The Financial Services Compensation Scheme has declared 12 firms in default, including a number of financial advisers and wealth managers. The move opens the door to investors to claim compensation from the FSCS. The firms were declared in default in August and September. Among the firms declared in default in the latest batch of defaults […]
Archives for 2021
FSCS declares 12 firms in default
The Financial Services Compensation Scheme has declared 12 firms in default, including a number of financial advisers and wealth managers. The move opens the door to investors to claim compensation from the FSCS. The firms were declared in default in August and September. Among the firms declared in default in the latest batch of defaults […]
The One-Page Financial Plan: Focusing Advice On What Matters Most
In the delivery of “the financial plan,” advisors have traditionally presented the thick, leather-bound, firm logo-embossed, three-inch binder to clients. On top of being a tool to present “the plan” to clients, this also was an outward demonstration of the sheer depth of analysis the advisor completed to compile this plan; a physical manifestation of […]
Wells Fargo hit with another case and more exits by international advisors
Weekend Reading for Financial Planners (Oct 16-17)
Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the announcement from Schwab Advisor Services that it will be requiring the 13,000 RIAs on its platform (including those migrating from TD Ameritrade) to hold at least $1 million of Errors & Omissions (E&O) insurance coverage, in the […]
Raymond James, LPL Financial, Stifel, plus royal funding, domestic partner certification and more
What’s the Deal With Your Investments? Calculate Return on Equity to Find Out
When it comes to your business, you want to know if your investments were worth it. To do that, you may need to calculate some business ratios, like return on equity. But, what is return on equity, and how does it work? And, what is the return on equity formula? Let us give you the […]
FCA bans “reckless” pension transfer adviser
The FCA has banned financial adviser Omar Hussein and fined him £116,000 for “reckless and unsuitable” pension transfer advice. Mr Hussain was a former director and senior financial adviser at pension switching firm Consumer Wealth Ltd (CWL). Mr Hussein has been banned from financial services indefinitely and fined for putting at risk an estimated £13.5m […]
PFS board criticises parent CII as review begins
The Personal Finance Society board has voiced criticism of its parent body, the Chartered Insurance Institute, as a review of both bodies’ future strategies gets under way. The two organisations have been at loggerheads over CII plans to ‘deregister’ the PFS as a separate company to bring the two bodies closer together, streamline decision making […]
PFS board criticises parent CII as review begins
The Personal Finance Society board has voiced criticism of its parent body, the Chartered Insurance Institute, as a review of both bodies’ future strategies gets under way. The two organisations have been at loggerheads over CII plans to ‘deregister’ the PFS as a separate company to bring the two bodies closer together, streamline decision making […]