A failed merger between Lloyds Banking Group’s subsidiary Scottish Widows and Standard Life Aberdeen’s pension and assurance arm was behind the FTSE 100 bank’s decision to terminate its contract with the fund group, it was revealed over the weekend.
Standard Life Aberdeen has lost its biggest client, Lloyds Banking Group (LBG), after the FTSE 100 bank decided to pull more than £100bn assets over competition concerns.
Standard Life’s financial planning arm, 1825, has struck a deal to acquire a financial management firm, adding £400m to its assets under advice.
Advisers will be able to illustrate real time and future financial events to support the advice process pre- and post-retirement by using a new cashflow modelling tool on the Standard Life Wrap platform.
Advisers must stay on the ball as the UK regulator continues to tweak pension transfer rules in an attempt to get a handle on this rapidly evolving sector.
Standard Life’s restricted advice arm 1825 has announced a reshuffle of senior management roles.
Investment giant Standard Life Aberdeen has hired a director for its onshore China business, while HSBC Private Banking has appointed a head of funds and Etfs and Aviva Investors has added a head of multi-asset products.
Small and expensive, are funds that have failed to hit £10m ($13m, €11m) in assets just clogging up the investment universe?
The formation of investment giant Standard Life Aberdeen has been finalised, the company confirmed on Monday.
Sales of offshore bonds rose by 60% in the first half of 2017, with new business through Canada Life International’s Isle of Man and Dublin-based offshore businesses hitting £566m ($736m, €626m).
Millions of pension savers cannot take advantage of a tax break designed to help them pay for financial advice because major providers including Aviva, Aegon, Fidelity, Legal & General, Prudential and Royal London are not offering it to customers, reports the Financial Times.
The International Monetary Fund’s decision to downgrade the UK’s growth forecast for 2017 was likely a wake-up call for some investors. But is it a signal of more dire times ahead? Or just another year of mediocre growth?
