The Government’s three month probe into pension exit fees has been described as a “wakeup call to those providers who still think pensions born in the 1990s are fit for the 21st century”.
A number of Financial Planners, including a former IFP president, have left Towry following the takeover of Ashcourt Rowan, the company has confirmed.
A director from the Prudential Regulation Authority is joining the FCA for a one year role as the ripple effects of Martin Wheatley’s looming departure spread out.
Scores of companies are ‘dodging’ UK consumer protection rules and duping consumers into believing they are dealing with FCA regulated firms, it has been claimed.
Excessive early exit penalties have been placed at the heart of a three month probe into firms failing to make the new freedoms available to savers.
A company that employs 32 Paraplanners has announced the takeover of a rival Paraplanning firm.
Wealth management firm St James’s Place has incurred an FSCS levy of £20m – nearly triple that of last year.
The Government would be sending out an anti-saving message if it decides to scrap pension tax breaks for high earners, the Wealth Management Association says.
The increased FSCS levy could mean total regulatory costs for Sipp operators in the sector could rise by an additional 75% this year when compared with 2014.
The advent of robo-adviser style services can help draw a clearer distinction between regulated advice and Financial Planning, IFP chief executive Steve Gazzard says.