The dream of owning your own home is increasingly out of reach for millions…at least the pundits keep telling us that. I do not accept this is entirely true. I know of several cases personally where younger people with a bit of saving and the flexibility to move to cheaper areas or take on […]
Archives for 2022
SJP signs deal to advise 160,000 solicitors
Wealth manager St James’s Place has signed a deal to provide wealth management and Financial Planning services to the 160,000 solicitors who are members of the Law Society of England and Wales. SJP says the “strategic partnership” will give Law Society members, and their clients, access to a wide range of SJP financial services. SJP says […]
New CDC pension schemes move step closer
The Pensions Regulator has set out a new code of practice for the authorisation and supervision of the government’s new Collective Defined Contribution (CDC) pension schemes. The move is part of the preparation for the launch of CDCs which will allow occupational pensions to pool resources across several schemes to reduce costs. The TPR says this […]
1,000 work experience places on offer from SJP
Wealth manager St James’s Place is offering ‘virtual’ work experience to 1,000 young people in July to provide a financial services career taster. SJP’s Virtual Work Experience Week – called Financial Services Explained – will take place over five days from 11-15 July. The company, which has over 4,000 advisers, says the scheme will offer […]
Botched update caused CISI website to crash
The CISI was forced to take down its website for several hours this week after a failed upgrade by its hosting provider. The botched upgrade caused technical issues which resulted in the site being taken offline. The CISI has confirmed that the problems were not related to criminal hacking of the site which suffered a […]
US private equity firm acquires UK wealth manager
Financial services-focused US private equity firm Lovell Minnick Partners (LMP) is to acquire a majority stake in London-based wealth manager London & Capital. London & Capital is a London-based wealth and asset manager with £4.1 billion in assets under management. LMP says that London & Capital’s management team will continue to lead the business and […]
Social Security reform stalled as opponents call for another commission
FSCS declares 11 firms in default including advice businesses
The Financial Services Compensation Scheme has declared 11 firms in default in April and May, including several Financial Planning and advisory firms and a number of credit unions. The move opens the door to investors to claim compensation from the FSCS over losses due to the failed firms. Among the Financial Planning and advice firms declared […]
Ex-Mattioli exec takes CEO reins at fintech Gaudi
Former Mattioli director Mark Smith has been appointed CEO at pensions and SIPP fintech Gaudi. He will take over from Patrick Vaughan this week as Mr Vaughan moves to a new role at The Investment and Savings Alliance (TISA). Mr Smith has worked in wealth management for 35 years and was a director for 10 years at Mattioli […]
1.5m retirees still paying mortgages
Millions of mortgage holders expect to still be paying off mortgages at age 65 and some will dip into pensions to do so, according to new research. Rising housing costs mean the mortgage ‘dream’ is over for many mortgage holders, says LV=. Many of today’s mortgage holders will face paying for home loans […]