Prudential’s decision to spin-off and float its UK asset management and savings arm was met with widespread approval from investors. But how many of them will continue to invest in the life insurer’s “neglected” business when it lists?
Prudential is selling £12bn ($16.7bn, €13.5bn) of its UK annuity portfolio in a landmark deal to Rothesay Life, as part of a major revamp that will see its UK and Europe business, M&G Prudential, become a separately-listed company.
Eastspring Investments has joined the growing list of foreign asset managers who have set up an investment management wholly-foreign owned enterprises (IM Wfoe) in China.
Nedbank Private Wealth is changing its managing director, Prudential appoints a chief risk officer and HSBC names its head of financial crime risk transformation for the Isle of Man and Channel Islands.
Advisers should act now to make sure their clients make the best use of allowances as the countdown starts for the end of the UK tax year. Click through the slides to see the Prudential technical team’s list of actions advisers should consider.
Two out of five UK advisers are working longer hours in 2017 due to business growth, increased compliance and regulatory requirements, research from Prudential has found.
With the budget lacking much detail, the financial services industry has been left to ponder what the chancellor actually meant when he said the government will publish a consultation in 2018 on how to make the taxation of trusts simpler, fairer, and more transparent.
It is “business as usual” for UK pensions as no major changes were included in the Autumn Budget by chancellor Philip Hammond, although some small tweaks were made to the lifetime allowance, asset management and the personal income allowance.
Robo-advice trust, Brexit certainty and profession growth were all major topics covered in Prudential’s latest report on the key issues facing financial advisers in 2017.
Not enough is being done to attract new recruits to the UK financial advice sector, despite increasing optimism that the industry will continue to grow, Prudential has found.
Advisers need clarity and reassurance on defined benefit transfers, the FCA has been told by the pensions industry in response to its consultation on update existing guidelines around advising on DB transfers.
Insurance companies in Malaysia are looking to sell just under a third of their local businesses to comply with a 70% cap on foreign ownership.
