The number of pension withdrawals continued to soar in the third quarter of 2018 leading to suggestions that some pensions savers are treating their pensions like bank accounts, tapping them for cash when they need it.

AFH, the acquisitive Chartered Financial Planner-led business, is to take over Harrogate-based Premier Wealth Management in a deal worth up to £4.5m.

The Bank of England’s Monetary Policy Committee has voted 9-0 to maintain the bank base rate at 0.75%.

Hashmukh Shah, a 63 year old accountant for a London cafe, has become the first person to fined by The Pensions Regulator (TPR) for pensions auto-enrolment offences related to working on behalf of an employer.

The Chartered Insurance Institute has launched a new Cert CII (Protection) designation for members holding the Certificate in Insurance, including the Financial Protection and Customer Service in Insurance exam units. 

The aim of the new certification is to give aspiring professionals a chance to deepen and extend their knowledge.

The CII collaborated with the Women in Protection Group (WIP) and the Protection Distributors Group (PDG) to create an opportunity for those working in, or aspiring to work in, the sector to learn the fundamentals of insurance and protection and demonstrate their skills and knowledge with a recognised qualification.

The Level 3 Certificate in Insurance is a core qualification for insurance staff working across all sectors of the industry. The Certificate develops core knowledge and confidence of the key disciplines needed ahead of subsequent studies, says the CII.

The membership designation for insurance and protection providers and intermediaries is a way to communicate an individual’s technical expertise and knowledge, and a commitment to the Chartered Insurance Institute’s professional standards and ethics, explained the professional body.

The Cert CII (Protection) designation is available to members who have successfully completed the Certificate in Insurance, including R05 Financial protection and IF9 Customer service in insurance exam units.

The pathway routes to achieve Cert CII (Protection) include:

IF1 + R05 + IF9 + Active member of CII = Cert CII (Protection)

Or

LM1 + LM2+ R05 + IF9 + Active member of CII = Cert CII (Protection)

Simon Graham, director of Learning and Assessment at the CII said: “We have seen growing demand from the protection sector for a bespoke qualification that tests and validates the skills needed when advising in this area.

“This certificate has been designed to recognise those working in the sector and give them an opportunity to enhance their knowledge and deepen their skill set. It is independently validated and internationally recognised, so that those who gain it can take it with them throughout their career.”

Two linked companies that claimed to be able to help investment clients recover funds lost when investing in alternative investments have been ordered into liquidation by the High Court.

The SIPP providers body AMPS (Association of Member-Directed Pension Schemes) has urged members to learn lessons from the implications of the recent Berkeley Burke SIPP court ruling but says the case is “no game changer.”

Over four in five (82%) parents and relatives who invest in Junior ISAs have been using them to invest for children and young relatives since they were under five - but 80% will wait until their recipients are over 16 before telling them, missing an opportunity to help young people learn more about personal finance, says a provider.

Wealth manager Quilter's corporate finance director Mark Satchel will step up to become chief financial officer from March following the departure of current CFO Tim Tookey, who will step down at the same time.

The property fund run by AFH Financial Group has topped £110m - double what it was a year ago.