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No safety net for life policy part surrenders

No safety net for life policy part surrendersLock icon

HM Revenue & Customs will be able to review "disproportionate" tax bills slapped on people who withdraw money from their life policies but “it is crucial that this isn’t seen as a safety net”, warns Old Mutual Wealth tax and financial planning expert Rachael Griffin.

No cold calling ban but Finance Bill rolls out key reforms

No cold calling ban but Finance Bill rolls out...Lock icon

The latest UK Finance Bill has not included a ban on pensions cold calling but has reduced the non-domicile threshold and implemented cuts to the money purchase annual and tax-free dividend allowances.

Published : 8, Sep 2017
PEOPLE MOVES: Old Mutual Wealth, Enhance Group, LGT Vestra

PEOPLE MOVES: Old Mutual Wealth, Enhance Group,...Lock icon

Wealth management firm Old Mutual Wealth gears up for its proposed demerger and listing on the London and Johannesburg Stock Exchanges next year with a flurry of top level appointments. While Jersey-based wealth consultancy Enhance Group gets a new chief executive and chairman.

Published : 8, Sep 2017
Hansard and Fidelity unveil retail client risk profiling tool

Hansard and Fidelity unveil retail client risk...Lock icon

Isle of Man-based savings provider Hansard International has teamed up with global asset manager Fidelity International to launch a tool to help financial advisers identify the risk profile of retail clients.

Published : 8, Sep 2017
Clive Baker departs in shake up at Zurich Int'l Life

Clive Baker departs in shake up at Zurich Int'l...Lock icon

After five years as chief executive of Zurich International Life based on the Isle of Man, Clive Baker has “decided to move on to new opportunities”, the company has confirmed to International Adviser.

Published : 7, Sep 2017
Advisers in UAE face tougher environment for financial planning

Advisers in UAE face tougher environment for financial...Lock icon

The chief executive of a leading UAE advice firm has warned that increased regulation will reduce the survival prospects for many financial consultancy firms in the Emirates if the obvious warnings from regulators are ignored.

Published : 7, Sep 2017
Five UK insurers facing FCA review over customer treatment

Five UK insurers facing FCA review over customer...Lock icon

Old Mutual, Prudential and Abbey Life are among five companies still under investigation by the Financial Conduct Authority over concerns about the transparency of exit and penalty charges in the firms’ closed-book life insurance policies.

Published : 7, Sep 2017
ANALYSIS: ECB taper edges closer

ANALYSIS: ECB taper edges closerLock icon

Just a few months ago, market watchers were convinced the ECB would soon announce it would begin to cut its asset purchases. But even though the European economy has since powered ahead, it now appears unlikely that a detailed tapering announcement will come this year.

Published : 6, Sep 2017
Complaints against SJP up but Sesame worst advice offender

Complaints against SJP up but Sesame worst advice...Lock icon

The UK’s Financial Ombudsman Service (FOS) received 22% more new complaints against St James’s Place in 1H17 compared with 2H16 and, despite a drop in the number of complaints against Sesame, the network remained the most complained about advice provider.

Published : 5, Sep 2017
PEOPLE MOVES: RWC Partners, Sanlam Four, Lombard Odier PB

PEOPLE MOVES: RWC Partners, Sanlam Four, Lombard...Lock icon

RWC Partner’s acquisition of Pensato Capital has added a seven-strong team, including the firm’s founder, while Sanlam Four and Lombard Odier Private Bank are making a UK push with their latest hires.

Published : 5, Sep 2017
US Republicans lobby to scrap Fatca and tax on citizens abroad

US Republicans lobby to scrap Fatca and tax on...Lock icon

The Republican National Committee (RNC) has urged president Donald Trump to replace citizenship-based taxation, and therefore scrap the Foreign Account Tax Compliance Act (Fatca), in his tax reform package.

Published : 4, Sep 2017
Ex-footballers linked to film scheme to sue financial advisers

Ex-footballers linked to film scheme to sue financial...Lock icon

A group of 45 former English Premier League footballers are to sue the professional advisers linked to the £700m Ingenious Media film investment scheme that has been accused by the UK taxman of creating artificial losses to allow investors to claim tax relief.

Published : 1, Sep 2017
Back to basics: life insurance key part of financial planning

Back to basics: life insurance key part of financial...Lock icon

IHT planning, nil rate bands and replacing pension scheme death benefits are some of the reasons life insurance needs to remain a core part of financial planning, according to Chris Lean, a chartered financial planner with Aisa International. Click through the slides below to see six key reasons advisers need to speak to clients about ensuring they are protected.

Published : 1, Sep 2017
Jersey gets a rebrand to spurn ‘tax haven’ label

Jersey gets a rebrand to spurn ‘tax haven’ label...Lock icon

Jersey Finance has launched a new communications strategy to counter the negative impact of cross-border financial centres’ malpractice on the general public, and to improve the image of its financial services industry in the local community and abroad.

Published : 1, Sep 2017
PEOPLE MOVES: Zurich, Aberdeen Standard, Walker Crips

PEOPLE MOVES: Zurich, Aberdeen Standard, Walker...Lock icon

Zurich’s group chief risk officer is to retire next year, with her replacement already identified. One of the insurer’s chief underwriting officers has also confirmed his departure. Aberdeen Standard Investments has named a general manager and senior representative in China, while Walker Crips has confirmed a raft of senior changes as its chief executive plans his retirement.

Published : 1, Sep 2017
Issuing tax laws by press release perilous for South Africa

Issuing tax laws by press release perilous for...Lock icon

Introducing tax legislation by press release and putting changes into place with immediate effect puts South African taxpayers in an “impossible position”, a tax expert has warned.

Published : 31, Aug 2017
Bupa Global data theft puts half million clients at fraud risk

Bupa Global data theft puts half million clients...Lock icon

A rogue Bupa Global employee is suspected of stealing the personal details of more than half a million international healthcare customers and attempting to sell the information.

Published : 29, Aug 2017
Analysis: Insistent client advice needs two suitability reports

Analysis: Insistent client advice needs two suitability...Lock icon

Advisers are mulling the implications of FCA plans to incorporate the term ‘insistent client’ into its handbook guidance. The regulator has outlined what it sees as best practice – a move that could see advisers producing two suitability reports, with a particular focus on pension transfer advice.

Published : 23, Aug 2017
Analysis: Why do UK advisers have to follow EU rules?

Analysis: Why do UK advisers have to follow EU...Lock icon

Portfolio advisers are increasingly asking themselves why they are having to deal with so much regulatory change emanating from the EU, given the fast approaching deadline for Brexit in March 2019.

Published : 23, Aug 2017
UK taxman tasks IFAs with warning offshore account holders

UK taxman tasks IFAs with warning offshore account...Lock icon

HM Revenue & Customs (HMRC) is warning taxpayers that failing to disclose their offshore accounts could lead to “life-changing consequences” in a letter being sent to millions of individuals via their financial institutions and advisers.

Published : 23, Aug 2017

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