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The amount of money being withdrawn through transfers from defined benefit (DB) pension schemes in the UK has reached a record £50bn since the pension freedoms came into force, according to new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
UK pension investments jump by over third in Q1

UK pension investments jump by over third in Q1...

New pension investments in the UK were up by more than a third in the first three months of 2017, according to new figures by Equifax Touchstone.

Published : 19, Jun 2017
Pension transfer values outstripping UK house prices

Pension transfer values outstripping UK house...Lock icon

The value of pensions being transferred out of defined benefit (DB) schemes is greater than the average cost of a house in the UK, research from Royal London has found.

Published : 19, Jun 2017
Ex-footballer Shearer settles negligent financial advice case

Ex-footballer Shearer settles negligent financial...Lock icon

Alan Shearer has agreed a settlement deal after launching a £9m ($11.5m, €10.2m) court bid against his former financial adviser for giving the ex-Newcastle United and England striker negligent financial advice.

Published : 15, Jun 2017
Fear driving global rise in DB pension transfers say advisers

Fear driving global rise in DB pension transfers...

Fear that defined benefit (DB) pension schemes may be unable to meet their long-term liabilities is driving demand for pension transfers, research from Old Mutual International (OMI) has found.

Published : 15, Jun 2017
Fund industry profits shrink as higher costs and passives bite

Fund industry profits shrink as higher costs and...

Worldwide profits for traditional mutual fund groups fell by close to 3% in 2016, despite a solid rise in the value of assets under management, according to a report by McKinsey.

Published : 12, Jun 2017
Rops list sees Aussie rebound but Channel Islands wane further

Rops list sees Aussie rebound but Channel Islands...Lock icon

After missing its Monday deadline, HM Revenue & Customs released an updated recognised overseas pension scheme (Rops) list on Wednesday that saw Australian scheme numbers rise, while Guernsey and Jersey continued their declines.

Published : 7, Jun 2017
Pension transfer delays expected as HMRC misses Rops deadline

Pension transfer delays expected as HMRC misses...Lock icon

Pension transfers are likely to be delayed and providers, advisers and clients have been left in limbo after HM Revenue & Customs failed to publish a new list of recognised overseas pension schemes (Rops) that was scheduled for Monday.

Published : 6, Jun 2017
Qrops Bureau launches estate planning service for advisers

Qrops Bureau launches estate planning service...

Isle of Man-based The Qrops Bureau has launched a trust and estate planning service for financial advisers.

Published : 5, Jun 2017
IMF urges millennials to prepare for 'pension shock'

IMF urges millennials to prepare for 'pension...

For millennials entering the workforce, the public pension system in advanced economies is simply not going to provide the safety net in retirement that it did for previous generations, according to a new report by the International Monetary Fund (IMF) entitled ‘Pension Shock’.

Published : 2, Jun 2017

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