Tech shunned for traditional advice
Most Brits concerned robo-advice may not be entirely appropriate for their financial needs
Openwork
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PEOPLE MOVES: Natixis IM, Openwork, M&G Investments
French firm makes c-suite changes, while UK financial advice network hires COO
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Openwork boasts circa 3,900 advisers
As its training academy produces more than 150 graduates in five years
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Only 48% of IFAs would recommend it as a career
But Openwork sees the number as positive and a ‘testament’ to the sector
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PEOPLE MOVES: Zurich, Openwork, Intelliflo
Swiss insurance giant bolsters its Middle East operation, as IFA network makes double hire
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Brits unsure where to access financial advice
Lack of trust and understanding of the industry creating additional barriers
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Guernsey stock exchange claps back at FCA over Woodford
While Omnis Investments drops the fund manager from its £330m fund
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Depleting IFA numbers on collision course with rising demand
Are advisers too quick to sell their businesses with future clients waiting in the wings?
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PEOPLE MOVES: Standard Life, UBS, DWS
Standard Life Aberdeen appoint UK propositions manager, while UBS Asia appoints new president
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Zurich sells Openwork stake in early exit
Zurich has sold its 25% stake in Openwork two years earlier than expected, handing majority ownership to the IFA network’s partners.
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Downward trend in Ombudsman complaints
Complaints about advice companies made to the UK’s Financial Ombudsman Service (FOS) eased across the board in the second half of 2017, while Aviva and Barclays bucked the trend and saw complaints rise, according to updated figures.
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Mortgage advisers upskill as wealth advisers through Openwork
The first group of candidates have embarked on Openwork’s “Route to Wealth”, a study programme that supports firms upskilling their mortgage advisers to become fully qualified wealth advisers.