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.
The value of pensions being transferred out of defined benefit (DB) schemes is greater than the average cost of a house in the UK, research from Royal London has found.
UK insurance giant Royal London has created life cover specifically designed for people with Type 1 and Type 2 diabetes, which the life insurer describes as a first for the British protection market.
Royal London has reported a 28% rise in new life and pensions business to £8.6bn (€9.9bn, $10.6bn), driven by strong sales from UK financial advisers.
The number of people breaching the annual allowance has jumped by almost 80% for the 2014/15 tax year, data from HM Revenue & Customs (HMRC) has shown.
Retirement income products with guarantees, offered by many life companies in the UK as an alternative to the old fashioned annuity, do not offer value for money in most cases, according to a study by Milliman, an international consultancy group.
After Deutsche Bank’s head of anti-financial crime stepped down just six months into the job, the German bank has named his replacement. RLAM has created a global equity team by poaching three staff from Waverton IM, while J. Safra Sarasin has a new managing director for client advisory in Hong Kong.
Former UK pensions minister Steve Webb has been awarded a knighthood for political and public service in the Queen’s New Year honours list.
Today’s people moves column boasts an embarrassment of riches as the industry seems to be getting its house in order before the Christmas break. Former Zurich man Andy Robinson has resurfaced, while MetLife has named a chief executive in Hong Kong. Lombard Odier’s new chief operating officer has left the world of haute couture to…
UK investment house Royal London Asset Management (RLAM) has announced that total funds under management by the group has exceeded £100bn for the first time.
Waves of changing legislation have made pensions and Isas incredibly and unnecessarily complicated, discouraging people from saving, says Andy Bell, chief executive of investment platform AJ Bell.
The UK government is considering a number of new pensions options ahead of the Autumn Statement, including one from Hargreaves Lansdown that proposes breaking the link between tax relief and earnings, instead using a system based on the age of the saver.
