Investment Week www.investmentweek.co.uk Industry Voice: Key adviser challenges in 2023 <img alt="Industry Voice: Key adviser challenges in 2023" src="https://www.investmentweek.co.uk/api/v1/wps/2c93283/3302b717-622d-4e66-8960-537bf4caf4e9/0/1536-728-myles-tan-RFgO9B-OR4g-unsplash-185x114.jpg" /> <p><!--summary start--> <!--summary end--></p> https://www.investmentweek.co.uk/api/v1/wps/2c93283/3302b717-622d-4e66-8960-537bf4caf4e9/0/1536-728-myles-tan-RFgO9B-OR4g-unsplash-185x114.jpg https://www.investmentweek.co.uk/sponsored/4076494/schroders-iw-2023-key-adviser-challenges-2023 https://www.investmentweek.co.uk/sponsored/4076494/schroders-iw-2023-key-adviser-challenges-2023 https://www.investmentweek.co.uk/sponsored/4076494/schroders-iw-2023-key-adviser-challenges-2023 Tue, 28 Feb 2023 12:19:55 +0000 Scottish advisers overwhelmingly reject independence - poll <p><!--summary start--> Scottish advisers are overwhelmingly against an independent Scotland, according to figures from a Personal Finance Society (PFS) poll. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2364124/scottish-advisers-overwhelmingly-reject-independence-poll https://www.investmentweek.co.uk/investment-week/news/2364124/scottish-advisers-overwhelmingly-reject-independence-poll Tue, 9 Sep 2014 10:22:50 +0000 Raymond James cements return to profit <p><!--summary start--> Advisory and wrap business Raymond James Investment Services has consolidated its return to profit, generating almost £235,000 in 2013. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2361392/raymond-james-cements-return-profit https://www.investmentweek.co.uk/investment-week/news/2361392/raymond-james-cements-return-profit Thu, 21 Aug 2014 10:58:19 +0000 Aegon distances itself from executive's direct plans <p><!--summary start--> 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. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2361011/aegon-distances-executives-direct-plans https://www.investmentweek.co.uk/investment-week/news/2361011/aegon-distances-executives-direct-plans Tue, 19 Aug 2014 12:59:28 +0000 Financial adviser who preyed on the bereaved jailed for £85k theft <p><!--summary start--> 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. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2361007/financial-adviser-preyed-bereaved-jailed-gbp85k-theft https://www.investmentweek.co.uk/investment-week/news/2361007/financial-adviser-preyed-bereaved-jailed-gbp85k-theft Tue, 19 Aug 2014 12:56:49 +0000 IFAs on the hook for collapsed £60m offshore investment scheme <p><!--summary start--> 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. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2360132/ifas-hook-collapsed-gbp60m-offshore-property-scheme https://www.investmentweek.co.uk/investment-week/news/2360132/ifas-hook-collapsed-gbp60m-offshore-property-scheme Fri, 15 Aug 2014 11:00:00 +0000 IFA leaves Intrinsic over pressure to go restricted <p><!--summary start--> An IFA has left network Intrinsic after he felt he was being nudged towards adopting a restricted proposition following its takeover by Old Mutual. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2359327/ifa-leaves-intrinsic-pressure-restricted https://www.investmentweek.co.uk/investment-week/news/2359327/ifa-leaves-intrinsic-pressure-restricted Thu, 7 Aug 2014 13:58:04 +0000 Bellpenny to buy Skipton's £900m wealth arm Torquil Clark <p><!--summary start--> Skipton Building Society is to sell its advice arm Torquil Clark to national wealth manager Bellpenny for an undisclosed sum. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2358788/bellpenny-skiptons-wealth-armtorquil-clark https://www.investmentweek.co.uk/investment-week/news/2358788/bellpenny-skiptons-wealth-armtorquil-clark Tue, 5 Aug 2014 07:41:00 +0000 First major Keydata lawsuit filed against US brokerage <p><!--summary start--> The first significant lawsuit from the Keydata scandal has been issued against US-based brokerage CRT Capital, according to the Financial Times. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2357836/-major-keydata-lawsuit-filed-us-brokerage https://www.investmentweek.co.uk/investment-week/news/2357836/-major-keydata-lawsuit-filed-us-brokerage Wed, 30 Jul 2014 08:07:30 +0000 Payday lender Wonga to pay £2.6m for sending out fake legal letters <p><!--summary start--> 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. