cazenove Capital, Legg Mason, Investec AM
Schroders’ Cazenove Capital has appointed a UK chief executive, while Legg Mason has named a head of UK sales. Investec Asset Management has raided Threadneedle for a portfolio manager for its UK smaller companies fund.
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Firms must take action now on Mifid II permissions says FCA
Firms that need to change their regulatory permissions to comply with Mifid II must act now, the UK’s Financial Conduct Authority has warned.
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Holborn Assets ‘temporarily’ ceases all regulated UK activities
Holborn Assets Ltd has applied to the Financial Conduct Authority to temporarily cease all of its regulated activity with immediate effect, but has no plans to close its UK operations, managing director Christopher Wicks confirmed to International Adviser.
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FCA orders another UK firm to immediately cease pension advice
The Financial Conduct Authority has ordered Glasgow-headquartered Intelligent Pensions to stop providing pension advice in the latest in a series of actions taken by the UK watchdog to clamp down on pension transfers.
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Commission still makes up 25% of revenue for UK IFAs
Financial advisers in the UK still earn a quarter of their income from commission, according to latest figures from the Financial Conduct Authority (FCA).