STM launches Sipp for international clients

STM launches Sipp for international clients

STM Group has launched a UK-based self-invested personal pension (Sipp), designed specifically for international clients with UK pensions, taking advantage of recent changes impacting the Qrops market.

Published : 17, Jul 2017
UK pension transfer changes – what are the risks for advisers?

UK pension transfer changes – what are the risks...Lock icon

The FCA has proposed overhauling the rules for advising on DB to DC pension transfers. Rob Morris, partner at RPC, looks at the risks these changes create for financial advisers and their insurers.

Published : 17, Jul 2017
Advised clients £40,000 better off

Advised clients £40,000 better off

Those receiving financial advice are, on average, £40,000 ($51,468, €44,973) better off than their peers who do not, research from the International Longevity Centre UK (ILC-UK) has found.

Published : 13, Jul 2017
Gay man wins for equal pension rights in landmark UK court case

Gay man wins for equal pension rights in landmark...

The UK Supreme Court has ruled that same-sex couples have the same rights to pension death benefits as heterosexual couples in a landmark case involving a final salary scheme.

Published : 12, Jul 2017
Qrops ‘wide-open to mis-selling’ under FCA transfer reforms

Qrops ‘wide-open to mis-selling’ under FCA transfer...Lock icon

The UK financial services regulator has “failed to deliver a working model” for overseas pension transfers, says industry expert Bethell Codrington, amid concerns the Financial Conduct Authority’s (FCA) planned overhaul leaves products such as Qrops “open to mis-selling”.

Published : 12, Jul 2017
Five things you need to know about Qnups

Five things you need to know about QnupsLock icon

For years, qualifying non-UK pension schemes (Qnups) have been seen as a niche product relegated to the realms of ‘aggressive tax planning’, says Martin Hall, director of Isle of Man-based pension provider Optimus. Here he reveals five reasons why it’s time for advisers to re-evaluate their position.

Published : 10, Jul 2017
FCA orders yet another firm to cease pension transfers

FCA orders yet another firm to cease pension transfers...Lock icon

UK advice firm Heather Dunne IFA (HDIFA) has been ordered by the Financial Conduct Authority (FCA) to stop proving advice on pension transfers making it the latest in a string of firms to be sanctioned under an industry-wide crackdown.

Published : 7, Jul 2017
Woman fined for not helping in £13m pension scam probe

Woman fined for not helping in £13m pension scam...

An office manager of a firm currently under investigation by the UK’s Pensions Regulator (TPR) for running a suspected £13m (€14.7m, $16.8m) pension liberation scam has been convicted of withholding information.

Published : 7, Jul 2017
Selectapension suspends Qrops transfer service after FCA audit

Selectapension suspends Qrops transfer service...Lock icon

A UK firm which writes third party Qrops transfer reports has suspended its defined benefit pension transfer business following an FCA audit.

Published : 6, Jul 2017
Eight tips to consider before advising millennials

Eight tips to consider before advising millennials...Lock icon

Today’s millennials are tomorrow’s clients, says Craig Featherby, chief executive of South African advisory firm Carrick Wealth. Their different attitudes to things like money mean millennials use language differently to talk about it. In order to advise them, we need to understand how they communicate, he adds.

Published : 5, Jul 2017
Standard Life wins case over pension transfer values

Standard Life wins case over pension transfer...

The UK’s Pensions Ombudsman has ruled in favour of trustees of the Standard Life Staff Pension Scheme, after a staff member claimed he had lost out on a proposed transfer.

Published : 4, Jul 2017
Ombudsman upholds Sipp complaint against Curtis Banks

Ombudsman upholds Sipp complaint against Curtis...Lock icon

Self-invested pension provider Curtis Banks has been criticised by the UK Pensions Ombudsman for negligence and maladministration.

Published : 4, Jul 2017
Top planning opportunities two years on from pension freedoms

Top planning opportunities two years on from pension...Lock icon

There are exciting new market opportunities for the taking, two years after the UK pension freedoms were introduced that raised customer awareness of the need for pension planning, says Matt Ward, communications director at AKG Financial Analytics

Published : 3, Jul 2017
Montfort told to pay back client for unsuitable Qrops advice

Montfort told to pay back client for unsuitable...Lock icon

A UK IFA firm which specialises in advising Britons moving overseas has been ordered to compensate a client over “unsuitable” pension transfer advice.

Published : 29, Jun 2017
UK watchdog throws out Qrops case against Hargreaves

UK watchdog throws out Qrops case against Hargreaves...Lock icon

The UK’s Financial Ombudsman Service (FOS) has rejected a complaint against Hargreaves Lansdown after a client accused the platform provider of unnecessarily delaying a transfer of his pension into a Qrops.

Published : 28, Jun 2017
Up to £50bn pulled from DB schemes in pension transfers

Up to £50bn pulled from DB schemes in pension...

The amount of money being withdrawn through transfers from defined benefit (DB) pension schemes in the UK has reached a record £50bn since the pension freedoms came into force, according to new figures released by professional service group Mercer.

Published : 23, Jun 2017
Pension transfer advice rules were ‘past sell-by date’

Pension transfer advice rules were ‘past sell-by...Lock icon

The financial planning industry in the UK has welcomed the FCA’s plans to overhaul advice on pension transfers, with many describing the reforms as long overdue.

Published : 21, Jun 2017
Overseas pension transfers more complex under new FCA rules

Overseas pension transfers more complex under...Lock icon

Transfers to overseas pensions are likely to become even more complicated following proposals from the Financial Conduct Authority to overhaul pension transfer advice in the UK.

Published : 21, Jun 2017
FCA to overhaul pension transfer advice rules

FCA to overhaul pension transfer advice rulesLock icon

Advice on pension transfers is to be provided as a personal recommendation and transfer value analysis replaced with a comparison to show the value of the benefits being given up under plans announced by the UK regulator on Wednesday.

Published : 21, Jun 2017
Fearful advisers face ‘information vacuum’ on pension transfers

Fearful advisers face ‘information vacuum’ on...

Nearly all financial advisers disagree with the UK regulator’s pension transfer value analysis assumptions and are having to deal with an “information vacuum” from the UK regulator, according to veteran retirement expert Mike Morrison.

Published : 20, Jun 2017

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