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2351940/payday-lender-wonga-pay-gbp26m-sending-fake-legal-letters https://www.investmentweek.co.uk/investment-week/news/2351940/payday-lender-wonga-pay-gbp26m-sending-fake-legal-letters Wed, 25 Jun 2014 11:47:23 +0000 Towry agrees £70m refinancing package <p><!--summary start--> Wealth manager Towry has agreed a £70m refinancing deal which will reduce its cost of capital and give it cash for acquisitions. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2343156/towry-agrees-gbp70m-refinancing-package https://www.investmentweek.co.uk/investment-week/news/2343156/towry-agrees-gbp70m-refinancing-package Tue, 6 May 2014 10:36:38 +0000 Fisher to exit Towry as former Pru chief takes over <p><!--summary start--> Towry's chief executive Andrew Fisher is to leave the firm, with former Prudential UK chief Rob Devey to take over the role. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2340172/fisher-exit-towry-pru-chief-takes https://www.investmentweek.co.uk/investment-week/news/2340172/fisher-exit-towry-pru-chief-takes Wed, 16 Apr 2014 10:48:00 +0000 Adviser fees down 19% after fee block realignment <p><!--summary start--> 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. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2337101/adviser-fees-19-fee-block-realignment https://www.investmentweek.co.uk/investment-week/news/2337101/adviser-fees-19-fee-block-realignment Mon, 31 Mar 2014 10:49:48 +0000 Advice trespass fears stunting D2C platform market <p><!--summary start--> Ensuring direct-to-consumer (D2C) platforms do not stray into advice has become an "obsession" that is ultimately stunting innovation, a report has concluded. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2333393/advice-trespass-fears-stunting-d2c-platform-market https://www.investmentweek.co.uk/investment-week/news/2333393/advice-trespass-fears-stunting-d2c-platform-market Tue, 11 Mar 2014 09:29:45 +0000 Skandia platform profits rise to £13m in 2013 <p><!--summary start--> UK platform Skandia has reported profits of £13m in 2013, up from £2m in 2012, after net inflows of over £2bn last year. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2331496/skandia-platform-profits-climb-gbp13m-2013 https://www.investmentweek.co.uk/investment-week/news/2331496/skandia-platform-profits-climb-gbp13m-2013 Fri, 28 Feb 2014 09:24:00 +0000 Private equity firm takes majority stake in Succession <p><!--summary start--> A private equity firm has bought a majority stake in national financial advisory business Succession. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2325535/majority-stake-succession-bought-private-equity-firm https://www.investmentweek.co.uk/investment-week/news/2325535/majority-stake-succession-bought-private-equity-firm Tue, 28 Jan 2014 14:28:00 +0000 R C Brown raids Rowan Dartington senior team <p><!--summary start--> Bristol based discretionary investment firm, R C Brown Investment Management (RCBIM) has recruited the team that managed the ‘Signature' investment proposition for Rowan Dartington. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2308475/-brown-raids-rowan-dartington-senior-team https://www.investmentweek.co.uk/investment-week/news/2308475/-brown-raids-rowan-dartington-senior-team Thu, 21 Nov 2013 12:08:01 +0000 Network forced to pay redress over UCIS advice to WW2 veteran <p><!--summary start--> 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). <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2305888/network-forced-pay-redress-ucis-advice-ww2-veteran https://www.investmentweek.co.uk/investment-week/news/2305888/network-forced-pay-redress-ucis-advice-ww2-veteran Fri, 8 Nov 2013 12:01:00 +0000 Ex-Prem footballer turned 'financial consultant' declared bankrupt <p><!--summary start--> Former Charlton Athletic FC footballer Richard Rufus, who later began a career as a 'financial consultant', has been declared bankrupt. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2305039/-prem-footballer-financial-consultant-declared-bankrupt https://www.investmentweek.co.uk/investment-week/news/2305039/-prem-footballer-financial-consultant-declared-bankrupt Tue, 5 Nov 2013 12:00:34 +0000 Investors pursue two national IFAs over 'faulty' advice on CI payout <p><!--summary start--> 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. