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PEOPLE MOVES: Axa, James Hambro, Fidelity Int’l

PEOPLE MOVES: Axa, James Hambro, Fidelity Int’l...Lock icon

After 10 years with the business, the chief executive of Axa Global Asset Management has announced she is stepping down. James Hambro & Partners has made three senior staff members partners of the business, with Fidelity International handing five multi-asset open range funds to a new portfolio manager.

Published : 13, Jan 2017
Asset managers must ‘innovate and industrialise’

Asset managers must ‘innovate and industrialise’...Lock icon

The asset management industry is facing an innovation dilemma as it struggles to free itself from encumbered business models and embrace industrialisation, says Matthew Lamb, chief executive of Pacific Asset Management.

Published : 13, Jan 2017
UAE commission ban may face 'two-year delay'

UAE commission ban may face 'two-year delay'Lock icon

The UAE Insurance Authority (IA) is to issue a new draft and open a fresh consultation on plans to tackle high fees and hidden commissions in the life industry after requests for a 'two-year delay', sources have told International Adviser.

Published : 12, Jan 2017
‘Highly unlikely’ Providence investors will get money back

‘Highly unlikely’ Providence investors will get...Lock icon

Investors in the doomed Guernsey-based Providence Investment Funds have been told it is “highly unlikely” they will receive any money back, as a campaign group is set up on their behalf to target an FCA-regulated firm it claims is behind the funds’ promotion.

Published : 12, Jan 2017
Key financial planning tips for international advisers in 2017

Key financial planning tips for international...Lock icon

Opportunity knocks for financial advisers in 2017 as political, economic and regulatory turmoil leaves clients adrift in unknown territory and seeking advice, says Rachael Griffin, head of product law and financial planning at Old Mutual International.

Published : 12, Jan 2017
Fatca here to stay as US becomes last global tax haven

Fatca here to stay as US becomes last global tax...Lock icon

The United States will become the last global tax haven as the Common Reporting Standard (CRS) comes into force, making a repeal of Fatca very unlikely, says Nuri Katz, chief executive and founder of Apex Capital Partners.

Published : 11, Jan 2017
Almost half of millennials would buy advice from Google

Almost half of millennials would buy advice from...Lock icon

More than a third of investors around the world are prepared to use robo-advisers, with an increasing number millennials, those aged 18-35, admitting they would buy insurance from an online provider such as Google or Amazon, a new report by consultancy firm Accenture has revealed.

Published : 11, Jan 2017
Guaranteed retirement income products may not be worth it

Guaranteed retirement income products may not...Lock icon

Retirement income products with guarantees, offered by many life companies in the UK as an alternative to the old fashioned annuity, do not offer value for money in most cases, according to a study by Milliman, an international consultancy group.

Published : 11, Jan 2017
Meet the Warringtons part 5: LPAs and entrepreneurs relief

Meet the Warringtons part 5: LPAs and entrepreneurs...Lock icon

The fictional Warrington family faces a death in the family, grapples with lasting powers of attorney and inheritance tax mitigation in the latest case study from Edward Stone, partner at Irwin Mitchell Private Wealth.

Published : 11, Jan 2017
HMRC under fire for ‘unrealistic’ plans to shut 170 offices

HMRC under fire for ‘unrealistic’ plans to shut...Lock icon

HM Revenue and Customs (HMRC) could be forced to abandon plans to shut 170 local branches after the UK government’s spending watchdog accused the tax office of being “unrealistic” over its restructure plans.

Published : 10, Jan 2017
PEOPLE MOVES: Deutsche Bank, RLAM, J. Safra Sarasin

PEOPLE MOVES: Deutsche Bank, RLAM, J. Safra Sarasin...Lock icon

After Deutsche Bank’s head of anti-financial crime stepped down just six months into the job, the German bank has named his replacement. RLAM has created a global equity team by poaching three staff from Waverton IM, while J. Safra Sarasin has a new managing director for client advisory in Hong Kong.

Published : 10, Jan 2017
What it takes to make a successful adviser business

What it takes to make a successful adviser business...Lock icon

Providing best advice in a transparent way, with explicit contracts so that a client expectations are met, is a good starting point for this journey, says James Pearcy-Caldwell, co-founder of Aisa International.

Published : 9, Jan 2017
Zurich ordered to pay £223k over IHT advice to British expat

Zurich ordered to pay £223k over IHT advice to...Lock icon

A UK judge has ordered Zurich to pay damages of £223,000 ($275,211, €261,185) over wrong advice given to a British expat looking to reduce her inheritance tax (IHT) liability.

Published : 6, Jan 2017
Portugal strikes Jersey and Isle of Man off blacklist

Portugal strikes Jersey and Isle of Man off blacklist...Lock icon

Portugal’s government has removed Jersey, Isle of Man and Uruguay from its latest blacklist of jurisdictions.

Published : 6, Jan 2017
South Africa to bring in 50% cap on upfront commission

South Africa to bring in 50% cap on upfront commission...Lock icon

South Africa’s Financial Services Board (FSB) will limit upfront commission to 50%, with the remainder set to be paid on an “as and when” basis as further details emerge on how the regulator will introduce the first set of Retail Distribution Review (RDR) measures.

Published : 5, Jan 2017
Uncovering stances on business ethics among advisers globally

Uncovering stances on business ethics among advisers...Lock icon

Tricky ethical scenarios faced by financial advisers around the world who take part in the Chartered Institute for Securities & Investment’s integrity-based workshops show some fascinating trends, says Rebecca Doodson, CISI's manager of ethics and integrity.

Published : 5, Jan 2017
Aisa International moves into South Africa with fee-based firm

Aisa International moves into South Africa with...Lock icon

Cross-border financial planning firm Aisa International has expanded into South Africa after being granted a licence by the country’s financial services regulator.

Published : 4, Jan 2017
South Africa sets out commission ban under RDR

South Africa sets out commission ban under RDR...Lock icon

South African regulator, the Financial Services Board (FSB), has revealed details on how it will implement a cap on commission payments as part of the country's Retail Distribution Review (RDR).

Published : 4, Jan 2017
US equities looking expensive warns Amundi’s Mortier

US equities looking expensive warns Amundi’s Mortier...Lock icon

US equity valuations have become expensive on a price-to-earnings basis and investors are urged to stay away from them, according to Vincent Mortier, Amundi Group's Paris-based deputy chief investment officer and global head of multi-asset.

Published : 4, Jan 2017
DFSA rules out ban on commission, Insurance Authority update

DFSA rules out ban on commission, Insurance Authority...Lock icon

The Dubai Financial Services Authority (DFSA) has no proposals to ban commission, according to chief executive Ian Johnston.

Published : 4, Jan 2017

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