The battle for struggling Swiss fund manager GAM took unexpected turn today after investor group NewGAMe and Bruellan made a partial counter offer to Liontrust’s bid, valuing the company higher than the original offer.
Read more ...Transact reports record 229,000 advised clients
- Tuesday, 18 July 2023
- Articles
Integrafin, parent company of adviser platform Transact, has reported advised client numbers climbed to a record 229,000 in the three months to the end of June.
Read more ...‘Finfluencers’ crackdown is ‘long overdue’
- Tuesday, 18 July 2023
- Articles
This week's FCA’s crackdown on rule-breaking social media posts and so-called ‘finfluencers’ is long overdue, according to Rosie Hooper, chartered financial adviser at Quilter.
Read more ...Coutts creates head of Financial Planning role
- Monday, 17 July 2023
- Articles
Wealth manager and private bank Coutts - part of the NatWest group - has turned to Nutmeg’s Laura Kingman to take on its newly-created role of head of Financial Planning.
Read more ...Firms should utilise Pensions Dashboard delay
- Monday, 17 July 2023
- Articles
Pension Dashboard services providers have been urged to maximise the opportunities offered by the extended Pensions Dashboard deadline.
The mandatory date for pensions providers to connect to the Pension Dashboard has been pushed back to 31 October 2026.
However, a recent statement from the DWP suggested it will be expecting a certain portion of the industry to connect to the dashboard before the deadline.
The approach will potentially allow the 'Dashboards Available Point' (when the public gains access to the dashboards) to be realised sooner than 2026.
In June Pensions Minister Laura Trott announced a two and half year delay to the mandatory adoption of the dashboards amid technical challenges and requests for more time.
Digital financial adviser Wealth Wizards said the delat leaves Pensions Dashboard service firms at a critical juncture and firms should fully capitalise on the extended deadline and embrace innovative tools that enhance consumer engagement.
Nick Hall, business development director at Wealth Wizards, said firms must anticipate the growing demand from consumers while maintaining compliance with the FCA's standards.
He said: "Firms aspiring to offer pension dashboard services should seize this extended time frame to refine and enhance their propositions.
"Exciting horizons await authorised PDS firms as the FCA proposes an expansion beyond the traditional 'find and view' function of a pensions dashboard. The aim is to foster an environment where consumers can ‘confidently and actively engage with their pensions’, enabling consumers to ‘continue their pensions engagement journey in an informative and secure environment’.”
He said that by harnessing the power of automation, PDS providers can offer personalised digital guidance and advice services which will allow consumers to gain a deeper understanding of their current retirement provision and take proactive steps towards a more secure future.
Mr Hall said: "By offering consumers access to services that help them navigate their next steps, both individuals and the pensions industry stand to benefit. It presents an opportune moment to reinvigorate consumer engagement in savings and unlock significant business potential."
But he warned firms must establish a resilient and scalable digital service to accommodate the anticipated surge in pension data access and heightened consumer interest in actively engaging with and exploring pension options.
Wealth Wizards aims to help the financial services industry deliver financial well-being for everyone. The company’s digital financial wellbeing software - ‘Wealth Wizards Platform’ and ‘MyEva’ - are deployed in various sectors, including banking, assurance, financial advice and employee benefit.
Openwork appoints business school head
- Monday, 17 July 2023
- Articles
Adviser network Openwork has appointed Helen Longland as principal director of its business school.
Read more ...FCA to crack down on social media ads
- Monday, 17 July 2023
- Articles
The Financial Conduct Authority has outlined new guidance proposals aimed at combatting illegal and non-compliant social media ads and promotions and the potential damage from some ‘finfluencers.’
Read more ...P2P fraudsters cheated FCA Register
- Monday, 17 July 2023
- Articles
Two fraudsters involved in a £17.9m scam which saw the FCA Register cheated to convince investors they were legitimate have been sentenced to a combined eight years in prison.
Read more ...Chase de Vere reports profit and turnover rise
- Friday, 14 July 2023
- Articles
National IFA firm Chase de Vere has reported positive financial results for the year ending December 2022 with turnover and profit up despite a challenging economic environment.
Read more ...FCA probes platforms' cash interest policies
- Friday, 14 July 2023
- Articles
The FCA has written to investment platforms and SIPP providers to ask them to disclose how much of the interest they receive from cash and bank deposits they pass on to their customers.
Read more ...