News
Investment | news 24 Aug 17
End the fixed fee ‘gravy train’, says Morningstar’s Ptak
The time has come to offer investors a fairer deal and drop the fixed fees set by funds and replace them with performance-based charging, Morningstar’s head of global manager research Jeffrey Ptak has said.
Canada Life buys annuity provider Retirement Advantage
Canada Life, the UK arm of international financial services group GreatWest Lifeco, has agreed to buy specialist annuity provider Retirement Advantage for an undisclosed sum, the company announced in a statement.
Tax & Regulation | news 24 Aug 17
Ten jurisdictions fall under beneficial ownership scrutiny
Australia, Qatar and Canada are among six jurisdictions rated largely compliant but still needing to make improvements in the latest wave of peer reviews by the OECD focusing on availability of beneficial ownership information.
Phoenix squeezes more cash out of Axa deal than expected
Phoenix Group, Britain’s largest closed life fund consolidator, doubled operating profit during the first six months of 2017 as it said the cash earned from the Axa acquisition last year had been generated more rapidly than expected.
Best Practice | news 24 Aug 17
Aussie IFA body pushes for reform of ‘independent’ definition
The Australian Association of Independently Owned Financial Professionals (AIOFP) has stepped up efforts to amend the legal definition of “independent advice” through the publication of a white paper seeking to challenge the regulator’s views.