Is the FCA barking up the wrong tree over platforms?
The Financial Conduct Authority wants to use the platform review to drive more competition in the asset management sector, but experts are asking whether it is looking in the wrong place.
Hargreaves Lansdown
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UK watchdog throws out Qrops case against Hargreaves
The UK’s Financial Ombudsman Service (FOS) has rejected a complaint against Hargreaves Lansdown after a client accused the platform provider of unnecessarily delaying a transfer of his pension into a Qrops.
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UK finance industry conflicted over asset management review
Plans by the UK’s Financial Conduct Authority to crackdown on excessive asset management fund charges and improve competitiveness in the sector has been met with a flurry of contradictory responses from different parts of the financial services industry.
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Hargreaves Lansdown adds bitcoin tracker to platform
Hargreaves Lansdown, which operates the UK’s biggest online trading platform, is to allow clients to invest in a dedicated bitcoin Exchange Traded Note (ETN) through its SIPP and brokerage services.
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PEOPLE MOVES: Standard Life, Hargreaves Lansdown, Franklin T.
Standard Life Investments hires an ex-JP Morgan executive director, as Hargreaves chairman Mike Evans reveals he will be stepping down. Franklin Templeton poaches a key figure from Aberdeen Asset Management while DFM Beaufort has hired a new investment manager.
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PEOPLE MOVES: Hargreaves, LV=, Neptune, Sanlam
Investment platform Hargreaves Lansdown announced a major recruitment drive in its marketing team, while state-backed UK agency Nest poaches LV=’s head of pensions. Neptune hires former M&G head as a special adviser as Standard Life makes a round of promotions.
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Aberdeen outflow respite down to currency moves
Aberdeen Asset Management has said its outflows slowed in the second quarter to £2.5bn ($3.2bn, €3bn), but analysts said they doubt this reflects a true change in client sentiment.
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Pension freedom withdrawals break through £10bn barrier
UK consumers withdrew £10.8bn ($13.8bn, €12.7bn) from their pensions during the first two years of the pension freedoms.
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UK pension transfer risks rise for investors and advisers
The sharp increase in people transferring out of defined benefit (DB) pension schemes poses risks for investors and the industry, says Tom McPhail, head of policy at Hargreaves Lansdown. His warning comes as the UK’s pension transfer industry remains under close regulatory scrutiny.
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UK’s Lifetime Isa may help advisers in retirement planning
The new Lifetime Isa (Lisa) could prove a useful tool for financial advisers when retirement planning, according to Ollie Smyth of UK-based IFA firm Walker Crips Wealth Management.
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Five ways to benefit at the pension last chance saloon
Pension savers in the UK have up until midnight on 5 April to maximise their contributions to offset this year’s tax bill, says Nathan Long, senior analyst at Hargreaves Lansdown. Here he suggests five ways savers can make the most of their unused allowances.
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PEOPLE MOVES: LGIM, Brewin Dolphin, US SEC
Legal & General Investment Management has created a new head of personal investing for its UK direct business, while Brewin Dolphin’s chief operating officer is to depart. The exodus continues from the US Securities and Exchange Commission.