Adviser / Broking
Scottish advisers overwhelmingly reject independence - poll
Scottish advisers are overwhelmingly against an independent Scotland, according to figures from a Personal Finance Society (PFS) poll.
Raymond James cements return to profit
Advisory and wrap business Raymond James Investment Services has consolidated its return to profit, generating almost £235,000 in 2013.
Aegon distances itself from executive's direct plans
Product provider Aegon has distanced itself from a view attributed to its head of marketing that advisers have been "disintermediated" and that its future lies in direct relationships with consumers.
Financial adviser who preyed on the bereaved jailed for £85k theft
A financial adviser has been jailed for five years for stealing a total of £85,000 from his victims in a theft campaign targeting the elderly and the recently bereaved.
IFAs on the hook for collapsed £60m offshore investment scheme
UK IFAs are among hundreds of creditors facing severe losses in a £60m investment scheme marketed as low risk but "tainted with illegality", according to the firm's liquidators.
IFA leaves Intrinsic over pressure to go restricted
An IFA has left network Intrinsic after he felt he was being nudged towards adopting a restricted proposition following its takeover by Old Mutual.
Bellpenny to buy Skipton's £900m wealth arm Torquil Clark
Skipton Building Society is to sell its advice arm Torquil Clark to national wealth manager Bellpenny for an undisclosed sum.
First major Keydata lawsuit filed against US brokerage
The first significant lawsuit from the Keydata scandal has been issued against US-based brokerage CRT Capital, according to the Financial Times.
Payday lender Wonga to pay £2.6m for sending out fake legal letters
Wonga, the UK's largest payday lender, has been forced to repay £2.6m to customers by the Financial Conduct Authority (FCA) after the regulator found it sent fake legal letters to borrowers.
Towry agrees £70m refinancing package
Wealth manager Towry has agreed a £70m refinancing deal which will reduce its cost of capital and give it cash for acquisitions.
Fisher to exit Towry as former Pru chief takes over
Towry's chief executive Andrew Fisher is to leave the firm, with former Prudential UK chief Rob Devey to take over the role.
Adviser fees down 19% after fee block realignment
Financial advisory businesses will contribute £68m to the Financial Conduct Authority's funding requirement for 2014-2015, a near-19% reduction on last year following a re-working of the regulator's fee blocks.
Advice trespass fears stunting D2C platform market
Ensuring direct-to-consumer (D2C) platforms do not stray into advice has become an "obsession" that is ultimately stunting innovation, a report has concluded.
Skandia platform profits rise to £13m in 2013
UK platform Skandia has reported profits of £13m in 2013, up from £2m in 2012, after net inflows of over £2bn last year.
Private equity firm takes majority stake in Succession
A private equity firm has bought a majority stake in national financial advisory business Succession.
R C Brown raids Rowan Dartington senior team
Bristol based discretionary investment firm, R C Brown Investment Management (RCBIM) has recruited the team that managed the ‘Signature' investment proposition for Rowan Dartington.
Network forced to pay redress over UCIS advice to WW2 veteran
Network Pi Financial has lost another case at the Financial Ombudsman Service (FOS), this time over advice one of its appointed representatives gave to a World War II veteran to invest £90,000 in an unregulated collective investment scheme (UCIS).
Ex-Prem footballer turned 'financial consultant' declared bankrupt
Former Charlton Athletic FC footballer Richard Rufus, who later began a career as a 'financial consultant', has been declared bankrupt.
Investors pursue two national IFAs over 'faulty' advice on CI payout
A couple is pursuing national IFA firms Positive Solutions and 2plan Wealth Management for what they claim was negligent advice to invest in high risk unregulated investments - including using money they had received from a critical illness (CI) payout....
IFA pushed into administration over £1.5m Arch cru liabilities
IFA Willow Financial has been forced into administration over £1.5m in liabilities relating to its Arch cru advice - but has been bought back by some of its former partners at a knock-down price, and they won't be footing the bill for claims.
More than half of advisers say RDR transition was 'smooth'
More than half of advisers (53%) have found the transition to the Retail Distribution Review (RDR) either smooth or very smooth, according to research published today.
RSM Tenon appoints administrators; suspends shares
RSM Tenon has appointed administrators and has suspended its shares following an announcement this morning a proposed takeover deal by Baker Tilly has fallen through.
RSM Tenon says debts likely to lower Baker Tilly offer
Advisory and accountancy group RSM Tenon has conceded that, should an offer for the business be forthcoming from Baker Tilly, its high debts mean "minimal value, if any" will be attributed to its issued share capital.
Long-stop petition reaches 2,098 signatures
Adviser support group Tenet's petition asking the government for a long-stop for financial advice complaints has reached 2,098 signatures in only ten days.
