News by: Alex Steger
Markets
JP Morgan Chase under fire over planned copper ETF
JP Morgan Chase’s plan to launch an exchange traded fund backed by physical copper has come under fire from US manufacturers who argued the product would ‘grossly and artificially inflate prices’ and ‘wreak havoc on the US and global economy'.
BoE: QE has not harmed pensions
Quantitative easing has not cut the value of most pension funds as much as first claimed, according to the Bank of England's deputy governor Charlie Bean.
KMD's Deamer steels himself for Ironman triathlon
Kevin Deamer, chartered financial planner at Essex-based KMD Private Wealth, is set to attempt a double Ironman triathlon to raise money for the Meningitis Research Foundation and Help for Heroes.
The Wrap Factfiles: James Hay Wrap revamped and re-examined
The James Hay Wrap has recently undergone a revamp and changed its charging structure. Figures given include its Sipp business.
Gov’t urged to introduce single rate 30% income tax and scrap IHT
The government has been urged to introduce a single 30% rate of income tax and abolish national insurance, stamp duty, and inheritance tax, by a joint project between the Institute of Directors and the Tax Payers Alliance.
FCA’s Wheatley appeals for IFA help to reduce FSCS bills
The incoming chief executive of the Financial Conduct Authority has appealed to IFAs to help the regulator spot problem areas in a bid to avoid escalating Financial Services Compensation Scheme bills.
The New Model Adviser® Quiz of the Week
Think you know all there is to know about this week’s news? Why not prove it, and have a go at the New Model Adviser® weekly quiz.
Collapsed IFA's Ucis sales to spark £6m FSCS claims
The collapse of Edinburgh-based IFA Dunedin could result in up to £6 million in consumer redress falling on the Financial Services Compensation Scheme due to the firms’ sale of unregulated collective investment schemes.
Adviser Week: Collapsed investment fuels FSCS fears
New Model Adviser® news editor Alex Steger and chief reporter Will Robins discuss the implications for advisers from the collapse of unregulated investment Sustainable AgroEnergy.
Ruffle hits out at 'smear campaign' after Martin Currie fine
The fund manager at the centre of the scandal over Martin Currie’s £8.6 million fine has claimed he is the victim of a ‘smear campaign’, arguing he has done nothing wrong.
FSA and Worldspreads aware of alleged fraud before FSCS hit
The Financial Services Authority was alerted to an alleged fraud at the spread-betters three months before it entered administration and fell on the Financial Services Compensation Scheme.
Lloyds nears branch sell off as Co-op deal back on track
The Co-op’s deal to buy more than 600 Lloyds bank branches looks set to be back on track after it was proposed that the current Lloyds management team running the branches would continue to do so following the sale.
Frontrunner pulls out of race for top job at Aviva
The leading external candidate to replace Andrew Moss as Aviva chief executive of Aviva Andy Haste does not want the job.
FSA bans and fines broker £335k for insurance fraud
The Financial Services Authority has fined and banned an Ayrshire-based insurance broker for committing insurance fraud and censured his wife.
Pru boss Thiam tipped to be ABI chairman
Prudential chief executive Tidjane Thiam has emerged as the front runner to replace Legal & General’s outgoing boss Tim Breedon as chairman of the Association of British Insurers.
Elevate boosts AXA as new model drive gathers pace
AXA Wealth’s assets under management have grown to £20.1 billion in the first quarter of 2012, boosted by strong platform sales on its wrap platform Elevate, as it bids to become the platform of choice for new model advisers.
The runners and riders for Aviva's top job
With Andrew Moss becoming the most high profile victim of the recent shareholder spring, Aviva is in need of a new chief executive. With a little help from bookies Ladbrokes we check out the runners and riders in the frame to get Aviva’s top job.
Adviser Week: Why it pays to get client agreements right
New Model Adviser® news editor Alex Steger and chief reporter Will Robins discuss recent warnings from providers over the wording of adviser-client agreements.
The Wrap Factfiles: All you need to know about Sippcentre
AJ Bell’s Sippcentre added an ISA and dealing account to its Sipp last year to establish itself as a platform contender. Here we examine its proposition.
Final salary pension scheme deficits rise to £217 billion
The collective deficit of the UK’s private sector final salary pension schemes has risen by £11 billion to £217 billion, according to the Pension Protection Fund.