Cofunds posts surge in pre-tax profit for 2014
UK investment platform Cofunds has reported an 83% increase in pre-tax profits of £7.7m for 2014 due in part to a big growth in retail pension assets using its service.
UK Adviser
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FPI Van Der Wielen to leave
Friends Provident International’s executive chairman John Van Der Wielen is to leave the group, as shareholders yesterday backed Aviva’s takeover deal of Friends Life.
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FCA to increase adviser fees by 10
The UK Financial Conduct Authority has outlined plans to increase the adviser regulatory levy by 10% to reach nearly £75m.
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FCA to make annuity providers rank their products
Annuity providers in the UK will be required to rank their product against their competitors in order to help consumers find out if they can get a better deal by shopping around.
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FOS freezes adviser levy and cuts budget
The Financial Ombudsman Service has frozen its compulsory levy which is partially funded by advisers and will cut its budget by 11% over the next tax year.
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Extradited IFA pleads guilty to Ponzi scam
A British-based financial adviser, who fled to Malaysia after his company collapsed, has confessed to setting up a Ponzi scheme which inflicted millions of pounds in losses on investors.
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Advisers lose faith in global and local economies
Advisers across the world have lost confidence in the global economy and the local economy in which they operate, a survey by Old Mutual International has revealed.
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DeVere set for aggressive UK expansion
International advice firm deVere has announced plans to “aggressively develop” in the UK and capitalise on the area’s improving economy and pension changes.
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Dont confuse volatility risk ahead of election
With the UK General Election just over six weeks away and the outcome still wide open, M&G Investments Steven Andrew is looking to use volatility to his advantage.
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UK govt kicks off annuity sale market
The UK governments last budget before the election revealed plans to extend its pension reforms to allow existing annuity holders to sell their contracts from 2006, offered a range of new incentives to save and tightened rules on tax avoidance.
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HMRC sees fall in tax evasion info requests to
HM Revenue & Customs contacted foreign governments on 490 separate occasions in one year as it sought information on suspected tax evasion, a drop of 150 information requests compared to the previous year.
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Govt report set to criticise
The UK’s financial watchdog will face “serious criticism” this week over its announcement of an inquiry which caused stocks to plummet across the insurance market, reports suggest.