FCA sets £74m levy on advisers
Financial advisers will have to pay a £73.7m levy to fund the Financial Conduct Authority’s (FCA) £518.9m budget for 2016/17, according to plans laid out by the regulator.
Fees
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OMW caps exit fees for customers aged 55+
Old Mutual Wealth is reducing its exit fees on traditional UK pension contracts, putting a 5% cap in place for all customers aged 55 or older.
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South Korea to introduce fee-based IFA model
South Korea’s Financial Services Commission (FSC) has announced plans to overhaul the country’s financial advisory sector, with IFAs set to provide independent advice while adopting a new fee-based only regime similar to the UK.
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UK pension advisers ‘caught out’ by unexpected Sipp charges
More than a third of pension advisers in the UK admit that they have been ‘caught out’ by unexpected charges on self-invested personal pension (Sipp) wrappers, research by retirement specialists Momentum Pensions shows.
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ANALYSIS: Time running out for Europe’s closet trackers
With returns from European equities distinctly harder to come by than during the QE inspired climb last year, active funds falling short in active share terms are going to find investors less forgiving.
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Wealth management fees hit 5-year high in Singapore
Wealth management fees more than doubled between 2010 and 2015 at Singapore’s three banks, as Asia Pacific surpassed North America as home to the largest number of high net worth individuals.
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A third way: Turning their backs on commission
James Pearcy-Caldwell, co-founder Aisa, explains why he backs fees over commissions and how his evolving network offers a halfway house for advisers working in Europe.
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UK government moves to cap early exit pension charges
UK chancellor George Osborne has announced plans to introduce legislation to give the Financial Conduct Authority (FCA) the power to cap excessive early exit charges for those eligible to access their pension pots under the new pension freedoms.
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JFSC’s structure changes, trust company fees set to rise
The Jersey Financial Services Commission (JFSC) has announced changes to the structure, processes, and systems it uses to regulate the island’s international financial services industry.
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Schroders says segmentation rise could spark vertical integrator push
Investment IFA fees are creeping up and smaller clients are increasingly being shown the door according to the Autumn/Winter 2015 Schroders Adviser Survey.
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HSBC slashes fees on three index tracker funds
HSBC Global Asset Management has halved the fees on three of its main developed market tracker funds, joining a growing list of ETF providers cutting charges.
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OMGI revamps Generation range, removes income targets
Old Mutual Global Investors has removed the income targets from its Generation range of multi-asset funds, formerly run by John Ventre.