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2299908/investors-pursue-national-ifas-faulty-advice-gbp312k-ci-payout https://www.investmentweek.co.uk/investment-week/news/2299908/investors-pursue-national-ifas-faulty-advice-gbp312k-ci-payout Thu, 10 Oct 2013 15:06:00 +0000 IFA pushed into administration over £1.5m Arch cru liabilities <p><!--summary start--> 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. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2299100/ifa-pushed-administration-gbp15m-arch-cru-liabilities https://www.investmentweek.co.uk/investment-week/news/2299100/ifa-pushed-administration-gbp15m-arch-cru-liabilities Mon, 7 Oct 2013 14:57:00 +0000 More than half of advisers say RDR transition was 'smooth' <p><!--summary start--> 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. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2295596/-half-advisers-rdr-transition-smooth https://www.investmentweek.co.uk/investment-week/news/2295596/-half-advisers-rdr-transition-smooth Thu, 19 Sep 2013 07:40:00 +0000 RSM Tenon appoints administrators; suspends shares <p><!--summary start--> 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. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2290414/rsm-tenon-appoints-administrators-suspends-shares https://www.investmentweek.co.uk/investment-week/news/2290414/rsm-tenon-appoints-administrators-suspends-shares Thu, 22 Aug 2013 10:24:00 +0000 RSM Tenon says debts likely to lower Baker Tilly offer <p><!--summary start--> 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. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2289324/rsm-tenon-debts-lower-baker-tilly-offer https://www.investmentweek.co.uk/investment-week/news/2289324/rsm-tenon-debts-lower-baker-tilly-offer Fri, 16 Aug 2013 07:39:59 +0000 Long-stop petition reaches 2,098 signatures <p><!--summary start--> 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. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2288415/longstop-petition-reaches-098-signatures https://www.investmentweek.co.uk/investment-week/news/2288415/longstop-petition-reaches-098-signatures Tue, 13 Aug 2013 08:01:21 +0000 Why your firm should have an investment committee <p><!--summary start--> Surely the last thing advisers need is more committees, right? Wrong. Rebecca Jones explains why firms should set up their own crack investment panels. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/feature/2283276/-firm-investment-committee https://www.investmentweek.co.uk/investment-week/feature/2283276/-firm-investment-committee Thu, 18 Jul 2013 11:28:04 +0000 Perspective seeks to raise £28m with AIM float <p><!--summary start--> Financial adviser and consolidator Perspective Financial has unveiled plans to float on the Alternative Investment Market (AIM) in a move to raise £28m. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2279853/perspective-seeks-raise-gbp28m-aim-float https://www.investmentweek.co.uk/investment-week/news/2279853/perspective-seeks-raise-gbp28m-aim-float Mon, 8 Jul 2013 07:32:20 +0000 Arch cru and Keydata see Chase de Vere post £11.2m loss <p><!--summary start--> Chase de Vere today announced steep losses for 2012 of £11.2m, impacted by the £14.4m set aside to cover the costs of its Keydata legal battle and compensating clients sold Arch cru and payment protection insurance. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2279356/arch-cru-keydata-chase-vere-post-gbp112m-loss https://www.investmentweek.co.uk/investment-week/news/2279356/arch-cru-keydata-chase-vere-post-gbp112m-loss Thu, 4 Jul 2013 07:38:30 +0000 Ashcourt Rowan posts £2.5m loss after 'year of transformation' <p><!--summary start--> Wealth manager Ashcourt Rowan posted a loss of £2.5m in the 12 months to April as the group continues its transformation into a holistic financial planning business. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2278771/ashcourt-rowan-posts-gbp25m-loss-transformation https://www.investmentweek.co.uk/investment-week/news/2278771/ashcourt-rowan-posts-gbp25m-loss-transformation Tue, 2 Jul 2013 10:11:00 +0000 Legacy commission remains key revenue stream post-RDR <p><!--summary start--> Legacy commission still accounted for more than half of adviser income at end of March, according to research released today. