Bond surrender: Technical briefing with Prudential
Partial surrenders of life assurance and similar policies create huge tax traps, which means advice on exit is just as important as it was at inception.
UK Adviser
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Old Mutual Wealth recruits Architas investment specialist
UK-based Old Mutual Wealth has hired former Architas investment development manager, Andrew Miller, to work with financial advisers to help improve the firm’s investment solutions.
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Fraudster gang faces jail terms over £4.3m UCIS losses
Eight fraudsters face a combined total of 26 years’ imprisonment after the UK’s Financial Conduct Authority found they lost over £4.3m of investors’ money in their unauthorised collective investment scheme (UCIS).
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Financial industry concerned over FCA complaint reforms
A user group of representatives from the UK financial services industry has expressed concerns over the additional workload and costs likely to be created by the Financial Conduct Authority’s proposed reforms to the way complaints are handled.
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PFS calls for crackdown on ‘worrying’ unregulated activity
The Personal Finance Society has demanded stricter controls on non-regulated savings and investments to prevent “scammers” from taking advantage of UK consumers.
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One in seven unprepared for retirement, says Prudential
Of those people in the UK who are planning to retire this year, 15% have no pension savings, research from Prudential has revealed.
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RSA completes sale of China insurer Sun Alliance
London headquartered-RSA Insurance Group has completed the sale of its China-based business, Sun Alliance Insurance, as it continues to focus on its core markets and “clean up its past weaknesses”.
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Advisers are the RDR winners, says Brooks Macdonald Int’l
Financial advisers are the real winners in the wake of the UK’s Retail Distribution Review, according to Brooks Macdonald International’s Darren Zaman.
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Harwood Capital buys Wellian as DFM arm
Harwood Capital Management has bought Wellian Investment Solutions, for an undisclosed sum, in an effort to add discretionary management to its suite of offerings.
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Guernsey funds bolster UK growth, says KPMG
Guernsey funds drive £25bn of investment into the UK from global investors, according to a report from financial services giant, KPMG.
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UK election result puts IHT and pension tax in spotlight
The surprise majority victory by the Conservative Party in the UK general election could mean changes to inheritance tax rules and tax relief on pensions are more likely, though initially for most financial advisers the outcome simply means business as usual.
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Non-doms move toward mortgages for UK property funding
Non-UK resident individuals are increasingly seeking mortgage finance to fund their UK residential property purchases due to the introduction of the Annual Tax on Enveloped Dwellings (‘ATED’) and the advanced rate of stamp duty land tax for property purchased via certain ‘non-natural persons’, says law firm Edwin Coe.