UK advisers to shun simplified ‘core advice’ model
‘Targeting more wealthy clients’ and ‘fees will be too low’ are main arguments against the FCA’s plans
Fees
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FCA to unveil £5,000 fee for financial promotion applications
Following amendment to prohibit firms undertaking marketing on behalf of unauthorised businesses
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FCA fees increase by £17.2m
As regulator looks to reduce sums paid by smaller firms and appointed representatives
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Clients want to pay a fixed fee for on-demand advice
And majority prefer to stick with face-to-face meetings
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FCA increases adviser fees to £86.5m
Watchdog will create 80 roles to help shut down firms that do not meet minimum regulatory standards
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Aussie regulator sues superannuation trustee firm
It alleges the company charged over A$4m in fees for no service
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FCA eyes increase to financial services regulatory fees
Watchdog expects to implement changes for 2022/23
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Just 7% of Brits paid for financial advice in past two years
‘Memories of a sales and commission driven culture at some firms’ has ‘damaged people’s view’ of industry
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Fee disclosure failures see NAB hit with A$18.5m fine
Misleading statements ’caused harm to customers’ says regulator
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Jersey trust company censured for cross charging clients
Fees were deducted but unnecessary services were provided – or none at all
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Aussie wealth manager revamps its financial advice model
It will give advisers ‘increased choice, flexibility and transparency with how they partner’ with the firm
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Vanguard unveils advice service for UK retirement savers
It ‘will be at an all-in cost of just 0.79%’