News by: Michelle Abrego
Complaints against financial firms have fallen by 15% according to the Financial Conduct Authority (FCA).
Advisers have welcomed Financial Conduct Authority plans to review due diligence, the at-retirement market and in-house funds, despite its closed-book blunder.
The Financial Conduct Authority has appointed law firm Clifford Chance to conduct an independent inquiry into its announcement of its closed-book life policies review.
Insurers can deliver the government's guidance guarantee as long as there are proper impartiality controls in place, said the Association of British Insurers.
London-based advice firm Merlin Financial Consultants is pursuing a former adviser for £224,000 over allegedly soliciting clients.
True Potential has hired former Scottish Widow investment director Colin Beveridge as and ex-BlackRock compliance officer Sheriden Davy to bulk up its management team.
Firms are failing to transition from selling products to providing advice, causing the Financial Conduct Authority to lose patience with the advice profession, according to Ernst & Young.
The latest thematic review by the Financial Conduct Authority has found ‘too many advisory firms are not being clear’ with clients on charges and services. The regulator has put these failings down to a ‘lack of engagement’ with its guidance on disclosure.
The Financial Conduct Authority has found that ‘too many advisory firms are not being clear’ with clients on costs, service and status. Out of the 113 firms it reviewed the regulator found that 73% failed to provide the required information on the cost of advice. Click through to see a breakdown of the FCA’s findings.
The Financial Conduct Authority has found that ‘too many advisory firms are not being clear’ with clients on how much advice costs, the type of service they offer and what ongoing services they provide.
The Chartered Insurance Institute’s standards board saw a drop in disciplinary cases and advisers defaulting continuing professional development requirements.
The Financial Conduct Authority has appointed former Association of British Insurers director Maggie Craig to lead the regulator’s work on the at-retirement guidance guarantee announced in the Budget.
Paraplanner Rebecca Lucas, who launched Lime Paraplanning last year, has taken the first step towards expansion by hiring former co-worker Nicky Fisher.
The Financial Conduct Authority has banned a Chester-based insurance broker from undertaking any regulated activity and fined him £70,000.
Ingenious Asset Management and Thurleigh Investment Managers are set to merge and combine their assets for a total of £1.8 billion in funds under management.
Resolution’s founder Clive Cowdery made almost £200,000 on shares he bought during the market sell-off following the reports of the Financial Conduct Authority’s closed-book insurance review.
The Association of Professional Financial Advisers has welcomed the reduction in advisers’ regulatory fees but called on the Financial Conduct Authority not to raise them again for three years.
Auto-enrolment pension scheme providers will need to reconsider their investment strategies in light of the changes to the pensions regime announced in the Budget, according to Legal & General and the National Employment Savings Trust.
The Pensions Advisory Service chief insists her team have the expertise and structures in place to provide free pensions guidance, but seeks support from advisers.
Pension reforms announced in the Budget are a significant opportunity for advisers and providers, according to pension minister Steve Webb.