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2272328/legacy-commission-remains-key-revenue-stream-postrdr https://www.investmentweek.co.uk/investment-week/news/2272328/legacy-commission-remains-key-revenue-stream-postrdr Mon, 3 Jun 2013 14:24:09 +0000 Chartered adviser numbers swell 24% on last year <p><!--summary start--> The number of financial advisers with chartered status has increased 24% year on year, according to a document released by the Chartered Institute of Insurance (CII) today. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2271883/chartered-adviser-swell https://www.investmentweek.co.uk/investment-week/news/2271883/chartered-adviser-swell Fri, 31 May 2013 11:58:56 +0000 FSCS to begin paying Lifemark recoveries next month <p><!--summary start--> The Financial Services Compensation Scheme (FSCS) has detailed how it plans to distribute recoveries it anticipates to receive from Lifemark SA, a bond provider whose products were marketed in the UK by collapsed firm Keydata, with investment advisers in line for a rebate. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2269766/fscs-begin-paying-lifemark-recoveries https://www.investmentweek.co.uk/investment-week/news/2269766/fscs-begin-paying-lifemark-recoveries Wed, 22 May 2013 10:51:23 +0000 Harlequin advisers netted up to 15% in commission <p><!--summary start--> Advisers and agents selling clients investments in Caribbean villas run by Harlequin Property received commissions of up to 15%, according to a lawyer close to the situation. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2269172/harlequin-advisers-netted-commission https://www.investmentweek.co.uk/investment-week/news/2269172/harlequin-advisers-netted-commission Mon, 20 May 2013 11:30:30 +0000 LIA past presidents pay tribute to Len Warwick CBE <p><!--summary start--> Tributes are continuing to flood in for Len Warwick CBE, a former president of the Life Insurance Association (LIA), who died on Sunday. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2265021/lia-past-presidents-pay-tribute-len-warwick-cbe https://www.investmentweek.co.uk/investment-week/news/2265021/lia-past-presidents-pay-tribute-len-warwick-cbe Tue, 30 Apr 2013 10:39:58 +0000 TCF 'pioneer' Len Warwick dies <p><!--summary start--> Len Warwick, who has been described by colleagues as a "pioneer" of professionalism and treating customers fairly (TCF) in financial services, has died aged 68. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2264832/tcf-pioneer-len-warwick-dies https://www.investmentweek.co.uk/investment-week/news/2264832/tcf-pioneer-len-warwick-dies Mon, 29 Apr 2013 15:13:52 +0000 HSBC to cut 1,149 roles in wealth arm restructure <p><!--summary start--> Banking giant HSBC has proposed reducing staff numbers by 1,149 as part of a restructure of its wealth business. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2263455/hsbc-cut-149-roles-wealth-arm-restructure https://www.investmentweek.co.uk/investment-week/news/2263455/hsbc-cut-149-roles-wealth-arm-restructure Tue, 23 Apr 2013 13:21:36 +0000 Harlequin files for administration <p><!--summary start--> Harlequin Management Services (South East), which trades as Harlequin Property, has filed a notice of intention to appoint administrators at the High Court of Justice. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2263370/harlequin-files-administration https://www.investmentweek.co.uk/investment-week/news/2263370/harlequin-files-administration Tue, 23 Apr 2013 11:25:26 +0000 Private client adviser charged with murder of Mayfair socialite <p><!--summary start--> A private client adviser at wealth firm HFM Columbus Asset Management has been charged with the murder of a wealthy socialite, according to reports. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2256444/private-client-adviser-charged-murder-mayfair-socialite https://www.investmentweek.co.uk/investment-week/news/2256444/private-client-adviser-charged-murder-mayfair-socialite Thu, 21 Mar 2013 09:41:00 +0000 SJP hits back at THS Partners over sacking <p><!--summary start--> St James's Place has broken its silence over its sacking of Taube Hodson Stonex Partners (THS) after a twenty-year relationship. <!--summary end--></p> https://www.investmentweek.co.uk/investment-week/news/2251548/sjp-hits-ths-partners-sacking https://www.investmentweek.co.uk/investment-week/news/2251548/sjp-hits-ths-partners-sacking Fri, 1 Mar 2013 07:53:59 +0000