Industry
Retirement | 29 Nov 16
HMRC’s planned overhaul will ‘decimate’ Rops market, says IFA
The UK’s plan to abolish the 70% ‘income for life’ rule on recognised overseas pension schemes (Rops) will “decimate” the market for such products, according to the head of expat-focused IFA firm, Montfort International.
PEOPLE MOVES: StanChart, FPI, Aviva
Standard Chartered’s Asean and south Asia chief executive has stepped down with immediate effect. Friends Provident International has appointed a regional sales director for Singapore, while Aviva has hired a tech industry heavy hitter for a new communications role.
South Africa considering tax changes to offshore pension funds
South African tax authorities may clamp down on the way overseas pension products are taxed, according to Martin Hall, director of Isle of Man-based Optimus.
Middle East | 29 Nov 16
Gulf IFAs face ‘year of reckoning’ as clients turn away
Financial advisers in the Middle East are finding clients increasingly reluctant to use their services, partly due to growing geopolitical uncertainty but also because of regulatory changes and poor value-for-money products from asset managers and life companies.
PortfolioMetrix and Praemium announce partnership
Discretionary investment manager PortfolioMetrix has launched a strategic partnership with UK and international discretionary platform Praemium.