Mifid II unbundling to go global
The US and Asia could be subject to similar research unbundling rules as Europe under Mifid II by 2022, a survey by a research platform provider has shown.
Mifid
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Faulty Aviva platform sends advisers false 10% drop warning
Aviva has been forced to issue another apology to advisers after they were wrongly sent a notification that the value of their clients’ portfolios had dropped by more than 10%.
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Morningstar launches adviser fund selection tool
Morningstar has set up a business unit for financial institutions and advisers seeking to outsource fund selection and asset allocation.
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OMW hits pause on pension transfer service
Old Mutual Wealth is the second provider in a 24 hour period to suspend its transfer value analysis service (Tvas), following the Financial Conduct Authorities (FCA) new rules on pension transfers.
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FCA boss rejects Mifid II enforcement at all costs
FCA chief executive Andrew Bailey has rejected arguments Mifid II rules should be implemented whatever the cost to markets.
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EU advisers face VAT fees after ‘historic’ Italian ruling
The Italian tax authority has ruled that independent financial advisers are subject to VAT fees, setting a legal precedent for other EU nations to adopt.
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Novia rolls out Mifid II compliance reporting tool
To meet Mifid II’s so-called “10% depreciation rule”, Novia Financial is rolling out a solution for DFMs and advisers using its platform.
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IFAs should disclose 10% drop in performance
IFAs offering advised investment portfolios should consider matching DFMs by voluntarily disclosing any 10% falls in value to clients, says investment expert Graham Bentley.
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Mifid II will kill fund price herding: Nucleus CEO
Mifid II will kill the mistaken notion that all funds cost the same, Nucleus chief executive David Ferguson says.
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Advisers brace themselves to explain Mifid II transaction charges
Advisers and consultants have voiced concerns about the consistency and accuracy of information amid fears that the broader investment industry will take another reputational hit.
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Hidden fees leave more questions than answers
While the transaction costs uncovered by Mifid II and spotlighted by the Lang Cat’s analysis on 20 of the most influential UK retail funds have revealed the industry’s lack of transparency, they have also generated more questions without obvious answers.
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Industry could be overstating Mifid II costs
The trading costs being disclosed by fund managers under Mifid II rules may be overstating the real cost of trading and remain a forecast figure for the next 12 months, a paraplanner has warned.